Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Levine Leichtman Capital Partners Reduces Stake in Consumer Portfolio Services

Levine Leichtman Capital Partners recently disclosed that they were reducing their stake in Consumer Portfolio Services, Inc. (NASDAQ:CPSS) to below 3.1 million shares, from the previously held 3.4 million, a filing with the SEC showed. After the sale, the investment firm reduced its stake to some 13% of the company, from the previously owned 15.1%. The value of the remaining shares owned by the firm amounts to some $17.8 million, at the current price of Consumer Portfolio Services’ stock.

Consumer Portfolio Services

Consumer Portfolio Services in engaged in automobile financing services, with a focus on customers with credit problems, low income and limited credit history. In the previous quarter, the company’s earnings surged, amounting $4.8 million or equivalent to $0.15 per share, from $1.3 million reported for the same period of last year, the company said in a statement. The increase in earnings came amid a boost of revenues which advanced by 60% on the year and totaled $70.5 million.

Independent investment firm Levine Leichtman Capital Partners is focused on U.S-based companies from the middle market, with over $6 billion of managed institutional capital. Aside from LLCP, some other funds that are also invested in Consumer Portfolio Services are Millennium Management, managed by Israel Englander, which owns 767,300 shares, Jim Simons’ Renaissance Technologies with 320,600 shares and Cliff Asness’ Aqr Capital Management, which at the end of last quarter held 57,300 shares.

Recommended Reading:

Hedge Fund News: Carl Icahn, Bill Ackman & Man Group’s Sell Ratings

Here’s What This $22 Billion Money Manager Has Been Buying and Selling

Hedge Fund News: Ben Bernanke, Cliff Asness & George Soros’s Housing Bet

Disclosure: none

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!