Barclays PLC Boosts Stock Position in Credit Acceptance Co. (NASDAQ:CACC)

Barclays PLC increased its position in Credit Acceptance Co. (NASDAQ:CACC) by 85.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,241 shares of the credit services provider’s stock after acquiring an additional 2,420 shares during the quarter. Barclays PLC’s holdings in Credit Acceptance were worth $2,324,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CACC. nVerses Capital LLC purchased a new stake in shares of Credit Acceptance in the second quarter worth $51,000. Quest Partners LLC boosted its holdings in Credit Acceptance by 11,900.0% in the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after buying an additional 119 shares during the period. Point72 Hong Kong Ltd bought a new position in Credit Acceptance in the 3rd quarter worth $177,000. Headlands Technologies LLC increased its stake in Credit Acceptance by 24,850.0% in the 2nd quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock worth $257,000 after buying an additional 497 shares in the last quarter. Finally, Creative Planning bought a new stake in Credit Acceptance during the second quarter valued at about $282,000. Institutional investors own 81.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CACC. Stephens assumed coverage on Credit Acceptance in a research report on Wednesday, November 13th. They set an “equal weight” rating and a $452.00 target price for the company. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, TD Cowen reduced their price objective on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a research report on Friday, November 1st.

Credit Acceptance Trading Up 1.6 %

Shares of CACC stock opened at $468.79 on Thursday. The stock’s 50-day moving average price is $467.38 and its 200-day moving average price is $478.93. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $616.66. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 31.48 and a beta of 1.46. The company has a current ratio of 23.63, a quick ratio of 23.63 and a debt-to-equity ratio of 3.79.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, topping 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 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. Equities research analysts predict that Credit Acceptance Co. will post 36.54 EPS for the current fiscal year.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total transaction of $270,424.80. Following the sale, the chief operating officer now directly owns 31,493 shares in the company, valued at $15,428,420.70. This represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 5.30% of the stock is owned by company insiders.

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.