Credit Acceptance Co. (NASDAQ:CACC) Shares Purchased by Fmr LLC

Fmr LLC boosted its position in shares of Credit Acceptance Co. (NASDAQ:CACC) by 13.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,037 shares of the credit services provider’s stock after buying an additional 120 shares during the period. Fmr LLC’s holdings in Credit Acceptance were worth $460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CACC. nVerses Capital LLC purchased a new stake in shares of Credit Acceptance in the second quarter valued at about $51,000. Quest Partners LLC lifted its position 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 acquiring an additional 119 shares during the period. Headlands Technologies LLC increased its holdings in shares of Credit Acceptance by 24,850.0% in 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 period. Creative Planning purchased a new stake in shares of Credit Acceptance during the second quarter worth approximately $282,000. Finally, Lountzis Asset Management LLC lifted its holdings 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 period. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total value of $270,424.80. Following the sale, the chief operating officer now owns 31,493 shares of the company’s stock, valued at approximately $15,428,420.70. This represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Trading Down 1.7 %

NASDAQ:CACC opened at $460.99 on Friday. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $616.66. 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 stock has a fifty day moving average price of $467.07 and a two-hundred day moving average price of $479.64. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 30.96 and a beta of 1.46.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm posted $10.70 EPS. As a group, sell-side analysts anticipate that Credit Acceptance Co. will post 36.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

CACC has been the subject of a number of analyst reports. TD Cowen cut their price objective 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. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Stephens began coverage on Credit Acceptance in a report on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price objective on the stock.

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.