Consumer Portfolio Services, Inc. (NASDAQ:CPSS) released its quarterly earnings data on Monday, July 24th. The credit services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.01, Bloomberg Earnings reports. Consumer Portfolio Services had a net margin of 5.49% and a return on equity of 12.76%. The firm had revenue of $110.07 million during the quarter, compared to analysts’ expectations of $110.31 million.
Shares of Consumer Portfolio Services (NASDAQ CPSS) opened at 3.89 on Friday. The company has a market cap of $88.43 million, a price-to-earnings ratio of 4.62 and a beta of 1.70. The company’s 50-day moving average is $4.35 and its 200 day moving average is $4.64. Consumer Portfolio Services has a 1-year low of $3.72 and a 1-year high of $6.05.
In other Consumer Portfolio Services news, major shareholder Second Curve Capital Llc sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $4.52, for a total value of $45,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 40,000 shares of company stock worth $169,250 in the last ninety days. 37.50% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. UBS Group AG boosted its stake in shares of Consumer Portfolio Services by 1,213.0% in the first quarter. UBS Group AG now owns 24,882 shares of the credit services provider’s stock valued at $117,000 after buying an additional 22,987 shares in the last quarter. Algert Global LLC boosted its stake in shares of Consumer Portfolio Services by 12.1% in the first quarter. Algert Global LLC now owns 31,928 shares of the credit services provider’s stock valued at $150,000 after buying an additional 3,450 shares in the last quarter. Hancock Holding Co. boosted its stake in shares of Consumer Portfolio Services by 23.4% in the first quarter. Hancock Holding Co. now owns 37,570 shares of the credit services provider’s stock valued at $177,000 after buying an additional 7,120 shares in the last quarter. Oxford Asset Management acquired a new stake in shares of Consumer Portfolio Services during the first quarter valued at about $230,000. Finally, Spark Investment Management LLC raised its stake in Consumer Portfolio Services by 53.2% in the second quarter. Spark Investment Management LLC now owns 61,600 shares of the credit services provider’s stock worth $280,000 after buying an additional 21,400 shares during the last quarter. 48.19% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research cut shares of Consumer Portfolio Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th.
Consumer Portfolio Services announced that its board has approved a stock repurchase program on Monday, July 24th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the credit services provider to buy up to 9.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
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Consumer Portfolio Services Company Profile
Consumer Portfolio Services, Inc is a specialty finance company. The Company’s business is to purchase and service retail automobile contracts originated primarily by franchised automobile dealers and by select independent dealers in the United States in the sale of new and used automobiles, light trucks and passenger vans.
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