Atria Investments Inc Acquires 838 Shares of Credit Acceptance Co. (NASDAQ:CACC)

Atria Investments Inc grew its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 70.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,021 shares of the credit services provider's stock after acquiring an additional 838 shares during the quarter. Atria Investments Inc's holdings in Credit Acceptance were worth $949,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CACC. Abrams Bison Investments LLC grew its holdings in shares of Credit Acceptance by 30.5% during the third quarter. Abrams Bison Investments LLC now owns 228,306 shares of the credit services provider's stock worth $101,235,000 after purchasing an additional 53,306 shares during the last quarter. Smead Capital Management Inc. grew its holdings in shares of Credit Acceptance by 3.5% during the third quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider's stock worth $92,155,000 after purchasing an additional 7,012 shares during the last quarter. MIG Capital LLC grew its holdings in shares of Credit Acceptance by 18.7% during the third quarter. MIG Capital LLC now owns 116,491 shares of the credit services provider's stock worth $51,654,000 after purchasing an additional 18,351 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Credit Acceptance by 2.3% during the third quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider's stock worth $49,401,000 after purchasing an additional 2,522 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Credit Acceptance by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 95,854 shares of the credit services provider's stock worth $45,000,000 after purchasing an additional 1,803 shares during the last quarter. Institutional investors and hedge funds own 81.71% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CACC. StockNews.com upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a report on Friday, January 31st. Stephens boosted their price target on Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st.

Insiders Place Their Bets

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total transaction of $270,424.80. Following the transaction, the chief operating officer now directly owns 31,493 shares in the company, valued at approximately $15,428,420.70. This represents a 1.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.30% of the company's stock.

Credit Acceptance Trading Up 4.3 %

CACC stock traded up $19.62 during trading on Friday, hitting $478.21. The company had a trading volume of 45,811 shares, compared to its average volume of 64,247. The business has a 50-day moving average of $493.18 and a 200-day moving average of $471.66. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $614.96. The stock has a market cap of $5.75 billion, a PE ratio of 24.08 and a beta of 1.51. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63.

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