Envestnet Portfolio Solutions Inc. Invests $566,000 in Credit Acceptance Co. (NASDAQ:CACC)

Envestnet Portfolio Solutions Inc. bought a new stake in Credit Acceptance Co. (NASDAQ:CACC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,205 shares of the credit services provider's stock, valued at approximately $566,000.

A number of other large investors have also recently made changes to their positions in CACC. Eagle Bay Advisors LLC acquired a new position in Credit Acceptance in the fourth quarter valued at $28,000. First Horizon Advisors Inc. purchased a new position in shares of Credit Acceptance during the fourth quarter worth about $34,000. Farther Finance Advisors LLC acquired a new position in Credit Acceptance in the 4th quarter valued at about $38,000. Quest Partners LLC raised its stake in Credit Acceptance by 11,900.0% during the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider's stock valued at $53,000 after acquiring an additional 119 shares during the last quarter. Finally, US Bancorp DE lifted its position in Credit Acceptance by 50.4% during the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider's stock worth $84,000 after acquiring an additional 60 shares during the period. 81.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Credit Acceptance

In other Credit Acceptance news, insider Nicholas J. Elliott sold 300 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $502.00, for a total value of $150,600.00. Following the sale, the insider now directly owns 19,385 shares of the company's stock, valued at approximately $9,731,270. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas W. Busk sold 3,000 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the transaction, the insider now directly owns 3,112 shares of the company's stock, valued at approximately $1,605,698.64. This represents a 49.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.30% of the company's stock.

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Credit Acceptance Price Performance

CACC stock traded up $2.17 on Friday, reaching $513.13. The company had a trading volume of 88,234 shares, compared to its average volume of 58,890. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. The company's fifty day moving average is $500.90 and its 200 day moving average is $474.99. The company has a market cap of $6.17 billion, a P/E ratio of 25.84 and a beta of 1.51. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $614.96.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, beating analysts' consensus estimates 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 forecast that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Wall Street Analyst Weigh In

CACC has been the topic of a number of recent research reports. Stephens boosted their target price on Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. StockNews.com raised shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Friday, January 31st.

About Credit Acceptance

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.