Arrowstreet Capital Limited Partnership Purchases Shares of 4,678 Credit Acceptance Co. (NASDAQ:CACC)

Arrowstreet Capital Limited Partnership purchased a new position in Credit Acceptance Co. (NASDAQ:CACC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,678 shares of the credit services provider's stock, valued at approximately $2,196,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Credit Acceptance by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 486,828 shares of the credit services provider's stock valued at $228,546,000 after acquiring an additional 5,134 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Credit Acceptance by 2.3% in the third quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider's stock valued at $49,401,000 after purchasing an additional 2,522 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Credit Acceptance by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 95,854 shares of the credit services provider's stock valued at $45,000,000 after purchasing an additional 1,803 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in shares of Credit Acceptance during the fourth quarter worth about $18,146,000. Finally, Swiss National Bank grew its holdings in shares of Credit Acceptance by 0.8% during the fourth quarter. Swiss National Bank now owns 13,077 shares of the credit services provider's stock worth $6,139,000 after buying an additional 100 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors.

Remove Ads

Insider Buying and Selling

In related news, insider Nicholas J. Elliott sold 300 shares of Credit Acceptance stock in a transaction dated Thursday, March 20th. The stock was 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 trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas W. Busk sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were 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 position. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Credit Acceptance Stock Up 0.4 %

Shares of NASDAQ:CACC traded up $1.75 during midday trading on Tuesday, reaching $499.06. The company had a trading volume of 11,377 shares, compared to its average volume of 62,141. Credit Acceptance Co. has a 1-year low of $409.22 and a 1-year high of $614.96. The stock has a market cap of $6.00 billion, a PE ratio of 25.02 and a beta of 1.27. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63. The business's 50 day moving average price is $495.68 and its 200 day moving average price is $479.65.

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

Credit Acceptance Profile

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.