Marshall Wace LLP Buys 4,912 Shares of Credit Acceptance Co. (NASDAQ:CACC)

Marshall Wace LLP raised its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 107.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,480 shares of the credit services provider’s stock after buying an additional 4,912 shares during the quarter. Marshall Wace LLP owned about 0.08% of Credit Acceptance worth $4,879,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in shares of Credit Acceptance in the 2nd quarter worth about $51,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Credit Acceptance during the 1st quarter valued at about $156,000. MQS Management LLC purchased a new position in Credit Acceptance in the first quarter worth about $242,000. FORA Capital LLC bought a new position in shares of Credit Acceptance in the first quarter worth approximately $269,000. Finally, Headlands Technologies LLC grew its holdings in shares of Credit Acceptance by 24,850.0% during the second quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock valued at $257,000 after buying an additional 497 shares during the last quarter. 81.71% of the stock is owned by institutional investors.

Insider Transactions at Credit Acceptance

In related news, insider Thomas W. Smith sold 1,200 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $451.01, for a total transaction of $541,212.00. Following the completion of the sale, the insider now owns 74,450 shares in the company, valued at $33,577,694.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.30% of the company’s stock.

Credit Acceptance Price Performance

Shares of NASDAQ:CACC opened at $438.50 on Wednesday. The company has a debt-to-equity ratio of 3.77, a quick ratio of 19.15 and a current ratio of 19.15. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 22.50 and a beta of 1.42. The business has a 50-day simple moving average of $471.48 and a two-hundred day simple moving average of $504.06. 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 issued its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $10.29 earnings per share for the quarter, beating analysts’ consensus estimates of $7.20 by $3.09. Credit Acceptance had a net margin of 9.01% and a return on equity of 30.77%. The company had revenue of $538.20 million for the quarter, compared to the consensus estimate of $525.03 million. During the same quarter in the prior year, the firm earned $10.69 earnings per share. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, analysts expect that Credit Acceptance Co. will post 38.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, TD Cowen decreased their price objective on shares of Credit Acceptance from $440.00 to $400.00 and set a “sell” rating for the company in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $395.67.

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.