Crow s Nest Holdings LP purchased a new stake in Credit Acceptance Co. (NASDAQ:CACC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 75,000 shares of the credit services provider's stock, valued at approximately $35,210,000. Credit Acceptance accounts for approximately 7.4% of Crow s Nest Holdings LP's holdings, making the stock its 8th largest holding. Crow s Nest Holdings LP owned approximately 0.62% of Credit Acceptance as of its most recent SEC filing.
A number of other large investors have also modified their holdings of CACC. Eagle Bay Advisors LLC purchased a new stake in shares of Credit Acceptance during the 4th quarter worth $28,000. First Horizon Advisors Inc. acquired a new position in shares of Credit Acceptance during the 4th quarter worth about $34,000. TD Private Client Wealth LLC purchased a new position in shares of Credit Acceptance in the 4th quarter valued at about $37,000. Farther Finance Advisors LLC acquired a new stake in shares of Credit Acceptance during the 4th quarter worth about $38,000. Finally, US Bancorp DE lifted its stake in Credit Acceptance by 50.4% during the fourth quarter. US Bancorp DE now owns 179 shares of the credit services provider's stock worth $84,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 81.71% of the company's stock.
Credit Acceptance Stock Performance
Credit Acceptance stock traded down $2.86 during trading hours on Friday, reaching $490.64. 106,840 shares of the stock were exchanged, compared to its average volume of 65,650. The stock has a market cap of $5.69 billion, a P/E ratio of 24.70 and a beta of 1.23. The firm's 50 day moving average is $487.94 and its 200 day moving average is $482.57. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $614.96.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $571.10 million during the quarter, compared to analysts' expectations of $570.25 million. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. Credit Acceptance's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.28 EPS. Analysts predict that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
CACC has been the subject of several research analyst reports. Stephens upped their price objective on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st.
Check Out Our Latest Analysis on Credit Acceptance
Insider Activity at Credit Acceptance
In other news, insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total value of $150,600.00. Following the sale, the insider now directly owns 19,385 shares in the company, valued at $9,731,270. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas W. Busk sold 3,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the completion of the transaction, the insider now directly owns 3,112 shares of the company's stock, valued at $1,605,698.64. The trade was a 49.08 % decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.
About Credit Acceptance
(
Free Report)
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.
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