Credit Acceptance Co. (NASDAQ:CACC) Holdings Decreased by New York State Common Retirement Fund

New York State Common Retirement Fund cut its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 15.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,753 shares of the credit services provider's stock after selling 677 shares during the quarter. New York State Common Retirement Fund's holdings in Credit Acceptance were worth $1,762,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CACC. HighTower Advisors LLC grew its stake in Credit Acceptance by 5.7% in the third quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider's stock worth $263,000 after purchasing an additional 32 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Credit Acceptance in the 4th quarter worth approximately $28,000. Wedge Capital Management L L P NC grew its position in shares of Credit Acceptance by 2.7% in the 4th quarter. Wedge Capital Management L L P NC now owns 2,687 shares of the credit services provider's stock worth $1,261,000 after acquiring an additional 70 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Credit Acceptance by 10.7% in the 4th 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 during the last quarter. Finally, PDT Partners LLC raised its position in shares of Credit Acceptance by 1.9% during the 3rd quarter. PDT Partners LLC now owns 5,458 shares of the credit services provider's stock valued at $2,420,000 after acquiring an additional 100 shares in the last quarter. 81.71% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Credit Acceptance

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total value of $270,424.80. Following the sale, the chief operating officer now owns 31,493 shares in the company, valued at approximately $15,428,420.70. This trade represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.30% of the stock is currently owned by insiders.

Credit Acceptance Stock Performance

Shares of NASDAQ CACC traded down $3.46 during mid-day trading on Thursday, hitting $477.21. The company had a trading volume of 25,087 shares, compared to its average volume of 61,727. Credit Acceptance Co. has a 12 month low of $409.22 and a 12 month high of $614.96. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 24.03 and a beta of 1.47. 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 firm's 50 day simple moving average is $491.92 and its two-hundred day simple moving average is $471.37.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share (EPS) 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%. As a group, equities research analysts forecast that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on CACC. StockNews.com raised shares of Credit Acceptance from a "hold" rating to a "buy" rating in a report on Friday, January 31st. Stephens lifted their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a report on Friday, January 31st.

Credit Acceptance 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.