Janney Montgomery Scott LLC Lowers Stock Holdings in Credit Acceptance Co. (NASDAQ:CACC)

Janney Montgomery Scott LLC decreased its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 48.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 548 shares of the credit services provider's stock after selling 506 shares during the period. Janney Montgomery Scott LLC's holdings in Credit Acceptance were worth $257,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CACC. SG Americas Securities LLC bought a new stake in shares of Credit Acceptance during the fourth quarter valued at approximately $142,000. UMB Bank n.a. increased its position in shares of Credit Acceptance by 10.7% during the fourth quarter. UMB Bank n.a. now owns 743 shares of the credit services provider's stock valued at $349,000 after acquiring an additional 72 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Credit Acceptance by 2.7% during the fourth quarter. Wedge Capital Management L L P NC now owns 2,687 shares of the credit services provider's stock valued at $1,261,000 after acquiring an additional 70 shares in the last quarter. Park Avenue Securities LLC bought a new stake in shares of Credit Acceptance during the fourth quarter valued at approximately $680,000. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Credit Acceptance during the fourth quarter valued at approximately $28,000. Institutional investors own 81.71% of the company's stock.

Wall Street Analysts Forecast Growth

CACC has been the subject of several analyst reports. TD Cowen reduced their price target on shares of Credit Acceptance from $400.00 to $380.00 and set a "sell" rating for the company in a research report on Friday, November 1st. Stephens raised their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. Finally, StockNews.com raised shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st.

Insider Transactions at Credit Acceptance

In other news, COO Jonathan Lum sold 552 shares of Credit Acceptance 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 transaction, the chief operating officer now owns 31,493 shares in the company, valued at $15,428,420.70. This trade represents a 1.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.30% of the company's stock.

Credit Acceptance Stock Performance

NASDAQ:CACC traded up $8.71 during trading hours on Friday, reaching $520.61. The company had a trading volume of 38,540 shares, compared to its average volume of 64,345. The company has a current ratio of 23.63, a quick ratio of 23.63 and a debt-to-equity ratio of 3.79. Credit Acceptance Co. has a 52 week low of $409.22 and a 52 week high of $614.96. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 26.21 and a beta of 1.47. The firm's 50 day moving average price is $488.41 and its 200-day moving average price is $468.54.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its earnings results on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, topping analysts' consensus estimates of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.60%. 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.