Credit Acceptance Co. (NASDAQ:CACC) Shares Sold by Abrams Bison Investments LLC

Abrams Bison Investments LLC trimmed its stake in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 23.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,000 shares of the credit services provider's stock after selling 53,306 shares during the period. Credit Acceptance comprises about 8.5% of Abrams Bison Investments LLC's investment portfolio, making the stock its 7th biggest position. Abrams Bison Investments LLC owned about 1.45% of Credit Acceptance worth $82,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Twin Lions Management LLC acquired a new stake in Credit Acceptance during the fourth quarter worth about $21,093,000. Wealthfront Advisers LLC acquired a new stake in shares of Credit Acceptance during the 4th quarter worth approximately $18,146,000. Envestnet Asset Management Inc. increased its position in shares of Credit Acceptance by 805.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 27,450 shares of the credit services provider's stock valued at $12,887,000 after purchasing an additional 24,417 shares during the period. Kize Capital LP increased its position in shares of Credit Acceptance by 23.7% during the fourth quarter. Kize Capital LP now owns 84,233 shares of the credit services provider's stock valued at $39,544,000 after purchasing an additional 16,156 shares during the period. Finally, Barclays PLC raised its stake in shares of Credit Acceptance by 277.1% in the fourth quarter. Barclays PLC now owns 19,763 shares of the credit services provider's stock valued at $9,277,000 after purchasing an additional 14,522 shares in the last quarter. Institutional investors own 81.71% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Stephens boosted their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. StockNews.com raised shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Friday, January 31st.

Credit Acceptance Price Performance

Shares of CACC stock opened at $483.36 on Friday. 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's fifty day simple moving average is $488.13 and its 200 day simple moving average is $481.27. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $614.96. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 24.34 and a beta of 1.27.

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, 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 29.01%. On average, analysts expect that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $502.00, for a total transaction of $150,600.00. Following the transaction, the insider now directly owns 19,385 shares in the company, valued at approximately $9,731,270. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas W. Busk sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were 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 directly owns 3,112 shares of the company's stock, valued at approximately $1,605,698.64. This represents a 49.08 % decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.

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.

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