Credit Acceptance Co. (NASDAQ:CACC) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,854 shares of the credit services provider's stock after acquiring an additional 1,803 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.79% of Credit Acceptance worth $45,000,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Abrams Bison Investments LLC boosted its position in Credit Acceptance by 30.5% in the third quarter. Abrams Bison Investments LLC now owns 228,306 shares of the credit services provider's stock valued at $101,235,000 after buying an additional 53,306 shares during the last quarter. MIG Capital LLC boosted its position in Credit Acceptance by 18.7% in the third quarter. MIG Capital LLC now owns 116,491 shares of the credit services provider's stock valued at $51,654,000 after buying an additional 18,351 shares during the last quarter. Smead Capital Management Inc. boosted its position in Credit Acceptance by 3.5% in the third quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider's stock valued at $92,155,000 after buying an additional 7,012 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in Credit Acceptance in the third quarter valued at approximately $3,020,000. Finally, KBC Group NV boosted its position in Credit Acceptance by 3,197.5% in the fourth quarter. KBC Group NV now owns 6,661 shares of the credit services provider's stock valued at $3,127,000 after buying an additional 6,459 shares during the last quarter. Institutional investors and hedge funds own 81.71% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts recently commented on CACC shares. StockNews.com upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Stephens increased their target price on Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st.

Credit Acceptance Price Performance

NASDAQ CACC traded down $1.15 during mid-day trading on Tuesday, hitting $485.70. The stock had a trading volume of 67,242 shares, compared to its average volume of 57,143. The firm's 50 day moving average is $493.51 and its 200 day moving average is $471.75. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 24.46 and a beta of 1.51.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, beating the consensus estimate of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. Equities research analysts forecast that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.

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.