Morgan Stanley Sells 3,985 Shares of Consumer Portfolio Services, Inc. (NASDAQ:CPSS)

Morgan Stanley decreased its holdings in shares of Consumer Portfolio Services, Inc. (NASDAQ:CPSS) by 9.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 37,167 shares of the credit services provider’s stock after selling 3,985 shares during the period. Morgan Stanley’s holdings in Consumer Portfolio Services were worth $167,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CPSS. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Consumer Portfolio Services during the second quarter worth $48,000. State Street Corp purchased a new stake in shares of Consumer Portfolio Services in the second quarter valued at about $64,000. Renaissance Technologies LLC raised its holdings in shares of Consumer Portfolio Services by 2.9% in the second quarter. Renaissance Technologies LLC now owns 512,358 shares of the credit services provider’s stock valued at $2,306,000 after purchasing an additional 14,300 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Consumer Portfolio Services by 3.3% in the second quarter. BlackRock Inc. now owns 555,262 shares of the credit services provider’s stock valued at $2,499,000 after purchasing an additional 17,729 shares during the last quarter. Finally, Continental Advisors LLC raised its holdings in shares of Consumer Portfolio Services by 0.7% in the first quarter. Continental Advisors LLC now owns 729,494 shares of the credit services provider’s stock valued at $2,940,000 after purchasing an additional 5,240 shares during the last quarter. Hedge funds and other institutional investors own 47.90% of the company’s stock.

CPSS traded up $0.23 during trading on Thursday, hitting $6.14. 241 shares of the company traded hands, compared to its average volume of 24,344. The firm has a market cap of $140.88 million, a P/E ratio of 6.35 and a beta of 2.58. The stock’s fifty day moving average is $5.64 and its 200 day moving average is $4.89. The company has a quick ratio of 15.86, a current ratio of 15.86 and a debt-to-equity ratio of 12.30. Consumer Portfolio Services, Inc. has a one year low of $3.39 and a one year high of $6.00.

Consumer Portfolio Services (NASDAQ:CPSS) last issued its earnings results on Tuesday, August 10th. The credit services provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.18. The firm had revenue of $66.77 million during the quarter, compared to analyst estimates of $62.46 million. Consumer Portfolio Services had a net margin of 8.67% and a return on equity of 16.60%. On average, equities research analysts forecast that Consumer Portfolio Services, Inc. will post 0.89 EPS for the current fiscal year.

Several analysts have recently commented on CPSS shares. TheStreet upgraded shares of Consumer Portfolio Services from a “d+” rating to a “c-” rating in a report on Monday, August 2nd. Zacks Investment Research lowered shares of Consumer Portfolio Services from a “buy” rating to a “hold” rating in a research report on Tuesday.

About Consumer Portfolio Services

Consumer Portfolio Services, Inc operates as an independent finance company. The firm provides indirect automobile financing to individuals with past credit problems, low incomes, and limited credit histories. It engages in purchase and service of retail automobile contracts originated primarily by franchised automobile dealers and select independent dealers in the sale of new and used automobiles, light trucks, and passenger vans.

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

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