Credit Acceptance Co. (NASDAQ:CACC) Position Raised by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,379 shares of the credit services provider's stock after buying an additional 2,522 shares during the period. Geode Capital Management LLC owned about 0.92% of Credit Acceptance worth $49,401,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Barclays PLC lifted its holdings in shares of Credit Acceptance by 85.8% during the 3rd 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 in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in Credit Acceptance in the third quarter valued at about $245,000. Janus Henderson Group PLC lifted its stake in shares of Credit Acceptance by 11.4% during the third quarter. Janus Henderson Group PLC now owns 3,340 shares of the credit services provider's stock worth $1,481,000 after purchasing an additional 343 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Credit Acceptance by 5.7% in the third quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider's stock worth $263,000 after buying an additional 32 shares during the period. Finally, Centiva Capital LP acquired a new stake in shares of Credit Acceptance in the third quarter valued at about $412,000. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

Credit Acceptance Stock Up 1.6 %

Shares of NASDAQ:CACC traded up $7.43 during trading on Tuesday, hitting $468.79. The company's stock had a trading volume of 13,208 shares, compared to its average volume of 59,757. The company has a market capitalization of $5.68 billion, a PE ratio of 31.48 and a beta of 1.46. Credit Acceptance Co. has a fifty-two week low of $409.22 and a fifty-two week high of $616.66. The company has a debt-to-equity ratio of 3.79, a quick ratio of 23.63 and a current ratio of 23.63. The stock's 50-day moving average price is $467.38 and its two-hundred day moving average price is $478.93.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.88 by $0.91. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The company had revenue of $550.30 million for the quarter, compared to analyst estimates of $548.13 million. During the same period in the prior year, the company posted $10.70 EPS. Credit Acceptance's quarterly revenue was up 15.0% on a year-over-year basis. As a group, sell-side analysts expect that Credit Acceptance Co. will post 36.54 EPS for the current year.

Analyst Upgrades and Downgrades

CACC has been the topic of several recent research reports. Stephens assumed coverage on Credit Acceptance in a research report on Wednesday, November 13th. They set an "equal weight" rating and a $452.00 price target on the stock. TD Cowen dropped their price objective on shares of Credit Acceptance from $400.00 to $380.00 and set a "sell" rating on the stock in a research note on Friday, November 1st. Finally, StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the company's 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 sale, the chief operating officer now owns 31,493 shares in the company, valued at $15,428,420.70. This represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 5.30% of the stock is currently owned by insiders.

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.