Principal Securities Inc. Makes New Investment in Credit Acceptance Co. (NASDAQ:CACC)

Principal Securities Inc. acquired a new stake in shares of Credit Acceptance Co. (NASDAQ:CACC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 419 shares of the credit services provider’s stock, valued at approximately $197,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Abrams Bison Investments LLC grew its stake in shares of Credit Acceptance by 30.5% during the 3rd quarter. Abrams Bison Investments LLC now owns 228,306 shares of the credit services provider’s stock valued at $101,235,000 after buying an additional 53,306 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Credit Acceptance by 24.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,051 shares of the credit services provider’s stock worth $41,704,000 after acquiring an additional 18,530 shares during the last quarter. MIG Capital LLC raised its holdings in shares of Credit Acceptance by 18.7% in the 3rd quarter. MIG Capital LLC now owns 116,491 shares of the credit services provider’s stock worth $51,654,000 after purchasing an additional 18,351 shares during the period. Smead Capital Management Inc. lifted its stake in shares of Credit Acceptance by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider’s stock valued at $92,155,000 after purchasing an additional 7,012 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Credit Acceptance during the 3rd quarter worth about $3,020,000. Institutional investors and hedge funds own 81.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CACC shares. Stephens raised their target price on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. 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.

Insider Transactions at Credit Acceptance

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total value of $270,424.80. Following the sale, the chief operating officer now directly owns 31,493 shares in the company, valued at approximately $15,428,420.70. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.30% of the company’s stock.

Credit Acceptance Stock Down 1.1 %

Credit Acceptance stock opened at $490.21 on Tuesday. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $614.96. The company has a 50-day simple moving average of $490.49 and a 200-day simple moving average of $470.17. The firm has a market capitalization of $5.90 billion, a P/E ratio of 24.68 and a beta of 1.47.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. As a group, equities analysts expect that Credit Acceptance Co. will post 53.24 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.