XTX Topco Ltd acquired a new stake in Credit Acceptance Co. (NASDAQ:CACC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,051 shares of the credit services provider's stock, valued at approximately $493,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Eagle Bay Advisors LLC bought a new position in shares of Credit Acceptance in the 4th quarter worth approximately $28,000. First Horizon Advisors Inc. acquired a new stake in shares of Credit Acceptance during the fourth quarter worth $34,000. TD Private Client Wealth LLC acquired a new stake in shares of Credit Acceptance in the fourth quarter worth $37,000. Farther Finance Advisors LLC acquired a new stake in Credit Acceptance in the 4th quarter worth about $38,000. Finally, US Bancorp DE grew its stake in Credit Acceptance by 50.4% during the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider's stock valued at $84,000 after acquiring an additional 60 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors.
Credit Acceptance Stock Up 1.6 %
Credit Acceptance stock traded up $7.81 during midday trading on Friday, hitting $494.56. 14,059 shares of the company were exchanged, compared to its average volume of 62,559. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. The company's fifty day moving average price is $488.95 and its 200-day moving average price is $480.79. The company has a market cap of $5.95 billion, a PE ratio of 24.91 and a beta of 1.27. Credit Acceptance Co. has a fifty-two week low of $409.22 and a fifty-two week high of $614.96.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued its earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, topping the consensus estimate of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. On average, research analysts predict that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have weighed in on CACC. Stephens increased their target price on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st.
Check Out Our Latest Research Report on Credit Acceptance
Insider Buying and Selling at Credit Acceptance
In other news, insider Douglas W. Busk sold 3,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total value of $1,547,910.00. Following the completion of the sale, the insider now owns 3,112 shares in the company, valued at $1,605,698.64. This represents a 49.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $502.00, for a total transaction of $150,600.00. Following the completion of the transaction, the insider now owns 19,385 shares in the company, valued at approximately $9,731,270. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.
Credit Acceptance Profile
(
Free Report)
Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.
See Also
Before you consider Credit Acceptance, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Credit Acceptance wasn't on the list.
While Credit Acceptance currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
