Credit Acceptance Co. (NASDAQ:CACC) Shares Sold by Global Endowment Management LP

Global Endowment Management LP trimmed its stake in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 89.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,410 shares of the credit services provider's stock after selling 28,692 shares during the period. Global Endowment Management LP's holdings in Credit Acceptance were worth $1,601,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wealthfront Advisers LLC bought a new stake in shares of Credit Acceptance in the 4th quarter worth approximately $18,146,000. Envestnet Asset Management Inc. raised its position in shares of Credit Acceptance by 805.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 27,450 shares of the credit services provider's stock worth $12,887,000 after purchasing an additional 24,417 shares during the last quarter. Kize Capital LP grew its position in Credit Acceptance by 23.7% during the 4th quarter. Kize Capital LP now owns 84,233 shares of the credit services provider's stock valued at $39,544,000 after purchasing an additional 16,156 shares during the last quarter. Barclays PLC raised its holdings in Credit Acceptance by 277.1% in the fourth quarter. Barclays PLC now owns 19,763 shares of the credit services provider's stock worth $9,277,000 after buying an additional 14,522 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Credit Acceptance by 6,314.6% in the fourth quarter. National Bank of Canada FI now owns 12,701 shares of the credit services provider's stock worth $5,963,000 after buying an additional 12,503 shares in the last quarter. 81.71% of the stock is owned by institutional investors.

Credit Acceptance Price Performance

Shares of CACC traded up $4.19 during mid-day trading on Tuesday, hitting $447.51. 28,406 shares of the stock were exchanged, compared to its average volume of 78,174. The firm has a 50-day moving average of $491.98 and a two-hundred day moving average of $480.81. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $614.96. The company has a market cap of $5.38 billion, a PE ratio of 22.53 and a beta of 1.27. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, beating 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, equities analysts predict that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CACC. Stephens upped their price objective on Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st.

Insiders Place Their Bets

In other news, insider Douglas W. Busk sold 3,000 shares of the firm's 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 sale, the insider now directly owns 3,112 shares in the company, valued at approximately $1,605,698.64. This trade represents a 49.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas J. Elliott sold 300 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total transaction of $150,600.00. Following the transaction, the insider now owns 19,385 shares of the company's stock, valued at approximately $9,731,270. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.30% of the company's stock.

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.