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

Barclays PLC increased its position in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 277.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,763 shares of the credit services provider's stock after acquiring an additional 14,522 shares during the quarter. Barclays PLC owned about 0.16% of Credit Acceptance worth $9,277,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new stake in Credit Acceptance in the 4th quarter worth about $28,000. First Horizon Advisors Inc. purchased a new stake in Credit Acceptance in the 4th quarter worth about $34,000. TD Private Client Wealth LLC bought a new position in Credit Acceptance in the 4th quarter worth about $37,000. Farther Finance Advisors LLC bought a new position in Credit Acceptance in the 4th quarter worth about $38,000. Finally, US Bancorp DE boosted its stake in Credit Acceptance by 50.4% in the 4th 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 period. Hedge funds and other institutional investors own 81.71% of the company's stock.

Insider Buying and Selling at Credit Acceptance

In related news, insider Nicholas J. Elliott sold 300 shares of Credit Acceptance 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 transaction, the insider now directly owns 19,385 shares of the company's stock, valued at $9,731,270. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Douglas W. Busk sold 3,000 shares of Credit Acceptance 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 transaction, the insider now directly owns 3,112 shares of the company's stock, valued at approximately $1,605,698.64. This trade represents a 49.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on CACC shares. StockNews.com upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Friday, January 31st. Stephens lifted their price target on Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st.

Credit Acceptance Trading Up 0.9 %

Shares of Credit Acceptance stock traded up $4.29 during trading on Monday, reaching $487.65. The company's stock had a trading volume of 49,281 shares, compared to its average volume of 62,864. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $614.96. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 24.55 and a beta of 1.27. The firm's 50-day moving average is $487.43 and its two-hundred day moving average is $481.67. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, beating the consensus estimate of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. On average, sell-side analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

About Credit Acceptance

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.