London Co. of Virginia Acquires Shares of 102,560 Credit Acceptance Co. (NASDAQ:CACC)

London Co. of Virginia acquired a new position in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 102,560 shares of the credit services provider's stock, valued at approximately $48,148,000. London Co. of Virginia owned 0.85% of Credit Acceptance as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Eagle Bay Advisors LLC bought a new stake in shares of Credit Acceptance during the fourth quarter worth $28,000. First Horizon Advisors Inc. acquired a new stake in shares of Credit Acceptance during the 4th quarter valued at $34,000. TD Private Client Wealth LLC bought a new stake in Credit Acceptance during the 4th quarter worth $37,000. Farther Finance Advisors LLC acquired a new position in Credit Acceptance in the 4th quarter worth about $38,000. Finally, US Bancorp DE raised its position in Credit Acceptance by 50.4% in the fourth quarter. US Bancorp DE now owns 179 shares of the credit services provider's stock valued at $84,000 after purchasing an additional 60 shares during the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on CACC. Stephens boosted their price target on Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. StockNews.com upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a report on Friday, January 31st.

Insider Transactions at Credit Acceptance

In other Credit Acceptance 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 value of $1,547,910.00. Following the transaction, the insider now directly owns 3,112 shares of the company's stock, valued at approximately $1,605,698.64. The trade was a 49.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas J. Elliott sold 300 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total transaction of $150,600.00. Following the sale, the insider now directly 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. Corporate insiders own 5.30% of the company's stock.

Credit Acceptance Trading Up 1.1%

Credit Acceptance stock traded up $5.35 during mid-day trading on Thursday, hitting $501.54. 118,904 shares of the stock were exchanged, compared to its average volume of 67,459. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 25.25 and a beta of 1.23. Credit Acceptance Co. has a 12 month low of $409.22 and a 12 month high of $614.96. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63. The firm's fifty day simple moving average is $488.69 and its two-hundred day simple moving average is $482.99.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share for the quarter, missing analysts' consensus estimates of $10.31 by ($0.96). The firm had revenue of $571.10 million for the quarter, compared to the consensus estimate of $570.25 million. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. Credit Acceptance's quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business earned $9.28 EPS. Analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current 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.