1,449 Shares in Credit Acceptance Co. (NASDAQ:CACC) Bought by Park Avenue Securities LLC

Park Avenue Securities LLC purchased a new stake in Credit Acceptance Co. (NASDAQ:CACC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,449 shares of the credit services provider’s stock, valued at approximately $680,000.

Other hedge funds also recently made changes to their positions in the company. Abrams Bison Investments LLC lifted its position in shares of Credit Acceptance by 30.5% during the 3rd quarter. Abrams Bison Investments LLC now owns 228,306 shares of the credit services provider’s stock worth $101,235,000 after buying an additional 53,306 shares during the period. Smead Capital Management Inc. lifted its holdings in shares of Credit Acceptance by 3.5% during the third quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider’s stock valued at $92,155,000 after acquiring an additional 7,012 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Credit Acceptance by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 179,655 shares of the credit services provider’s stock valued at $92,455,000 after acquiring an additional 7,064 shares during the period. MIG Capital LLC grew its holdings in shares of Credit Acceptance by 18.7% in the 3rd quarter. MIG Capital LLC now owns 116,491 shares of the credit services provider’s stock worth $51,654,000 after purchasing an additional 18,351 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Credit Acceptance by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider’s stock worth $49,401,000 after purchasing an additional 2,522 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Insiders Place Their Bets

In other news, COO Jonathan Lum sold 552 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were 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 of the company’s stock, valued at approximately $15,428,420.70. This trade represents a 1.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

CACC has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Credit Acceptance from a “buy” rating to a “hold” rating in a research report on Thursday. Stephens started coverage on Credit Acceptance in a report on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 target price on the stock. Finally, TD Cowen decreased their price target on 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 Stock Up 1.8 %

Shares of NASDAQ CACC opened at $505.29 on Thursday. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $616.66. The firm’s 50-day simple moving average is $473.29 and its 200 day simple moving average is $475.55. 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 company has a market cap of $6.12 billion, a price-to-earnings ratio of 33.93 and a beta of 1.46.

Credit Acceptance (NASDAQ:CACC) last announced its earnings results 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. The company had revenue of $550.30 million for the quarter, compared to analyst estimates of $548.13 million. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. Credit Acceptance’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business earned $10.70 earnings per share. On average, research analysts expect that Credit Acceptance Co. will post 36.53 earnings per share for the current fiscal year.

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.