Credit Acceptance Co. (NASDAQ:CACC) Position Increased by KBC Group NV

KBC Group NV increased its position in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 3,197.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,661 shares of the credit services provider's stock after buying an additional 6,459 shares during the quarter. KBC Group NV owned about 0.06% of Credit Acceptance worth $3,127,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Abrams Bison Investments LLC increased its position in shares of 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 worth $101,235,000 after acquiring an additional 53,306 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Credit Acceptance by 24.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,051 shares of the credit services provider's stock valued at $41,704,000 after purchasing an additional 18,530 shares in the last quarter. MIG Capital LLC raised 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 purchasing an additional 18,351 shares during the period. Smead Capital Management Inc. lifted its stake in shares of Credit Acceptance by 3.5% during the third quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider's stock worth $92,155,000 after purchasing an additional 7,012 shares in the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Credit Acceptance in the third quarter valued at about $3,020,000. Institutional investors and hedge funds own 81.71% of the company's stock.

Insiders Place Their Bets

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total transaction of $270,424.80. Following the transaction, the chief operating officer now owns 31,493 shares of the company's stock, valued at $15,428,420.70. This trade represents a 1.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CACC. StockNews.com raised Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday. Stephens boosted their target price on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, TD Cowen lowered their price target on shares of Credit Acceptance from $400.00 to $380.00 and set a "sell" rating for the company in a report on Friday, November 1st.

Credit Acceptance Stock Up 1.6 %

CACC traded up $8.12 on Tuesday, reaching $518.72. The company's stock had a trading volume of 91,228 shares, compared to its average volume of 64,374. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $614.96. The business's 50 day moving average is $484.22 and its 200 day moving average is $471.73. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 26.12 and a beta of 1.47.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, topping analysts' consensus estimates of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.60%. As a group, research analysts forecast that Credit Acceptance Co. will post 55.38 EPS for the current fiscal year.

Credit Acceptance 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.