Credit Acceptance Co. (NASDAQ:CACC) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 805.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,450 shares of the credit services provider's stock after purchasing an additional 24,417 shares during the period. Envestnet Asset Management Inc. owned 0.23% of Credit Acceptance worth $12,887,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Eagle Bay Advisors LLC acquired a new stake in Credit Acceptance during the 4th quarter valued at $28,000. First Horizon Advisors Inc. purchased a new stake in Credit Acceptance during the 4th quarter worth about $34,000. TD Private Client Wealth LLC acquired a new position in Credit Acceptance in the 4th quarter valued at about $37,000. Farther Finance Advisors LLC purchased a new position in Credit Acceptance in the 4th quarter valued at about $38,000. Finally, US Bancorp DE lifted its holdings in Credit Acceptance by 50.4% in the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider's stock valued at $84,000 after purchasing an additional 60 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Credit Acceptance

In related news, insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the transaction, the insider now owns 3,112 shares in the company, valued at approximately $1,605,698.64. The trade was a 49.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas J. Elliott sold 300 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $502.00, for a total value of $150,600.00. Following the completion of the sale, the insider now owns 19,385 shares of the company's stock, valued at approximately $9,731,270. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Credit Acceptance Trading Up 4.9 %

Shares of CACC stock traded up $22.21 during trading hours on Wednesday, hitting $474.02. 8,842 shares of the company were exchanged, compared to its average volume of 62,353. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $614.96. The firm has a fifty day moving average of $490.78 and a 200 day moving average of $480.61. The firm has a market cap of $5.70 billion, a PE ratio of 23.87 and a beta of 1.27. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, beating analysts' consensus estimates of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. Analysts expect that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CACC shares. StockNews.com raised shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Stephens increased 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.

Credit Acceptance Company Profile

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.