Credit Acceptance Co. (NASDAQ:CACC) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,125 shares of the credit services provider’s stock after selling 67 shares during the period. PNC Financial Services Group Inc.’s holdings in Credit Acceptance were worth $599,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CACC. Cerity Partners LLC acquired a new stake in shares of Credit Acceptance during the fourth quarter valued at about $472,516,000. Wellington Management Group LLP grew its stake in shares of Credit Acceptance by 7.4% during the third quarter. Wellington Management Group LLP now owns 644,666 shares of the credit services provider’s stock valued at $296,624,000 after acquiring an additional 44,454 shares in the last quarter. Crow s Nest Holdings LP grew its stake in shares of Credit Acceptance by 39.4% during the fourth quarter. Crow s Nest Holdings LP now owns 92,000 shares of the credit services provider’s stock valued at $49,011,000 after acquiring an additional 26,000 shares in the last quarter. Quantum Capital Management LLC NJ grew its stake in shares of Credit Acceptance by 55.9% during the fourth quarter. Quantum Capital Management LLC NJ now owns 52,896 shares of the credit services provider’s stock valued at $28,179,000 after acquiring an additional 18,960 shares in the last quarter. Finally, Goodnow Investment Group LLC grew its stake in shares of Credit Acceptance by 17.0% during the fourth quarter. Goodnow Investment Group LLC now owns 77,941 shares of the credit services provider’s stock valued at $41,522,000 after acquiring an additional 11,310 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Credit Acceptance Stock Performance

Shares of CACC stock opened at $497.00 on Thursday. The company has a quick ratio of 13.79, a current ratio of 13.79 and a debt-to-equity ratio of 3.29. The business has a 50 day moving average of $498.82 and a two-hundred day moving average of $527.20. Credit Acceptance Co. has a 52 week low of $379.77 and a 52 week high of $616.66. The company has a market cap of $6.02 billion, a P/E ratio of 25.50 and a beta of 1.43.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Tuesday, April 30th. The credit services provider reported $9.28 EPS for the quarter, beating analysts’ consensus estimates of $6.81 by $2.47. Credit Acceptance had a return on equity of 30.70% and a net margin of 12.83%. The company had revenue of $508.00 million during the quarter, compared to the consensus estimate of $497.71 million. During the same period in the previous year, the firm posted $9.71 earnings per share. Credit Acceptance’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, analysts anticipate that Credit Acceptance Co. will post 40.29 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CACC. TD Cowen reduced their price target on shares of Credit Acceptance from $465.00 to $420.00 and set a “sell” rating on the stock in a research report on Thursday, May 2nd. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Credit Acceptance currently has an average rating of “Hold” and an average target price of $402.33.

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.