Beacon Pointe Advisors LLC Has $354,000 Holdings in Credit Acceptance Co. (NASDAQ:CACC)

Beacon Pointe Advisors LLC decreased its position in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 47.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 753 shares of the credit services provider's stock after selling 688 shares during the period. Beacon Pointe Advisors LLC's holdings in Credit Acceptance were worth $354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC acquired a new stake in shares of Credit Acceptance in the fourth quarter worth $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 acquired a new stake in Credit Acceptance during the 4th quarter worth about $37,000. Farther Finance Advisors LLC purchased a new position in Credit Acceptance during the 4th quarter valued at about $38,000. Finally, US Bancorp DE increased its holdings in shares of Credit Acceptance by 50.4% in the 4th 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 period. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Credit Acceptance

In other news, insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $502.00, for a total value of $150,600.00. Following the sale, the insider now owns 19,385 shares of the company's stock, valued at approximately $9,731,270. This represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction on 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 of the company's stock, valued at approximately $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 insiders.

Credit Acceptance Stock Performance

CACC opened at $488.58 on Monday. 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 stock's 50 day moving average price is $486.50 and its two-hundred day moving average price is $482.03. The firm has a market capitalization of $5.74 billion, a P/E ratio of 24.60 and a beta of 1.27. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month 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 EPS for the quarter, missing analysts' consensus estimates of $10.31 by ($0.96). Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. The company had revenue of $571.10 million for the quarter, compared to analyst estimates of $570.25 million. During the same period in the prior year, the company posted $9.28 EPS. The firm's quarterly revenue was up 12.4% on a year-over-year basis. On average, equities analysts forecast that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CACC shares. StockNews.com raised shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Stephens boosted their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a report on Friday, January 31st.

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.

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