Corient Private Wealth LLC Grows Stock Holdings in Credit Acceptance Co. (NASDAQ:CACC)

Corient Private Wealth LLC increased its stake in Credit Acceptance Co. (NASDAQ:CACC) by 7.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,030 shares of the credit services provider’s stock after purchasing an additional 69 shares during the quarter. Corient Private Wealth LLC’s holdings in Credit Acceptance were worth $484,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CACC. HighTower Advisors LLC boosted its stake in shares of Credit Acceptance by 5.7% in the 3rd quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider’s stock worth $263,000 after buying an additional 32 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in Credit Acceptance in the fourth quarter valued at about $28,000. US Bancorp DE boosted its position in Credit Acceptance by 50.4% in 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 last quarter. Wedge Capital Management L L P NC grew its stake in shares of Credit Acceptance by 2.7% during the 4th 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 purchasing an additional 70 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Credit Acceptance by 10.7% during the 4th quarter. UMB Bank n.a. now owns 743 shares of the credit services provider’s stock valued at $349,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 81.71% of the company’s stock.

Credit Acceptance Stock Up 0.4 %

CACC stock opened at $513.13 on Friday. The business’s 50-day moving average price is $500.90 and its 200-day moving average price is $474.99. The stock has a market cap of $6.17 billion, a P/E ratio of 25.84 and a beta of 1.51. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results 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 net margin of 11.46% and a return on equity of 29.01%. On average, equities research analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CACC. Stephens boosted 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 report on Friday, January 31st. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st.

Insider Buying and Selling

In related news, insider Nicholas J. Elliott sold 300 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 19,385 shares of the company’s stock, valued at approximately $9,731,270. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas W. Busk sold 3,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $1,605,698.64. This trade represents a 49.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.

Credit Acceptance 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.