Kize Capital LP lifted its stake in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 9.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,077 shares of the credit services provider's stock after purchasing an additional 5,760 shares during the quarter. Credit Acceptance accounts for about 35.3% of Kize Capital LP's portfolio, making the stock its largest position. Kize Capital LP owned about 0.56% of Credit Acceptance worth $30,187,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in CACC. CANADA LIFE ASSURANCE Co grew its position in Credit Acceptance by 3.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,161 shares of the credit services provider's stock worth $1,191,000 after acquiring an additional 72 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Credit Acceptance by 6.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,261 shares of the credit services provider's stock valued at $1,799,000 after buying an additional 189 shares during the last quarter. Caxton Associates LP acquired a new stake in Credit Acceptance during the 1st quarter worth approximately $338,000. Jacobs Levy Equity Management Inc. bought a new stake in Credit Acceptance during the 1st quarter worth approximately $662,000. Finally, Tidal Investments LLC acquired a new position in Credit Acceptance in the 1st quarter valued at approximately $1,610,000. 81.71% of the stock is currently owned by institutional investors and hedge funds.
Credit Acceptance Trading Up 2.3 %
Shares of NASDAQ:CACC traded up $11.04 during trading on Wednesday, reaching $494.24. The stock had a trading volume of 65,137 shares, compared to its average volume of 59,793. Credit Acceptance Co. has a 52 week low of $409.22 and a 52 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 firm's fifty day moving average is $453.48 and its 200 day moving average is $480.23. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 33.09 and a beta of 1.42.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, beating analysts' consensus estimates of $7.88 by $0.91. The business had revenue of $550.30 million for the quarter, compared to analysts' expectations of $548.13 million. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The business's quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.70 earnings per share. As a group, equities analysts forecast that Credit Acceptance Co. will post 37.14 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on CACC shares. TD Cowen cut their price target on shares of Credit Acceptance from $400.00 to $380.00 and set a "sell" rating on the stock in a report on Friday, November 1st. Stephens started coverage on Credit Acceptance in a report on Wednesday, November 13th. They set an "equal weight" rating and a $452.00 target price on the stock. Finally, StockNews.com raised Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th.
View Our Latest Stock Report on CACC
Insider Buying and Selling
In other Credit Acceptance news, insider Thomas W. Smith sold 1,200 shares of Credit Acceptance stock in a transaction on Monday, September 9th. The shares were sold at an average price of $451.01, for a total value of $541,212.00. Following the completion of the sale, the insider now directly owns 74,450 shares of the company's stock, valued at approximately $33,577,694.50. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.30% of the stock is currently owned by insiders.
Credit Acceptance Profile
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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.
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