EntryPoint Capital LLC Takes Position in Credit Acceptance Co. (NASDAQ:CACC)

EntryPoint Capital LLC purchased a new position in Credit Acceptance Co. (NASDAQ:CACC - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 722 shares of the credit services provider's stock, valued at approximately $339,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Credit Acceptance by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 486,828 shares of the credit services provider's stock worth $228,546,000 after purchasing an additional 5,134 shares during the last quarter. LPL Financial LLC bought a new stake in Credit Acceptance during the fourth quarter worth approximately $1,039,000. KLP Kapitalforvaltning AS acquired a new position in Credit Acceptance in the fourth quarter worth approximately $610,000. AXQ Capital LP increased its holdings in shares of Credit Acceptance by 33.0% in the fourth quarter. AXQ Capital LP now owns 1,668 shares of the credit services provider's stock valued at $783,000 after buying an additional 414 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Credit Acceptance during the 4th quarter valued at $269,000. 81.71% of the stock is owned by institutional investors and hedge funds.

Credit Acceptance Trading Up 0.6 %

Shares of NASDAQ:CACC traded up $3.22 during mid-day trading on Monday, hitting $516.35. The stock had a trading volume of 85,854 shares, compared to its average volume of 58,997. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $614.96. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. The company has a market cap of $6.21 billion, a PE ratio of 26.00 and a beta of 1.51. The company's 50 day moving average is $501.53 and its 200-day moving average is $476.04.

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Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. On average, sell-side analysts predict that Credit Acceptance Co. will post 53.24 EPS for the current year.

Wall Street Analyst Weigh In

CACC has been the topic of a number of recent research reports. StockNews.com upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a report on Friday, January 31st. Stephens lifted their price target on Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st.

Insider Buying and Selling at Credit Acceptance

In other news, insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $502.00, for a total transaction of $150,600.00. Following the completion of the sale, the insider now owns 19,385 shares in the company, valued at approximately $9,731,270. This represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Douglas W. Busk sold 3,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total value of $1,547,910.00. Following the transaction, the insider now directly owns 3,112 shares in the company, valued at approximately $1,605,698.64. This represents a 49.08 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.