Ingalls & Snyder LLC Has $12.05 Million Position in Credit Acceptance Co. (NASDAQ:CACC)

Ingalls & Snyder LLC trimmed its position in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 21.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,659 shares of the credit services provider's stock after selling 6,982 shares during the quarter. Ingalls & Snyder LLC owned 0.21% of Credit Acceptance worth $12,046,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Smead Capital Management Inc. lifted its holdings 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 valued at $92,155,000 after acquiring an additional 7,012 shares during the period. Park Avenue Securities LLC bought a new position in shares of Credit Acceptance during the fourth quarter valued at $680,000. Geode Capital Management LLC lifted its holdings in shares of Credit Acceptance by 2.3% during 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 acquiring an additional 2,522 shares during the period. Barclays PLC lifted its holdings in shares of Credit Acceptance by 85.8% during the third quarter. Barclays PLC now owns 5,241 shares of the credit services provider's stock valued at $2,324,000 after acquiring an additional 2,420 shares during the period. Finally, Wedge Capital Management L L P NC lifted its holdings in shares of Credit Acceptance by 4.2% during the third quarter. Wedge Capital Management L L P NC now owns 2,617 shares of the credit services provider's stock valued at $1,160,000 after acquiring an additional 105 shares during the period. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Stephens raised their target price on Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. TD Cowen lowered their target price on Credit Acceptance from $400.00 to $380.00 and set a "sell" rating for the company in a research note on Friday, November 1st. Finally, StockNews.com upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Friday, January 31st.

Insider Buying and Selling

In other news, COO Jonathan Lum sold 552 shares of the business's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total transaction of $270,424.80. Following the completion of the transaction, the chief operating officer now directly owns 31,493 shares in the company, valued at approximately $15,428,420.70. The trade was a 1.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.30% of the company's stock.

Credit Acceptance Trading Up 1.7 %

CACC stock traded up $8.71 during midday trading on Friday, reaching $520.61. The stock had a trading volume of 38,540 shares, compared to its average volume of 64,345. The business has a fifty day simple moving average of $488.41 and a two-hundred day simple moving average of $469.28. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 26.21 and a beta of 1.47. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, topping analysts' consensus estimates of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.60% and a net margin of 11.46%. As a group, research analysts expect that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

About Credit Acceptance

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.