Credit Acceptance Co. (NASDAQ:CACC) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,854 shares of the credit services provider’s stock after acquiring an additional 1,803 shares during the period. Charles Schwab Investment Management Inc. owned about 0.79% of Credit Acceptance worth $45,000,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Bay Advisors LLC acquired a new stake in shares of Credit Acceptance in the 4th quarter worth about $28,000. First Horizon Advisors Inc. purchased a new stake in shares of Credit Acceptance during the fourth quarter worth $34,000. Quest Partners LLC grew its position in Credit Acceptance by 11,900.0% in the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after acquiring an additional 119 shares in the last quarter. US Bancorp DE boosted its position in Credit Acceptance by 50.4% during the fourth quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock worth $84,000 after purchasing an additional 60 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Credit Acceptance during the fourth quarter valued at about $142,000. Institutional investors own 81.71% of the company’s stock.

Insider Activity 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 transaction, the chief operating officer now directly owns 31,493 shares in the company, valued at $15,428,420.70. The trade was a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.30% of the stock is owned by corporate insiders.

Credit Acceptance Stock Up 4.3 %

CACC stock opened at $478.21 on Friday. The firm has a market capitalization of $5.75 billion, a PE ratio of 24.08 and a beta of 1.51. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63. Credit Acceptance Co. has a 1-year low of $409.22 and a 1-year high of $614.96. The business’s 50 day simple moving average is $492.98 and its 200 day simple moving average is $471.66.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, beating 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, research analysts anticipate that Credit Acceptance Co. will post 53.24 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. 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.

Credit Acceptance Company 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.