Barclays PLC Has $9.28 Million Stake in Credit Acceptance Co. (NASDAQ:CACC)

Barclays PLC grew its stake in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 277.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,763 shares of the credit services provider's stock after purchasing an additional 14,522 shares during the period. Barclays PLC owned about 0.16% of Credit Acceptance worth $9,277,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HighTower Advisors LLC grew its stake in shares of Credit Acceptance by 5.7% during the third quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider's stock worth $263,000 after buying an additional 32 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Credit Acceptance by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider's stock valued at $49,401,000 after acquiring an additional 2,522 shares in the last quarter. Oddo BHF Asset Management Sas bought a new stake in Credit Acceptance during the 3rd quarter worth $3,020,000. JPMorgan Chase & Co. increased its holdings in Credit Acceptance by 3.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,082 shares of the credit services provider's stock worth $1,810,000 after purchasing an additional 118 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in Credit Acceptance in the fourth quarter valued at about $28,000. 81.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CACC shares. 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. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st.

Credit Acceptance Trading Up 1.9 %

Shares of CACC stock opened at $451.81 on Wednesday. The stock has a 50-day moving average of $490.78 and a 200-day moving average of $480.61. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 22.75 and a beta of 1.27. 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 earnings per share for the quarter, topping the consensus estimate of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. On average, equities research analysts forecast that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Insider Activity at Credit Acceptance

In other news, insider Nicholas J. Elliott sold 300 shares of Credit Acceptance stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $502.00, for a total value of $150,600.00. Following the completion of the sale, the insider now owns 19,385 shares in the company, valued at $9,731,270. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas W. Busk sold 3,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $1,605,698.64. This represents a 49.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

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.

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