California Public Employees Retirement System Lowers Holdings in Credit Acceptance Co. (NASDAQ:CACC)

California Public Employees Retirement System decreased its position in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 24.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,838 shares of the credit services provider's stock after selling 3,226 shares during the quarter. California Public Employees Retirement System owned about 0.08% of Credit Acceptance worth $4,619,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Eagle Bay Advisors LLC purchased a new position in shares of Credit Acceptance during the fourth quarter valued at approximately $28,000. First Horizon Advisors Inc. purchased a new stake in shares of Credit Acceptance in the fourth quarter valued at about $34,000. TD Private Client Wealth LLC purchased a new stake in shares of Credit Acceptance in the fourth quarter valued at about $37,000. Farther Finance Advisors LLC purchased a new position in Credit Acceptance during the fourth quarter worth about $38,000. Finally, US Bancorp DE grew its position in Credit Acceptance by 50.4% in the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider's stock worth $84,000 after purchasing an additional 60 shares in the last quarter. 81.71% of the stock is owned by institutional investors and hedge funds.

Credit Acceptance Stock Performance

Shares of Credit Acceptance stock traded up $3.17 on Monday, reaching $496.36. 5,593 shares of the company traded hands, compared to its average volume of 79,334. The company has a 50 day moving average of $496.12 and a 200 day moving average of $479.30. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. Credit Acceptance Co. has a 52 week low of $409.22 and a 52 week high of $614.96. The firm has a market capitalization of $5.97 billion, a PE ratio of 24.99 and a beta of 1.27.

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

Insider Transactions at Credit Acceptance

In other Credit Acceptance news, insider Douglas W. Busk sold 3,000 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 3,112 shares of the company's stock, valued at $1,605,698.64. This trade represents a 49.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction that occurred on 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 disclosure for this sale can be found here. Corporate insiders own 5.30% of the company's stock.

Wall Street Analyst Weigh In

CACC has been the topic of several recent analyst reports. StockNews.com raised shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Stephens boosted their price objective on 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 Company 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.