Brevan Howard Capital Management LP Acquires Shares of 849 Credit Acceptance Co. (NASDAQ:CACC)

Brevan Howard Capital Management LP acquired a new position in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 849 shares of the credit services provider's stock, valued at approximately $399,000.

Other institutional investors have also recently modified their holdings of the company. Eagle Bay Advisors LLC acquired a new position in shares of Credit Acceptance during the 4th quarter worth approximately $28,000. First Horizon Advisors Inc. purchased a new stake in shares of Credit Acceptance in the fourth quarter valued at $34,000. TD Private Client Wealth LLC purchased a new stake in shares of Credit Acceptance in the fourth quarter valued at $37,000. Farther Finance Advisors LLC purchased a new stake in shares of Credit Acceptance in the fourth quarter valued at $38,000. Finally, US Bancorp DE grew its position in shares of 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 period. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Credit Acceptance news, insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the sale, the insider now directly owns 3,112 shares in the company, valued at $1,605,698.64. The trade was a 49.08% 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 Nicholas J. Elliott sold 300 shares of Credit Acceptance stock in a transaction that occurred 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 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 disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CACC. StockNews.com raised Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Stephens upped their target price on Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st.

Credit Acceptance Stock Down 0.4%

Shares of NASDAQ CACC traded down $1.81 on Wednesday, hitting $496.19. The company had a trading volume of 158,638 shares, compared to its average volume of 67,129. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $614.96. The business has a 50 day moving average of $488.69 and a two-hundred day moving average of $482.99. 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 has a market capitalization of $5.76 billion, a P/E ratio of 24.98 and a beta of 1.23.

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

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.