National Bank of Canada FI Grows Position in Credit Acceptance Co. (NASDAQ:CACC)

National Bank of Canada FI lifted its stake in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 6,314.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,701 shares of the credit services provider's stock after buying an additional 12,503 shares during the quarter. National Bank of Canada FI owned about 0.10% of Credit Acceptance worth $5,963,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Park Avenue Securities LLC acquired a new position in Credit Acceptance during the fourth quarter worth approximately $680,000. Geode Capital Management LLC raised its holdings 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 valued at $49,401,000 after buying an additional 2,522 shares during the last quarter. Corient Private Wealth LLC lifted its position in 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 acquiring an additional 69 shares during the period. Wealthfront Advisers LLC purchased a new position in shares of Credit Acceptance in the 4th quarter valued at approximately $18,146,000. Finally, HighTower Advisors LLC grew its stake in shares of Credit Acceptance by 67.6% in 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 last quarter. Institutional investors and hedge funds own 81.71% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Stephens boosted their price objective on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Friday, January 31st.

Insiders Place Their Bets

In other news, 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 owns 3,112 shares of the company's stock, valued at $1,605,698.64. The trade was a 49.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nicholas J. Elliott sold 300 shares of the 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 completion of the sale, the insider now directly owns 19,385 shares in the company, valued at approximately $9,731,270. The trade was 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 currently owned by company insiders.

Credit Acceptance Price Performance

CACC stock traded down $2.68 on Friday, reaching $493.19. 97,550 shares of the company's stock were exchanged, compared to its average volume of 62,455. The stock has a fifty day moving average of $496.12 and a 200-day moving average of $479.04. The firm has a market cap of $5.93 billion, a PE ratio of 24.83 and a beta of 1.27. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96.

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 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 29.01%. As a group, equities analysts predict that Credit Acceptance Co. will post 53.24 EPS for the current fiscal 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.