Credit Acceptance Co. (NASDAQ:CACC) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 44.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 300,047 shares of the credit services provider's stock after selling 242,624 shares during the quarter. Wellington Management Group LLP owned 2.49% of Credit Acceptance worth $140,860,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CACC. Wealthfront Advisers LLC purchased a new position in Credit Acceptance during the 4th quarter worth $18,146,000. Oddo BHF Asset Management Sas purchased a new position in Credit Acceptance during the third quarter worth about $3,020,000. KBC Group NV raised its holdings in Credit Acceptance by 3,197.5% during the fourth quarter. KBC Group NV now owns 6,661 shares of the credit services provider's stock worth $3,127,000 after purchasing an additional 6,459 shares in the last quarter. Vanguard Group Inc. lifted its position in Credit Acceptance by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 486,828 shares of the credit services provider's stock valued at $228,546,000 after purchasing an additional 5,134 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Credit Acceptance in the 4th quarter valued at approximately $2,196,000. Institutional investors and hedge funds own 81.71% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CACC. StockNews.com raised Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Friday, January 31st. 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.

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Insider Activity

In other news, insider Nicholas J. Elliott sold 300 shares of the stock in a transaction that occurred on 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 directly owns 19,385 shares in the company, valued at $9,731,270. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction that occurred on 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 owns 3,112 shares of the company's stock, valued at $1,605,698.64. This represents a 49.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.30% of the company's stock.

Credit Acceptance Price Performance

CACC stock traded up $15.26 during trading on Tuesday, reaching $480.29. 45,001 shares of the company were exchanged, compared to its average volume of 61,060. 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 stock's 50 day moving average price is $499.59 and its 200 day moving average price is $477.81. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $614.96. The company has a market cap of $5.78 billion, a P/E ratio of 24.18 and a beta of 1.27.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released 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 return on equity of 29.01% and a net margin of 11.46%. As a group, analysts predict that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal 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.