Aquatic Capital Management LLC Grows Position in Credit Acceptance Co. (NASDAQ:CACC)

Aquatic Capital Management LLC lifted its holdings in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 181.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,249 shares of the credit services provider's stock after purchasing an additional 1,449 shares during the period. Aquatic Capital Management LLC's holdings in Credit Acceptance were worth $1,056,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Twin Lions Management LLC acquired a new position in Credit Acceptance during the 4th quarter worth $21,093,000. Wealthfront Advisers LLC acquired a new position in shares of Credit Acceptance during the fourth quarter worth about $18,146,000. Envestnet Asset Management Inc. raised its holdings in Credit Acceptance by 805.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 27,450 shares of the credit services provider's stock valued at $12,887,000 after acquiring an additional 24,417 shares in the last quarter. Kize Capital LP raised its holdings in Credit Acceptance by 23.7% in the fourth quarter. Kize Capital LP now owns 84,233 shares of the credit services provider's stock valued at $39,544,000 after acquiring an additional 16,156 shares in the last quarter. Finally, Barclays PLC grew its holdings in Credit Acceptance by 277.1% during the 4th quarter. Barclays PLC now owns 19,763 shares of the credit services provider's stock worth $9,277,000 after acquiring an additional 14,522 shares in the last quarter. 81.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Nicholas J. Elliott sold 300 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $502.00, for a total transaction of $150,600.00. Following the completion of the sale, the insider now owns 19,385 shares in the company, valued at approximately $9,731,270. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $1,547,910.00. Following the completion of the transaction, the insider now owns 3,112 shares in the company, valued at $1,605,698.64. This trade represents a 49.08 % 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 Stock Up 0.1 %

Shares of NASDAQ CACC traded up $0.30 during mid-day trading on Tuesday, reaching $496.41. The company had a trading volume of 10,718 shares, compared to its average volume of 63,644. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $614.96. The stock has a market cap of $5.76 billion, a P/E ratio of 25.01 and a beta of 1.23. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63. The firm has a 50 day simple moving average of $486.82 and a two-hundred day simple moving average of $482.17.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The credit services provider reported $9.35 EPS 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 analyst estimates of $570.25 million. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. The firm's revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $9.28 EPS. Sell-side analysts predict that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CACC shares. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a report on Friday, January 31st. Stephens lifted 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.

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.