Charles Schwab Investment Management Inc. Boosts Stock Holdings in Credit Acceptance Co. (NASDAQ:CACC)

Charles Schwab Investment Management Inc. grew its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 24.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,051 shares of the credit services provider’s stock after buying an additional 18,530 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.78% of Credit Acceptance worth $41,704,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. nVerses Capital LLC purchased a new stake in shares of Credit Acceptance in the second quarter valued at $51,000. Quest Partners LLC increased its holdings in Credit Acceptance by 11,900.0% during the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after purchasing an additional 119 shares during the last quarter. Headlands Technologies LLC boosted its stake in Credit Acceptance by 24,850.0% during the 2nd quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock valued at $257,000 after acquiring an additional 497 shares during the last quarter. Lountzis Asset Management LLC lifted its position in shares of Credit Acceptance by 22.3% during the third quarter. Lountzis Asset Management LLC now owns 598 shares of the credit services provider’s stock worth $265,000 after purchasing an additional 109 shares during the last quarter. Finally, Creative Planning acquired a new position in shares of Credit Acceptance in the 2nd quarter worth approximately $282,000. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Insider Activity at Credit Acceptance

In other news, insider Thomas W. Smith sold 1,200 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $451.01, for a total value of $541,212.00. Following the completion of the transaction, the insider now owns 74,450 shares of the company’s stock, valued at approximately $33,577,694.50. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.30% of the stock is owned by company insiders.

Credit Acceptance Price Performance

Credit Acceptance stock opened at $485.43 on Tuesday. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $616.66. The company has a current ratio of 23.63, a quick ratio of 23.63 and a debt-to-equity ratio of 3.79. The firm has a market capitalization of $5.88 billion, a P/E ratio of 32.60 and a beta of 1.42. The business has a 50-day moving average of $456.47 and a 200-day moving average of $479.60.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, beating 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 company had revenue of $550.30 million during the quarter, compared to analysts’ expectations of $548.13 million. During the same quarter last year, the company earned $10.70 EPS. Credit Acceptance’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts anticipate that Credit Acceptance Co. will post 36.77 EPS for the current year.

Analyst Ratings Changes

CACC has been the subject of a number of recent analyst reports. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Stephens assumed coverage on shares of Credit Acceptance in a research report on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price target on the stock. Finally, TD Cowen cut their target price on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a research report on Friday, November 1st.

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.