Credit Acceptance Co. (NASDAQ:CACC) Stock Holdings Increased by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,379 shares of the credit services provider’s stock after acquiring an additional 2,522 shares during the period. Geode Capital Management LLC owned approximately 0.92% of Credit Acceptance worth $49,401,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of Credit Acceptance by 85.8% in the 3rd quarter. Barclays PLC now owns 5,241 shares of the credit services provider’s stock worth $2,324,000 after buying an additional 2,420 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Credit Acceptance in the 3rd quarter worth $245,000. Janus Henderson Group PLC raised its stake in shares of Credit Acceptance by 11.4% in the 3rd quarter. Janus Henderson Group PLC now owns 3,340 shares of the credit services provider’s stock worth $1,481,000 after buying an additional 343 shares in the last quarter. HighTower Advisors LLC raised 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 in the last quarter. Finally, Centiva Capital LP bought a new stake in shares of Credit Acceptance in the 3rd quarter worth $412,000. Institutional investors own 81.71% of the company’s stock.

Credit Acceptance Stock Performance

Shares of NASDAQ CACC opened at $461.36 on Tuesday. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $616.66. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 30.98 and a beta of 1.46. The stock’s fifty day simple moving average is $467.33 and its 200 day simple moving average is $479.01.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, beating analysts’ consensus estimates of $7.88 by $0.91. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The business had revenue of $550.30 million for the quarter, compared to the consensus estimate of $548.13 million. During the same quarter in the previous year, the company posted $10.70 earnings per share. Credit Acceptance’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Credit Acceptance Co. will post 36.54 earnings per share for the current fiscal year.

Insider Activity

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total value of $270,424.80. Following the transaction, the chief operating officer now 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CACC has been the topic of a number of research reports. Stephens initiated coverage on Credit Acceptance in a research note on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price objective on the stock. TD Cowen decreased their target price on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a report on Friday, November 1st. Finally, StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th.

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.