Janney Montgomery Scott LLC Has $257,000 Position in Credit Acceptance Co. (NASDAQ:CACC)

Janney Montgomery Scott LLC reduced its position in shares of Credit Acceptance Co. (NASDAQ:CACC) by 48.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 548 shares of the credit services provider’s stock after selling 506 shares during the period. Janney Montgomery Scott LLC’s holdings in Credit Acceptance were worth $257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. HighTower Advisors LLC grew its stake in Credit Acceptance by 5.7% in the third quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider’s stock valued at $263,000 after purchasing an additional 32 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Credit Acceptance in the fourth quarter valued at approximately $28,000. Wedge Capital Management L L P NC lifted its position in shares of Credit Acceptance by 2.7% in the fourth quarter. Wedge Capital Management L L P NC now owns 2,687 shares of the credit services provider’s stock valued at $1,261,000 after buying an additional 70 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Credit Acceptance by 10.7% in the fourth quarter. UMB Bank n.a. now owns 743 shares of the credit services provider’s stock valued at $349,000 after buying an additional 72 shares during the last quarter. Finally, PDT Partners LLC lifted its position in shares of Credit Acceptance by 1.9% in the third quarter. PDT Partners LLC now owns 5,458 shares of the credit services provider’s stock valued at $2,420,000 after buying an additional 100 shares during the last quarter. 81.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CACC has been the subject of a number of recent analyst reports. TD Cowen cut their price objective 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 raised their price objective on Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st.

Credit Acceptance Stock Performance

NASDAQ:CACC opened at $502.71 on Thursday. The stock has a market cap of $6.09 billion, a P/E ratio of 25.31 and a beta of 1.47. The stock has a 50 day simple moving average of $486.86 and a 200 day simple moving average of $470.09. The company has a current ratio of 23.63, a quick ratio of 23.63 and a debt-to-equity ratio of 3.79. Credit Acceptance Co. has a 1-year low of $409.22 and a 1-year high of $614.96.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, topping the consensus estimate of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.60% and a net margin of 11.46%. Research analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Jonathan Lum sold 552 shares of Credit Acceptance stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total transaction of $270,424.80. Following the completion of the sale, the chief operating officer now directly owns 31,493 shares of the company’s stock, valued at approximately $15,428,420.70. This trade represents a 1.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.30% of the stock is currently owned by insiders.

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.