LVW Advisors LLC Sells 21 Shares of Credit Acceptance Co. (NASDAQ:CACC)

LVW Advisors LLC lowered its stake in Credit Acceptance Co. (NASDAQ:CACC) by 3.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 652 shares of the credit services provider’s stock after selling 21 shares during the quarter. LVW Advisors LLC’s holdings in Credit Acceptance were worth $360,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Realta Investment Advisors lifted its holdings in shares of Credit Acceptance by 2.4% in the fourth quarter. Realta Investment Advisors now owns 854 shares of the credit services provider’s stock worth $455,000 after acquiring an additional 20 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Credit Acceptance by 15.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 338 shares of the credit services provider’s stock valued at $180,000 after buying an additional 46 shares during the last quarter. Lodestone Wealth Management LLC raised its holdings in Credit Acceptance by 8.3% in the 4th quarter. Lodestone Wealth Management LLC now owns 1,187 shares of the credit services provider’s stock valued at $632,000 after buying an additional 91 shares during the last quarter. Linden Thomas Advisory Services LLC raised its holdings in Credit Acceptance by 9.3% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 1,399 shares of the credit services provider’s stock valued at $745,000 after buying an additional 119 shares during the last quarter. Finally, Whittier Trust Co. bought a new position in Credit Acceptance in the 4th quarter valued at approximately $74,000. Institutional investors own 81.71% of the company’s stock.

Analysts Set New Price Targets

Separately, TD Cowen dropped their price objective on shares of Credit Acceptance from $465.00 to $420.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $402.33.

Credit Acceptance Stock Performance

NASDAQ:CACC opened at $514.68 on Monday. The company has a market capitalization of $6.23 billion, a PE ratio of 26.41 and a beta of 1.44. The company has a 50 day simple moving average of $497.60 and a two-hundred day simple moving average of $527.95. The company has a debt-to-equity ratio of 3.29, a quick ratio of 13.79 and a current ratio of 13.79. Credit Acceptance Co. has a fifty-two week low of $379.77 and a fifty-two week high of $616.66.

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