LPL Financial LLC Makes New $1.04 Million Investment in Credit Acceptance Co. (NASDAQ:CACC)

LPL Financial LLC bought a new position in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,213 shares of the credit services provider's stock, valued at approximately $1,039,000.

A number of other institutional investors also recently modified their holdings of the company. Park Avenue Securities LLC acquired a new position in Credit Acceptance in the 4th quarter valued at $680,000. Geode Capital Management LLC increased its stake in shares of Credit Acceptance by 2.3% in the third quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider's stock worth $49,401,000 after purchasing an additional 2,522 shares during the period. Corient Private Wealth LLC lifted its position in shares of Credit Acceptance by 7.2% during the 4th quarter. Corient Private Wealth LLC now owns 1,030 shares of the credit services provider's stock worth $484,000 after purchasing an additional 69 shares during the last quarter. HighTower Advisors LLC boosted its stake in Credit Acceptance by 67.6% during the 4th quarter. HighTower Advisors LLC now owns 997 shares of the credit services provider's stock valued at $468,000 after purchasing an additional 402 shares during the period. Finally, Wealthfront Advisers LLC acquired a new stake in Credit Acceptance in the 4th quarter valued at approximately $18,146,000. Institutional investors own 81.71% of the company's stock.

Insider Activity at Credit Acceptance

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CACC shares. Stephens increased 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 report on Friday, January 31st.

Credit Acceptance Stock Performance

Shares of NASDAQ CACC traded up $10.93 during trading hours on Wednesday, reaching $462.74. The stock had a trading volume of 35,066 shares, compared to its average volume of 78,326. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. The business's fifty day moving average is $490.78 and its two-hundred day moving average is $480.61. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 23.30 and a beta of 1.27.

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

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.