1,205 Shares in Credit Acceptance Co. (NASDAQ:CACC) Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. bought a new stake in Credit Acceptance Co. (NASDAQ:CACC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,205 shares of the credit services provider’s stock, valued at approximately $566,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Quest Partners LLC raised its holdings in Credit Acceptance by 11,900.0% during the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after purchasing an additional 119 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Credit Acceptance by 24.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,051 shares of the credit services provider’s stock valued at $41,704,000 after purchasing an additional 18,530 shares during the period. Quantbot Technologies LP raised its stake in shares of Credit Acceptance by 148.7% in the 3rd quarter. Quantbot Technologies LP now owns 3,069 shares of the credit services provider’s stock worth $1,361,000 after buying an additional 1,835 shares in the last quarter. FMR LLC lifted its holdings in shares of Credit Acceptance by 13.1% in the third quarter. FMR LLC now owns 1,037 shares of the credit services provider’s stock valued at $460,000 after buying an additional 120 shares during the period. Finally, Bridgewater Associates LP bought a new position in Credit Acceptance during the third quarter valued at about $1,006,000. Institutional investors and hedge funds own 81.71% of the company’s stock.

Insiders Place Their Bets

In other news, insider Nicholas J. Elliott sold 300 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total value of $150,600.00. Following the completion of the sale, the insider now owns 19,385 shares of the company’s stock, valued at $9,731,270. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 5.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CACC. Stephens boosted their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

Credit Acceptance Stock Performance

CACC opened at $514.57 on Wednesday. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63. The firm has a market cap of $6.19 billion, a PE ratio of 25.91 and a beta of 1.51. The business has a fifty day simple moving average of $499.07 and a 200-day simple moving average of $473.66. Credit Acceptance Co. has a fifty-two week low of $409.22 and a fifty-two week 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, beating analysts’ consensus estimates 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 predict that Credit Acceptance Co. will post 53.24 EPS for the current fiscal 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.