Consumer Portfolio Services (CPSS)
Consumer Portfolio Services (CPSS) is a specialty finance company that provides subprime auto loan portfolio acquisitions, servicing, and originations. Founded in 1991, the company focuses on purchasing and managing portfolios of auto loans, primarily serving borrowers with less-than-pristine credit histories. CPSS operates through a network of automotive finance companies and manages its portfolio for profitability and risk mitigation.
Company News
Consumer Portfolio Services closed a new two-year revolving credit agreement secured by automobile receivables, with the ability to borrow through October 2027 and an optional 18-month amortization period afterward.
U.S. stocks traded higher midway through trading, with the Dow Jones gaining around 500 points on Wednesday. The Dow traded up 1.53% to 33,351.53 while the NASDAQ rose 1.43% to 10,698.43. The S&P 500 also rose, gaining, 1.39% to 3,874.58. Read This Next: $7.5 Million Bet On This Biotechnology Stock? Check Out These 3 Stocks Insiders Are Buying ...
Consumer Portfolio Services (CPSS) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.