Legal & General Group Plc lowered its position in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 12.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,868 shares of the credit services provider's stock after selling 992 shares during the period. Legal & General Group Plc owned approximately 0.06% of Credit Acceptance worth $3,224,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Credit Acceptance by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 486,828 shares of the credit services provider's stock worth $228,546,000 after buying an additional 5,134 shares during the last quarter. MIG Capital LLC grew its position in shares of Credit Acceptance by 8.6% during the fourth quarter. MIG Capital LLC now owns 126,467 shares of the credit services provider's stock valued at $59,371,000 after purchasing an additional 9,976 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Credit Acceptance by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 95,854 shares of the credit services provider's stock worth $45,000,000 after acquiring an additional 1,803 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in Credit Acceptance during the fourth quarter valued at $18,146,000. Finally, Envestnet Asset Management Inc. grew its position in Credit Acceptance by 805.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 27,450 shares of the credit services provider's stock worth $12,887,000 after acquiring an additional 24,417 shares in the last quarter. 81.71% of the stock is currently owned by hedge funds and other institutional investors.
Credit Acceptance Trading Down 0.7 %
CACC stock traded down $3.39 during midday trading on Friday, reaching $483.36. The company's stock had a trading volume of 53,285 shares, compared to its average volume of 62,919. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 24.34 and a beta of 1.27. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year 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 stock has a fifty day simple moving average of $488.13 and a two-hundred day simple moving average of $481.27.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued its 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 return on equity of 29.01% and a net margin of 11.46%. On average, equities research analysts predict that Credit Acceptance Co. will post 53.24 EPS for the current year.
Insider Transactions at Credit Acceptance
In other Credit Acceptance news, insider Nicholas J. Elliott sold 300 shares of the firm's stock in a transaction that occurred 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 directly owns 19,385 shares in the company, valued at $9,731,270. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the completion of the transaction, the insider now directly owns 3,112 shares in the company, valued at $1,605,698.64. This represents a 49.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company's stock.
Analyst Ratings Changes
Several analysts recently weighed in on CACC shares. Stephens increased their price target on Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a report on Friday, January 31st.
Read Our Latest Research Report on Credit Acceptance
Credit Acceptance Company Profile
(
Free Report)
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.
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