Crisp April, the Senior Vice President of Consumer Portfolio Services, Inc. (NASDAQ:CPSS), executed a notable transaction on December 12, 2024. April sold 2,500 shares of the company’s common stock at a price of $11.15 per share, amounting to a total of $27,875. This transaction followed the exercise of stock options, where April acquired 2,500 shares at a price of $2.47 each, totaling $6,175. After these transactions, April holds 17,212 shares in the company.The transaction comes as CPSS, with a market capitalization of $233.5 million, trades at a P/E ratio of 10.9. According to InvestingPro analysis, the company maintains a “GOOD” overall financial health score, and analysts have set an optimistic price target of $18 per share. For deeper insights into insider trading patterns and comprehensive financial analysis, investors can access the detailed Pro Research Report, available exclusively on InvestingPro.
In other recent news, Consumer Portfolio Services has seen significant developments. The company reported a 9% year-over-year revenue increase in the third quarter of 2024, reaching $100.6 million. Despite a decrease in pre-tax earnings and net income to $6.9 million and $4.8 million respectively, origination volume surged by 38%.
Shareholders recently approved the re-election of the nine-member board of directors and ratified executive compensation. The company also expanded its credit facility from $200 million to $225 million, facilitated by Citibank, N.A, to bolster its auto loan financing business.
Consumer Portfolio Services has also made operational improvements, such as reducing funding times and increasing same-day funding. The company has successfully integrated AI-driven tools into its operations. These are the recent developments in the company, highlighting the strategic direction and governance.
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