Empowered Funds LLC Makes New Investment in Consumer Portfolio Services, Inc. $CPSS

Empowered Funds LLC purchased a new position in shares of Consumer Portfolio Services, Inc. (NASDAQ:CPSS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 151,758 shares of the credit services provider’s stock, valued at approximately $1,456,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CPSS. BlackRock Inc. bought a new stake in shares of Consumer Portfolio Services in the 2nd quarter valued at $6,297,000. Geode Capital Management LLC raised its stake in Consumer Portfolio Services by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 221,565 shares of the credit services provider’s stock worth $2,067,000 after buying an additional 3,604 shares during the period. Russell Investments Group Ltd. lifted its holdings in Consumer Portfolio Services by 6,347.2% during the fourth quarter. Russell Investments Group Ltd. now owns 97,740 shares of the credit services provider’s stock worth $912,000 after acquiring an additional 96,224 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Consumer Portfolio Services by 3.4% during the first quarter. Janney Montgomery Scott LLC now owns 51,003 shares of the credit services provider’s stock worth $394,000 after acquiring an additional 1,672 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Consumer Portfolio Services by 17.8% in the first quarter. Goldman Sachs Group Inc. now owns 31,752 shares of the credit services provider’s stock valued at $275,000 after acquiring an additional 4,789 shares during the period. Institutional investors and hedge funds own 47.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CPSS. Weiss Ratings downgraded Consumer Portfolio Services from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 28th. Wall Street Zen upgraded Consumer Portfolio Services to a “hold” rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Consumer Portfolio Services Stock Down 5.2%

Shares of CPSS stock opened at $8.81 on Friday. The firm has a fifty day moving average of $9.35 and a 200-day moving average of $8.99. The company has a quick ratio of 5.67, a current ratio of 5.67 and a debt-to-equity ratio of 10.43. Consumer Portfolio Services, Inc. has a 12-month low of $7.15 and a 12-month high of $10.49. The company has a market capitalization of $189.94 million, a price-to-earnings ratio of 9.58 and a beta of 1.11.

Consumer Portfolio Services (NASDAQ:CPSS) last posted its quarterly earnings data on Tuesday, August 4th. The credit services provider reported $0.27 EPS for the quarter. The business had revenue of $57.14 million for the quarter. Consumer Portfolio Services had a net margin of 4.78% and a return on equity of 6.91%.

Insiders Place Their Bets

In other Consumer Portfolio Services news, VP Catrina Marie Ralston sold 3,617 shares of Consumer Portfolio Services stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $9.50, for a total value of $34,361.50. Following the sale, the vice president owned 68,262 shares of the company’s stock, valued at $648,489. This trade represents a 5.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Noel Jackson sold 7,500 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $9.31, for a total value of $69,825.00. Following the completion of the sale, the vice president owned 7,500 shares in the company, valued at approximately $69,825. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 144,500 shares of company stock worth $1,367,235. Corporate insiders own 63.70% of the company’s stock.

About Consumer Portfolio Services

Consumer Portfolio Services, Inc is a specialty finance company focused on originating and servicing retail installment contracts for the automotive industry. The company primarily serves subprime and near-prime borrowers by partnering with a network of franchised and independent auto dealers across the United States. By providing flexible financing solutions, CPS seeks to expand vehicle ownership opportunities for customers who may not qualify for traditional prime auto loans.

CPS operates through two principal segments: loan origination and servicing.