Entropy Technologies LP Buys New Holdings in Credit Acceptance Co. (NASDAQ:CACC)

Entropy Technologies LP acquired a new position in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 500 shares of the credit services provider's stock, valued at approximately $235,000.

A number of other large investors have also recently bought and sold shares of the company. Abrams Bison Investments LLC raised its position in shares of Credit Acceptance by 30.5% in the 3rd quarter. Abrams Bison Investments LLC now owns 228,306 shares of the credit services provider's stock valued at $101,235,000 after buying an additional 53,306 shares in the last quarter. 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. MIG Capital LLC lifted its stake in Credit Acceptance by 18.7% during the third quarter. MIG Capital LLC now owns 116,491 shares of the credit services provider's stock worth $51,654,000 after purchasing an additional 18,351 shares during the last quarter. Smead Capital Management Inc. lifted its stake in 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 worth $92,155,000 after purchasing an additional 7,012 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in shares of Credit Acceptance in the 3rd quarter valued at $3,020,000. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CACC has been the subject of several recent analyst reports. StockNews.com upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Stephens increased their target price on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Finally, TD Cowen decreased 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.

Credit Acceptance Trading Up 1.7 %

Shares of CACC stock traded up $8.71 during mid-day trading on Monday, reaching $520.61. 38,540 shares of the stock traded hands, compared to its average volume of 64,345. The stock's fifty day simple moving average is $488.93 and its two-hundred day simple moving average is $468.76. Credit Acceptance Co. has a 1-year low of $409.22 and a 1-year high of $614.96. 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 company has a market cap of $6.30 billion, a price-to-earnings ratio of 26.21 and a beta of 1.47.

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

Insider Activity

In other news, COO Jonathan Lum sold 552 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total transaction of $270,424.80. Following the completion of the sale, the chief operating officer now directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.30% 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.