Credit Acceptance (NASDAQ:CACC) Shares Pass Above 200 Day Moving Average - Should You Sell?

Shares of Credit Acceptance Co. (NASDAQ:CACC - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $470.32 and traded as high as $511.86. Credit Acceptance shares last traded at $503.37, with a volume of 62,375 shares trading hands.

Analysts Set New Price Targets

CACC has been the subject of a number of analyst reports. Stephens lifted their price target 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. StockNews.com upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Friday, January 31st. Finally, TD Cowen cut their target price on Credit Acceptance from $400.00 to $380.00 and set a "sell" rating on the stock in a research note on Friday, November 1st.

Credit Acceptance Trading Up 1.7 %

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 50 day moving average of $488.41 and a 200 day moving average of $470.06. The firm has a market cap of $6.30 billion, a PE ratio of 26.21 and a beta of 1.47.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its quarterly earnings data 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 29.60% and a net margin of 11.46%. Equities analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Insider Activity at Credit Acceptance

In related news, COO Jonathan Lum sold 552 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total value of $270,424.80. Following the sale, the chief operating officer now owns 31,493 shares in the company, valued at approximately $15,428,420.70. This trade represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Credit Acceptance

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Abrams Bison Investments LLC raised its position in Credit Acceptance by 30.5% during the third quarter. Abrams Bison Investments LLC now owns 228,306 shares of the credit services provider's stock valued at $101,235,000 after purchasing an additional 53,306 shares in the last quarter. Twin Lions Management LLC purchased a new stake in Credit Acceptance during the fourth quarter valued at about $21,093,000. Wealthfront Advisers LLC purchased a new stake in Credit Acceptance during the fourth quarter valued at about $18,146,000. Envestnet Asset Management Inc. raised its position in Credit Acceptance by 805.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 27,450 shares of the credit services provider's stock valued at $12,887,000 after purchasing an additional 24,417 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Credit Acceptance by 24.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,051 shares of the credit services provider's stock valued at $41,704,000 after purchasing an additional 18,530 shares in the last quarter. Hedge funds and other institutional investors own 81.71% of the company's stock.

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.