Marshall Wace LLP Buys 1,437 Shares of Credit Acceptance Co. (NASDAQ:CACC)

Marshall Wace LLP grew its stake in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 53.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,143 shares of the credit services provider's stock after buying an additional 1,437 shares during the period. Marshall Wace LLP's holdings in Credit Acceptance were worth $1,945,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CACC. Gamco Investors INC. ET AL lifted its holdings in Credit Acceptance by 5.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 2,185 shares of the credit services provider's stock valued at $1,026,000 after purchasing an additional 110 shares in the last quarter. Bridgewater Associates LP raised its position in shares of Credit Acceptance by 268.2% during the 4th quarter. Bridgewater Associates LP now owns 8,354 shares of the credit services provider's stock valued at $3,922,000 after purchasing an additional 6,085 shares during the period. Park Avenue Securities LLC purchased a new position in shares of Credit Acceptance during the 4th quarter valued at $680,000. Corient Private Wealth LLC boosted its holdings in Credit Acceptance by 7.2% in the 4th quarter. Corient Private Wealth LLC now owns 1,030 shares of the credit services provider's stock worth $484,000 after buying an additional 69 shares during the period. Finally, HighTower Advisors LLC increased its stake in Credit Acceptance by 67.6% in the 4th quarter. HighTower Advisors LLC now owns 997 shares of the credit services provider's stock worth $468,000 after buying an additional 402 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors.

Credit Acceptance Price Performance

CACC traded up $15.22 during trading on Friday, hitting $483.01. 50,628 shares of the company traded hands, compared to its average volume of 62,991. The company has a market cap of $5.67 billion, a PE ratio of 24.34 and a beta of 1.27. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $614.96. 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 stock's 50-day simple moving average is $486.32 and its two-hundred day simple moving average is $481.82.

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 (EPS) 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 firm had revenue of $571.10 million during the quarter, compared to the consensus estimate of $570.25 million. During the same period last year, the firm posted $9.28 earnings per share. The company's revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Credit Acceptance news, insider Nicholas J. Elliott sold 300 shares of Credit Acceptance stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $502.00, for a total value 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 filing with the SEC, which is available at this link. Also, insider Douglas W. Busk sold 3,000 shares of the company'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 sale, the insider now owns 3,112 shares in the company, valued at $1,605,698.64. This represents a 49.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CACC shares. StockNews.com upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Stephens boosted 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.