669 Shares in Credit Acceptance Co. (NASDAQ:CACC) Purchased by Global Retirement Partners LLC

Global Retirement Partners LLC purchased a new position in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 669 shares of the credit services provider's stock, valued at approximately $314,000.

Other institutional investors also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new stake in Credit Acceptance in the 4th quarter valued at $28,000. Quest Partners LLC increased its position in Credit Acceptance by 11,900.0% in the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider's stock valued at $53,000 after acquiring an additional 119 shares during the period. SG Americas Securities LLC purchased a new stake in Credit Acceptance during the 4th quarter valued at approximately $142,000. Point72 Hong Kong Ltd purchased a new position in shares of Credit Acceptance in the 3rd quarter valued at approximately $177,000. Finally, Principal Securities Inc. acquired a new position in shares of Credit Acceptance in the fourth quarter valued at approximately $197,000. Institutional investors and hedge funds own 81.71% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CACC. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Stephens lifted their price objective on Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Finally, TD Cowen reduced their price target on Credit Acceptance from $400.00 to $380.00 and set a "sell" rating for the company in a report on Friday, November 1st.

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Insider Buying and Selling

In related news, COO Jonathan Lum sold 552 shares of Credit Acceptance stock in a transaction dated Tuesday, December 17th. The stock was 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 owns 31,493 shares in the company, valued at approximately $15,428,420.70. This trade represents a 1.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.30% of the company's stock.

Credit Acceptance Price Performance

Shares of NASDAQ:CACC traded up $16.01 during trading on Friday, hitting $492.39. 79,715 shares of the stock were exchanged, compared to its average volume of 59,857. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $614.96. The company has a market cap of $5.92 billion, a PE ratio of 24.79 and a beta of 1.47. The company has a fifty day moving average price of $490.81 and a two-hundred day moving average price of $470.42. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 EPS 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%. On average, analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current year.

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.