MIG Capital LLC raised its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 126,467 shares of the credit services provider's stock after purchasing an additional 9,976 shares during the quarter. Credit Acceptance makes up approximately 6.1% of MIG Capital LLC's portfolio, making the stock its 5th largest holding. MIG Capital LLC owned 1.04% of Credit Acceptance worth $59,371,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CACC. Vanguard Group Inc. grew its holdings in Credit Acceptance by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 486,828 shares of the credit services provider's stock valued at $228,546,000 after buying an additional 5,134 shares in the last quarter. Geode Capital Management LLC grew its stake in Credit Acceptance by 2.3% during the third quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider's stock valued at $49,401,000 after acquiring an additional 2,522 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 during the period. Wealthfront Advisers LLC purchased a new stake in Credit Acceptance in the 4th quarter worth approximately $18,146,000. Finally, Envestnet Asset Management Inc. boosted its holdings in 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 valued at $12,887,000 after purchasing an additional 24,417 shares during the period. Institutional investors own 81.71% of the company's stock.
Credit Acceptance Price Performance
CACC traded down $8.18 during trading on Friday, reaching $487.69. The stock had a trading volume of 15,136 shares, compared to its average volume of 79,189. 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 business has a 50-day moving average of $496.63 and a 200-day moving average of $478.67. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $614.96. The stock has a market cap of $5.87 billion, a PE ratio of 24.56 and a beta of 1.27.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, topping 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%. As a group, equities research analysts anticipate that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on CACC shares. Stephens increased their price objective on Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. StockNews.com raised Credit Acceptance from a "hold" rating to a "buy" rating in a report on Friday, January 31st.
Get Our Latest Stock Report on Credit Acceptance
Insider Activity at Credit Acceptance
In related news, insider Douglas W. Busk sold 3,000 shares of the stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $502.00, for a total transaction of $150,600.00. Following the transaction, the insider now directly owns 19,385 shares of the company's stock, valued at approximately $9,731,270. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.
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.
Further Reading
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