Credit Acceptance Co. (NASDAQ:CACC) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC grew its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC) by 67.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 997 shares of the credit services provider’s stock after acquiring an additional 402 shares during the period. HighTower Advisors LLC’s holdings in Credit Acceptance were worth $468,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealthfront Advisers LLC acquired a new stake in Credit Acceptance during the 4th quarter valued at approximately $18,146,000. AlphaQuest LLC grew its position in shares of Credit Acceptance by 759.2% during the fourth quarter. AlphaQuest LLC now owns 1,031 shares of the credit services provider’s stock worth $484,000 after buying an additional 911 shares in the last quarter. M&T Bank Corp increased its stake in shares of Credit Acceptance by 10.5% in the fourth quarter. M&T Bank Corp now owns 977 shares of the credit services provider’s stock worth $459,000 after buying an additional 93 shares during the last quarter. Atria Investments Inc increased its stake in shares of Credit Acceptance by 70.8% in the fourth quarter. Atria Investments Inc now owns 2,021 shares of the credit services provider’s stock worth $949,000 after buying an additional 838 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Credit Acceptance by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 95,854 shares of the credit services provider’s stock valued at $45,000,000 after acquiring an additional 1,803 shares in the last quarter. 81.71% of the stock is owned by hedge funds and other institutional investors.

Credit Acceptance Stock Performance

Shares of CACC opened at $513.13 on Monday. The stock has a market capitalization of $6.17 billion, a PE ratio of 25.84 and a beta of 1.51. The business’s fifty day moving average price is $500.90 and its 200 day moving average price is $475.37. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $614.96.

Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Thursday, January 30th. The credit services provider reported $10.17 EPS 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%. Equities research analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current year.

Insider Buying and Selling at Credit Acceptance

In related news, insider Douglas W. Busk sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the sale, the insider now owns 3,112 shares of the company’s stock, valued at $1,605,698.64. The trade was a 49.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas J. Elliott sold 300 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were 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 approximately $9,731,270. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CACC shares. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Stephens lifted their price target on Credit Acceptance from $452.00 to $500.00 and gave the stock 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.