California Public Employees Retirement System Grows Stake in Consumer Portfolio Services, Inc. (NASDAQ:CPSS)

California Public Employees Retirement System lifted its holdings in shares of Consumer Portfolio Services, Inc. (NASDAQ:CPSS) by 5.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 118,000 shares of the credit services provider’s stock after buying an additional 6,500 shares during the period. California Public Employees Retirement System’s holdings in Consumer Portfolio Services were worth $424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CPSS. Renaissance Technologies LLC lifted its stake in Consumer Portfolio Services by 8.1% during the second quarter. Renaissance Technologies LLC now owns 352,909 shares of the credit services provider’s stock worth $1,341,000 after purchasing an additional 26,302 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Consumer Portfolio Services by 4.4% in the second quarter. Vanguard Group Inc. now owns 658,270 shares of the credit services provider’s stock valued at $2,501,000 after purchasing an additional 28,006 shares in the last quarter. BlackRock Inc. increased its stake in Consumer Portfolio Services by 18.1% in the second quarter. BlackRock Inc. now owns 759,535 shares of the credit services provider’s stock valued at $2,887,000 after purchasing an additional 116,290 shares during the last quarter. Finally, Black Diamond Capital Management L.L.C. increased its stake in Consumer Portfolio Services by 490.6% in the second quarter. Black Diamond Capital Management L.L.C. now owns 2,766,706 shares of the credit services provider’s stock valued at $10,513,000 after purchasing an additional 2,298,242 shares during the last quarter. 48.38% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Greg Washer sold 13,369 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $3.42, for a total transaction of $45,721.98. Following the transaction, the director now owns 290,744 shares in the company, valued at approximately $994,344.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 46.00% of the stock is owned by corporate insiders.

CPSS has been the subject of several recent analyst reports. ValuEngine downgraded shares of Consumer Portfolio Services from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research downgraded shares of Consumer Portfolio Services from a “hold” rating to a “sell” rating in a research report on Tuesday.

NASDAQ CPSS opened at $3.36 on Friday. The company has a debt-to-equity ratio of 10.46, a current ratio of 11.54 and a quick ratio of 11.54. Consumer Portfolio Services, Inc. has a 1 year low of $2.99 and a 1 year high of $4.65. The company has a market capitalization of $78.86 million, a PE ratio of 6.59 and a beta of 1.50. The company has a fifty day moving average of $3.41 and a two-hundred day moving average of $3.53.

Consumer Portfolio Services (NASDAQ:CPSS) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $0.08 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.08. Consumer Portfolio Services had a return on equity of 4.32% and a net margin of 3.05%. The business had revenue of $85.52 million for the quarter, compared to analysts’ expectations of $84.61 million. On average, research analysts expect that Consumer Portfolio Services, Inc. will post 0.31 earnings per share for the current year.

Consumer Portfolio Services Profile

Consumer Portfolio Services, Inc operates as a specialty finance company in the United States. It purchases and services retail automobile contracts originated by franchised automobile dealers and select independent dealers in the sale of new and used automobiles, light trucks, and passenger vans. The company, through its automobile contract purchases, offers indirect financing to the customers of dealers with limited credit histories, low incomes, or past credit problems.

See Also: Retained Earnings

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Institutional Ownership by Quarter for Consumer Portfolio Services (NASDAQ:CPSS)

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