ExodusPoint Capital Management LP Sells 5,240 Shares of Credit Acceptance Co. (NASDAQ:CACC)

ExodusPoint Capital Management LP lessened its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 86.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 807 shares of the credit services provider's stock after selling 5,240 shares during the period. ExodusPoint Capital Management LP's holdings in Credit Acceptance were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Eagle Bay Advisors LLC purchased a new stake in shares of Credit Acceptance during the fourth quarter worth $28,000. First Horizon Advisors Inc. bought a new position in Credit Acceptance in the fourth quarter worth $34,000. TD Private Client Wealth LLC bought a new stake in Credit Acceptance in the 4th quarter valued at $37,000. Farther Finance Advisors LLC acquired a new stake in Credit Acceptance during the fourth quarter valued at approximately $38,000. Finally, US Bancorp DE grew its position in Credit Acceptance by 50.4% in the fourth quarter. US Bancorp DE now owns 179 shares of the credit services provider's stock valued at $84,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 81.71% of the company's stock.

Insider Buying and Selling

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 shares were 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 directly owns 3,112 shares in the company, valued at approximately $1,605,698.64. This trade represents a 49.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas J. Elliott sold 300 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were 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 currently owned by insiders.

Credit Acceptance Stock Down 2.1 %

NASDAQ CACC traded down $9.96 on Friday, reaching $472.19. The company had a trading volume of 57,863 shares, compared to its average volume of 62,379. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 23.78 and a beta of 1.27. The company's fifty day moving average is $494.50 and its 200-day moving average is $479.73. Credit Acceptance Co. has a 1-year low of $409.22 and a 1-year high of $614.96.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued its quarterly earnings results 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%. On average, research analysts forecast that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.