Credit Acceptance Co. (NASDAQ:CACC - Get Free Report)'s share price gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $514.06, but opened at $550.00. Credit Acceptance shares last traded at $534.78, with a volume of 12,896 shares.
The credit services provider reported $10.17 EPS for the quarter, beating 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%.
Analyst Ratings Changes
A number of research firms have recently weighed in on CACC. Stephens upped their target price on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a research report on Friday. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday. Finally, TD Cowen reduced their price objective on shares of Credit Acceptance from $400.00 to $380.00 and set a "sell" rating for the company in a research note on Friday, November 1st.
Read Our Latest Stock Analysis on CACC
Insider Activity
In other news, COO Jonathan Lum sold 552 shares of the company's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total value of $270,424.80. Following the transaction, the chief operating officer now directly owns 31,493 shares in the company, valued at approximately $15,428,420.70. This represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.30% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Eagle Bay Advisors LLC purchased a new stake in Credit Acceptance during the fourth quarter worth $28,000. First Horizon Advisors Inc. purchased a new stake in Credit Acceptance during the 4th quarter valued at about $34,000. Quest Partners LLC raised its position in Credit Acceptance by 11,900.0% during the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider's stock worth $53,000 after buying an additional 119 shares during the last quarter. nVerses Capital LLC boosted its holdings in Credit Acceptance by 200.0% in the third quarter. nVerses Capital LLC now owns 300 shares of the credit services provider's stock valued at $133,000 after purchasing an additional 200 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Credit Acceptance during the fourth quarter worth about $142,000. Institutional investors own 81.71% of the company's stock.
Credit Acceptance Stock Performance
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 has a market capitalization of $6.28 billion, a price-to-earnings ratio of 26.12 and a beta of 1.47. The firm's 50 day moving average is $483.51 and its 200-day moving average is $472.18.
About Credit Acceptance
(
Get 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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