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Consumer Portfolio Service, Inc. - CPSS STOCK NEWS

Welcome to our dedicated news page for Consumer Portfolio Service (Ticker: CPSS), a resource for investors and traders seeking the latest updates and insights on Consumer Portfolio Service.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Consumer Portfolio Service's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Consumer Portfolio Service's position in the market.

News
Consumer Portfolio Services Appoints Gateway to Lead Expanded Investor Relations Program
Rhea-AI Summary
Consumer Portfolio Services, Inc. (CPSS) appoints Gateway Group for investor relations program to enhance corporate messaging and outreach. CPSS reports strong performance in loan originations, with $1.36 billion funded in 2023, expanding total managed portfolio to $3.2 billion. Strategic investments in AI and machine learning drive operational efficiency and market adaptability.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.16%
Tags
management
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News
CPS Announces Renewal of $200 Million Credit Facility
Rhea-AI Summary
Consumer Portfolio Services, Inc. (CPSS) renews its two-year revolving credit agreement with Ares Agent Services, L.P., securing loans with automobile receivables until March 31, 2026.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.97%
Tags
none
-
News
CPS Announces $50.0 Million Securitization of Residual Interests
Rhea-AI Summary
Consumer Portfolio Services, Inc. (CPSS) announced the closing of a $50.0 million securitization of residual interests from previously issued securitizations. The transaction involved a qualified institutional buyer purchasing asset-backed notes secured by an 80% interest in a CPS affiliate owning residual interests in five securitizations. Collateral includes amounts from underlying spread accounts and over-collateralization. Monthly payments consist of interest and principal to maintain a minimum collateral ratio, with the offering being private and unregistered.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.91%
Tags
none
News
CPS Announces Fourth Quarter and Full Year 2023 Earnings
Rhea-AI Summary
Consumer Portfolio Services, Inc. (CPSS) reported pretax income of $9.8 million for Q4 and $61.1 million for 2023, with revenues of $92.0 million for Q4 and $352.0 million for 2023. Net income was $45.3 million for 2023, with new contract purchases of $1.358 billion in 2023. The company achieved its largest managed portfolio balance of $3.2 billion in history.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.98%
Tags
earnings
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News
CPS to Host Conference Call on Fourth Quarter 2023 Earnings
Rhea-AI Summary
Consumer Portfolio Services, Inc. (CPSS) schedules a conference call to discuss fourth quarter 2023 operating results. Participants can pre-register and access dial-in details. A replay will be available on the company's website for 12 months post-call.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.98%
Tags
conferences earnings
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News
CPS Announces $280.9 Million Senior Subordinate Asset-Backed Securitization
Rhea-AI Summary
Consumer Portfolio Services, Inc. (CPSS) closed its 50th senior subordinate securitization since 2011, marking the 100th securitization in the company’s history. The transaction involved the sale of $280.9 million of asset-backed notes secured by $300.6 million in automobile receivables originated by CPS. The notes received high ratings from Standard & Poor’s and DBRS Morningstar, with a weighted average coupon of approximately 6.51%.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.83%
Tags
none
News
CPS Announces Third Quarter 2023 Earnings
Rhea-AI Summary
Consumer Portfolio Services, Inc. (Nasdaq: CPSS) announced earnings of $10.4 million, or $0.41 per diluted share, for its third quarter ended September 30, 2023. Revenues were $92.1 million, up 2.0% from the third quarter of 2022. Total operating expenses for the third quarter of 2023 were $77.9 million compared to $56.0 million for the 2022 period. New contract purchases were $322.4 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.03%
Tags
earnings
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News
CPS Announces $286.1 Million Senior Subordinate Asset-Backed Securitization
Rhea-AI Summary
Consumer Portfolio Services, Inc. closes fourth term securitization in 2023, selling $286.1 million of asset-backed notes secured by $306.7 million in automobile receivables. The transaction received a triple 'A' rating from two rating agencies. The notes consist of five classes with interest rates ranging from 6.40% to 10.13%. The weighted average coupon on the notes is approximately 7.89%.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.11%
Tags
none
-
News
CPS Announces Second Quarter 2023 Earnings
Rhea-AI Summary
Consumer Portfolio Services, Inc. (CPSS) announced earnings of $14.0 million, or $0.55 per diluted share, for its second quarter ended June 30, 2023. Revenues for the second quarter of 2023 were $84.9 million, an increase of $2.9 million, or 3.5%, compared to the second quarter of 2022. Total operating expenses for the second quarter of 2023 were $66.3 million compared to $47.8 million for the 2022 period. Pretax income for the second quarter of 2023 was $18.6 million compared to pretax income of $34.2 million in the second quarter of 2022. Annualized net charge-offs for the second quarter of 2023 were 6.29% of the average portfolio as compared to 3.51% for the second quarter of 2022. Delinquencies greater than 30 days (including repossession inventory) were 11.72% of the total portfolio as of June 30, 2023, as compared to 9.71% as of June 30, 2022.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.22%
Tags
earnings
News
CPS to Host Conference Call on Second Quarter 2023 Earnings
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.53%
Tags
conferences earnings
Stock CPSS logo
Consumer Portfolio Service, Inc.

Nasdaq:CPSS

CPSS Rankings

#3782 Ranked by Market Cap
#439 Ranked by Stock Gains
N/A Ranked by Dividends

CPSS Stock Data

192.92M
8.32M
33.73%
48.47%
5.46%
All Other Nondepository Credit Intermediation
Finance and Insurance
Link
United States
Las Vegas

About CPSS

consumer portfolio services is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems, low incomes or limited credit histories. we purchase retail installment sales contracts primarily from franchised automobile dealerships secured by late model used vehicles and, to a lesser extent, new vehicles. we fund these contract purchases on a long-term basis primarily through the securitization markets and service the contracts over their lives. our operational headquarters are located in irvine, california and we have four additional strategically located servicing branches in florida, illinois, nevada and virginia. since we began operations in 1991 and through june 2015, we have purchased over $11.8 billion in contracts. we currently service a total managed portfolio of approximately $1.8 billion with approximately 140,000 customers and 900 employees. we maintain dealer relationships in 48 states across the united states.