US Bancorp DE Lowers Stock Position in Credit Acceptance Co. (NASDAQ:CACC)

US Bancorp DE trimmed its position in shares of Credit Acceptance Co. (NASDAQ:CACC) by 19.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119 shares of the credit services provider’s stock after selling 28 shares during the period. US Bancorp DE’s holdings in Credit Acceptance were worth $53,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in shares of Credit Acceptance during the second quarter valued at approximately $51,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Credit Acceptance during the first quarter valued at approximately $156,000. MQS Management LLC purchased a new position in shares of Credit Acceptance during the first quarter valued at about $242,000. Headlands Technologies LLC raised its stake in Credit Acceptance by 24,850.0% in the second quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock worth $257,000 after buying an additional 497 shares in the last quarter. Finally, Creative Planning purchased a new stake in Credit Acceptance in the second quarter worth about $282,000. Institutional investors own 81.71% of the company’s stock.

Credit Acceptance Stock Up 0.8 %

Shares of Credit Acceptance stock opened at $445.32 on Monday. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 29.91 and a beta of 1.42. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79. The company’s 50 day moving average is $449.16 and its 200 day moving average is $482.84. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $616.66.

Credit Acceptance (NASDAQ:CACC) last announced its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.88 by $0.91. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The business had revenue of $550.30 million for the quarter, compared to analysts’ expectations of $548.13 million. During the same period last year, the firm posted $10.70 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. Research analysts anticipate that Credit Acceptance Co. will post 37.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. TD Cowen decreased their target price on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a research report on Friday, November 1st. Stephens began coverage on Credit Acceptance in a research report on Wednesday, November 13th. They set an “equal weight” rating and a $452.00 price objective for the company. Finally, StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, insider Thomas W. Smith sold 1,200 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 74,450 shares in the company, valued at approximately $33,577,694.50. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.30% of the stock is currently owned by corporate insiders.

Credit Acceptance 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.