Vanguard Group Inc. grew its stake in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 486,828 shares of the credit services provider's stock after purchasing an additional 5,134 shares during the quarter. Vanguard Group Inc. owned approximately 4.02% of Credit Acceptance worth $228,546,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Wealthfront Advisers LLC bought a new stake in Credit Acceptance during the 4th quarter valued at about $18,146,000. Oddo BHF Asset Management Sas purchased a new position in shares of Credit Acceptance during the third quarter worth approximately $3,020,000. KBC Group NV raised its stake in shares of Credit Acceptance by 3,197.5% during the fourth quarter. KBC Group NV now owns 6,661 shares of the credit services provider's stock valued at $3,127,000 after acquiring an additional 6,459 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Credit Acceptance by 2.3% in the third 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. Finally, Barclays PLC boosted its holdings in shares of Credit Acceptance by 85.8% in the third quarter. Barclays PLC now owns 5,241 shares of the credit services provider's stock valued at $2,324,000 after purchasing an additional 2,420 shares during the period. 81.71% of the stock is currently owned by institutional investors.
Insider Activity at Credit Acceptance
In other 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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas J. Elliott sold 300 shares of the business's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total value of $150,600.00. Following 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. 5.30% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on CACC. Stephens lifted 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. StockNews.com upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Friday, January 31st.
View Our Latest Stock Analysis on CACC
Credit Acceptance Stock Down 1.1 %
Shares of CACC traded down $5.38 during mid-day trading on Thursday, hitting $495.87. The company's stock had a trading volume of 107,360 shares, compared to its average volume of 62,467. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 24.97 and a beta of 1.27. The company's 50-day moving average is $496.63 and its 200-day moving average is $478.67. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $614.96.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share (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%. On average, equities research analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.
Credit Acceptance Company Profile
(
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.
Featured Stories
Before you consider Credit Acceptance, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Credit Acceptance wasn't on the list.
While Credit Acceptance currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
