Quantbot Technologies LP lowered its position in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 20.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,434 shares of the credit services provider's stock after selling 635 shares during the period. Quantbot Technologies LP's holdings in Credit Acceptance were worth $1,143,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Park Avenue Securities LLC bought a new stake in shares of Credit Acceptance in the fourth quarter worth about $680,000. Geode Capital Management LLC grew its position in shares of Credit Acceptance by 2.3% in 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 purchasing an additional 2,522 shares during the period. Wealthfront Advisers LLC bought a new stake in Credit Acceptance during the 4th quarter worth approximately $18,146,000. Barclays PLC raised its holdings in Credit Acceptance by 85.8% during the 3rd quarter. Barclays PLC now owns 5,241 shares of the credit services provider's stock worth $2,324,000 after buying an additional 2,420 shares during the period. Finally, AlphaQuest LLC lifted its stake in Credit Acceptance by 759.2% in the fourth quarter. AlphaQuest LLC now owns 1,031 shares of the credit services provider's stock valued at $484,000 after buying an additional 911 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company's stock.
Insider Activity 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 stock was sold at an average price of $515.97, for a total transaction 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 $1,605,698.64. This trade represents a 49.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicholas J. Elliott sold 300 shares of the stock in a transaction dated Thursday, March 20th. The shares were 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 directly owns 19,385 shares in the company, valued at $9,731,270. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.
Credit Acceptance Stock Up 0.4 %
Shares of CACC traded up $2.17 during mid-day trading on Friday, hitting $513.13. 88,234 shares of the company's stock were exchanged, compared to its average volume of 58,890. 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 company has a market cap of $6.17 billion, a PE ratio of 25.84 and a beta of 1.51. The company has a 50-day simple moving average of $500.90 and a 200 day simple moving average of $474.99.
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 for the quarter, beating analysts' consensus estimates 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, research analysts forecast that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on CACC shares. StockNews.com raised shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Stephens lifted their price target on Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st.
Check Out Our Latest Stock Analysis on CACC
About Credit Acceptance
(
Free Report)
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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