Sei Investments Co. acquired a new stake in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 574 shares of the credit services provider's stock, valued at approximately $269,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. HighTower Advisors LLC raised its stake in Credit Acceptance by 5.7% during the 3rd quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider's stock worth $263,000 after buying an additional 32 shares during the period. Eagle Bay Advisors LLC acquired a new position in shares of Credit Acceptance during the fourth quarter worth approximately $28,000. US Bancorp DE grew its position in Credit Acceptance by 50.4% in the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider's stock valued at $84,000 after purchasing an additional 60 shares during the period. Xponance Inc. increased its stake in Credit Acceptance by 10.4% during the 4th quarter. Xponance Inc. now owns 730 shares of the credit services provider's stock valued at $343,000 after purchasing an additional 69 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in Credit Acceptance by 7.2% during the fourth quarter. Corient Private Wealth LLC now owns 1,030 shares of the credit services provider's stock worth $484,000 after buying an additional 69 shares during the last quarter. Institutional investors own 81.71% of the company's stock.
Insider Activity
In other Credit Acceptance news, insider Douglas W. Busk sold 3,000 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total value of $1,547,910.00. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas J. Elliott sold 300 shares of Credit Acceptance 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 sale, the insider now owns 19,385 shares of the company's stock, valued at approximately $9,731,270. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a report on Friday, January 31st. Stephens boosted 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.
Check Out Our Latest Report on Credit Acceptance
Credit Acceptance Stock Performance
NASDAQ CACC traded down $2.27 on Wednesday, hitting $486.41. 3,789 shares of the stock traded hands, compared to its average volume of 62,119. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 24.43 and a beta of 1.27. The business's fifty day moving average is $495.06 and its two-hundred day moving average is $479.71. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. Credit Acceptance Co. has a 12 month low of $409.22 and a 12 month high of $614.96.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, topping the consensus estimate 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 analysts anticipate that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.
About Credit Acceptance
(
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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