Dimensional Fund Advisors LP Boosts Position in Credit Acceptance Co. (NASDAQ:CACC)

Dimensional Fund Advisors LP increased its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 179,655 shares of the credit services provider’s stock after acquiring an additional 7,064 shares during the quarter. Dimensional Fund Advisors LP owned about 1.48% of Credit Acceptance worth $92,455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Headlands Technologies LLC grew its holdings in shares of Credit Acceptance by 24,850.0% during the 2nd quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock worth $257,000 after acquiring an additional 497 shares during the period. Rhumbline Advisers grew its stake in Credit Acceptance by 10.1% in the second quarter. Rhumbline Advisers now owns 9,235 shares of the credit services provider’s stock worth $4,753,000 after purchasing an additional 844 shares during the period. nVerses Capital LLC bought a new position in Credit Acceptance in the second quarter worth $51,000. UMB Bank n.a. lifted its position in Credit Acceptance by 4.6% during the second quarter. UMB Bank n.a. now owns 654 shares of the credit services provider’s stock valued at $337,000 after buying an additional 29 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Credit Acceptance by 47.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,110 shares of the credit services provider’s stock valued at $571,000 after buying an additional 359 shares in the last quarter. 81.71% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Thomas W. Smith sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $451.01, for a total value of $541,212.00. Following the transaction, the insider now directly owns 74,450 shares of the company’s stock, valued at approximately $33,577,694.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

Separately, TD Cowen decreased their price target on shares of Credit Acceptance from $440.00 to $400.00 and set a “sell” rating for the company in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Credit Acceptance has an average rating of “Hold” and an average target price of $395.67.

Credit Acceptance Trading Down 1.6 %

Credit Acceptance stock opened at $447.62 on Wednesday. Credit Acceptance Co. has a 12 month low of $379.77 and a 12 month high of $616.66. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 22.97 and a beta of 1.42. The business’s fifty day simple moving average is $482.99 and its two-hundred day simple moving average is $507.16. The company has a current ratio of 19.15, a quick ratio of 19.15 and a debt-to-equity ratio of 3.77.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $10.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.20 by $3.09. The company had revenue of $538.20 million for the quarter, compared to analysts’ expectations of $525.03 million. Credit Acceptance had a net margin of 9.01% and a return on equity of 30.77%. Credit Acceptance’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.69 EPS. As a group, equities analysts predict that Credit Acceptance Co. will post 38.87 earnings per share 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.