BNP Paribas Financial Markets Sells 2,813 Shares of Credit Acceptance Co. (NASDAQ:CACC)

BNP Paribas Financial Markets lessened its holdings in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 92.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 234 shares of the credit services provider's stock after selling 2,813 shares during the quarter. BNP Paribas Financial Markets' holdings in Credit Acceptance were worth $104,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. lifted its stake in Credit Acceptance by 4.6% in the second quarter. UMB Bank n.a. now owns 654 shares of the credit services provider's stock valued at $337,000 after acquiring an additional 29 shares during the last quarter. nVerses Capital LLC bought a new position in Credit Acceptance during the second quarter worth about $51,000. Wedge Capital Management L L P NC increased its position in Credit Acceptance by 4.2% during the third 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 buying an additional 105 shares during the last quarter. Lountzis Asset Management LLC raised its stake in Credit Acceptance by 22.3% in the third quarter. Lountzis Asset Management LLC now owns 598 shares of the credit services provider's stock valued at $265,000 after buying an additional 109 shares during the period. Finally, Quest Partners LLC raised its stake in Credit Acceptance by 11,900.0% in the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider's stock valued at $53,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds own 81.71% of the company's stock.

Insider Buying and Selling at Credit Acceptance

In related news, COO Jonathan Lum sold 552 shares of the firm's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total value of $270,424.80. Following the sale, the chief operating officer now directly owns 31,493 shares of the company's stock, valued at $15,428,420.70. This trade represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 5.30% of the company's stock.

Credit Acceptance Stock Performance

Shares of NASDAQ CACC traded down $7.88 during trading hours on Thursday, reaching $460.99. 60,691 shares of the stock were exchanged, compared to its average volume of 59,961. Credit Acceptance Co. has a 52 week low of $409.22 and a 52 week high of $616.66. The company has a debt-to-equity ratio of 3.79, a quick ratio of 23.63 and a current ratio of 23.63. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 30.96 and a beta of 1.46. The stock's fifty day simple moving average is $467.07 and its 200 day simple moving average is $479.64.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.88 by $0.91. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The business had revenue of $550.30 million during the quarter, compared to analysts' expectations of $548.13 million. The firm'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 company posted $10.70 earnings per share. Sell-side analysts predict that Credit Acceptance Co. will post 36.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CACC. TD Cowen decreased their target price on Credit Acceptance from $400.00 to $380.00 and set a "sell" rating on the stock in a report on Friday, November 1st. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Finally, Stephens initiated coverage on shares of Credit Acceptance in a research note on Wednesday, November 13th. They set an "equal weight" rating and a $452.00 target price for the company.

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.