Bridgewater Associates LP bought a new position in Credit Acceptance Co. (NASDAQ:CACC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,269 shares of the credit services provider's stock, valued at approximately $1,006,000.
Other large investors have also made changes to their positions in the company. UMB Bank n.a. grew its position in Credit Acceptance by 4.6% during the 2nd quarter. UMB Bank n.a. now owns 654 shares of the credit services provider's stock worth $337,000 after purchasing an additional 29 shares in the last quarter. nVerses Capital LLC purchased a new stake in Credit Acceptance in the 2nd quarter worth about $51,000. Wedge Capital Management L L P NC boosted its position in Credit Acceptance by 4.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 2,617 shares of the credit services provider's stock worth $1,160,000 after acquiring an additional 105 shares during the period. Lountzis Asset Management LLC grew its stake in Credit Acceptance by 22.3% during the 3rd quarter. Lountzis Asset Management LLC now owns 598 shares of the credit services provider's stock valued at $265,000 after acquiring an additional 109 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in shares of Credit Acceptance by 11,900.0% in the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider's stock valued at $53,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 81.71% of the company's stock.
Insider Buying and Selling
In related news, insider Thomas W. Smith sold 1,200 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $451.01, for a total value of $541,212.00. Following the transaction, the insider now directly owns 74,450 shares of the company's stock, valued at approximately $33,577,694.50. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.30% of the stock is currently owned by corporate insiders.
Credit Acceptance Stock Down 2.5 %
Shares of NASDAQ CACC traded down $12.27 during trading hours on Monday, hitting $485.43. The stock had a trading volume of 87,752 shares, compared to its average volume of 59,862. The firm's 50-day moving average price is $455.85 and its two-hundred day moving average price is $479.69. Credit Acceptance Co. has a 52 week low of $409.22 and a 52 week high of $616.66. The company has a market capitalization of $5.88 billion, a P/E ratio of 32.84 and a beta of 1.42. The company has a debt-to-equity ratio of 3.79, a quick ratio of 23.63 and a current ratio of 23.63.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, topping the consensus estimate of $7.88 by $0.91. The company had revenue of $550.30 million during the quarter, compared to the consensus estimate of $548.13 million. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.70 earnings per share. Analysts anticipate that Credit Acceptance Co. will post 36.77 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
CACC has been the subject of several research reports. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. TD Cowen decreased their target price on shares of Credit Acceptance from $400.00 to $380.00 and set a "sell" rating for the company in a research note on Friday, November 1st. Finally, Stephens assumed coverage on shares of Credit Acceptance in a research note on Wednesday, November 13th. They issued an "equal weight" rating and a $452.00 price target on the stock.
View Our Latest Analysis on CACC
About Credit Acceptance
(
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.
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