Cantillon Capital Management LLC Cuts Stake in Credit Acceptance Co. (NASDAQ:CACC)

Cantillon Capital Management LLC cut its stake in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 227,057 shares of the credit services provider's stock after selling 6,887 shares during the quarter. Cantillon Capital Management LLC owned approximately 1.87% of Credit Acceptance worth $100,682,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. nVerses Capital LLC purchased a new position in Credit Acceptance during the second quarter valued at approximately $51,000. Quest Partners LLC increased its holdings in Credit Acceptance by 11,900.0% during 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. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Credit Acceptance during the first quarter valued at approximately $156,000. MQS Management LLC purchased a new position in Credit Acceptance during the first quarter valued at approximately $242,000. Finally, Headlands Technologies LLC increased its holdings in Credit Acceptance by 24,850.0% during the second quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider's stock valued at $257,000 after buying an additional 497 shares during the period. 81.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. TD Cowen cut their price target on shares of 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 raised 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 price objective for the company.

Credit Acceptance Stock Performance

Shares of NASDAQ:CACC traded down $0.96 on Tuesday, hitting $445.00. 95,572 shares of the company were exchanged, compared to its average volume of 58,961. Credit Acceptance Co. has a 1-year low of $409.22 and a 1-year high of $616.66. The stock's 50 day moving average price is $449.56 and its 200 day moving average price is $482.02. The company has a current ratio of 23.63, a quick ratio of 23.63 and a debt-to-equity ratio of 3.79. The firm has a market capitalization of $5.39 billion, a P/E ratio of 29.89 and a beta of 1.42.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.88 by $0.91. The company had revenue of $550.30 million during the quarter, compared to the consensus estimate of $548.13 million. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The firm's quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted $10.70 earnings per share. Sell-side analysts predict that Credit Acceptance Co. will post 37.14 EPS for the current year.

Insiders Place Their Bets

In other Credit Acceptance news, insider Thomas W. Smith sold 1,200 shares of the company's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $451.01, for a total value of $541,212.00. Following the completion of the transaction, the insider now owns 74,450 shares in the company, valued at approximately $33,577,694.50. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.30% of the company's stock.

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.