Credit Acceptance Co. (NASDAQ:CACC) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its stake in Credit Acceptance Co. (NASDAQ:CACC) by 64.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 408 shares of the credit services provider’s stock after selling 755 shares during the period. Amalgamated Bank’s holdings in Credit Acceptance were worth $181,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in shares of Credit Acceptance in the 2nd quarter worth approximately $51,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Credit Acceptance during the first quarter valued at approximately $156,000. MQS Management LLC acquired a new stake in Credit Acceptance during the first quarter valued at approximately $242,000. Headlands Technologies LLC lifted its stake in 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 purchasing an additional 497 shares during the last quarter. Finally, Creative Planning acquired a new stake in Credit Acceptance during the second quarter valued at approximately $282,000. 81.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Credit Acceptance

In other news, insider Thomas W. Smith sold 1,200 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $451.01, for a total transaction of $541,212.00. Following the transaction, the insider now owns 74,450 shares in the company, valued at $33,577,694.50. This represents a 1.59 % decrease in their position. The sale 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.

Wall Street Analyst Weigh In

Several research firms recently commented on CACC. Stephens began coverage on shares of Credit Acceptance in a research note on Wednesday, November 13th. They set an “equal weight” rating and a $452.00 target price for the company. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, TD Cowen reduced their price target on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a research report on Friday, November 1st.

Credit Acceptance Stock Up 0.8 %

Shares of NASDAQ:CACC opened at $445.32 on Monday. The company has a debt-to-equity ratio of 3.79, a quick ratio of 23.63 and a current ratio of 23.63. The company has a market cap of $5.39 billion, a PE ratio of 29.91 and a beta of 1.42. Credit Acceptance Co. has a 52 week low of $409.22 and a 52 week high of $616.66. The firm has a 50 day simple moving average of $449.16 and a 200 day simple moving average of $482.84.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, beating the consensus estimate of $7.88 by $0.91. The business had revenue of $550.30 million during the quarter, compared to the consensus estimate of $548.13 million. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.70 EPS. As a group, research analysts expect that Credit Acceptance Co. will post 37.14 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.