Credit Acceptance Co. (NASDAQ:CACC) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its holdings in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,203 shares of the credit services provider's stock after buying an additional 1,318 shares during the quarter. Dimensional Fund Advisors LP owned about 1.51% of Credit Acceptance worth $86,004,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Eagle Bay Advisors LLC purchased a new position in shares of Credit Acceptance in the 4th quarter valued at about $28,000. First Horizon Advisors Inc. acquired a new position in Credit Acceptance during the fourth quarter worth about $34,000. TD Private Client Wealth LLC purchased a new position in shares of Credit Acceptance during the 4th quarter worth approximately $37,000. Farther Finance Advisors LLC purchased a new stake in Credit Acceptance in the 4th quarter valued at approximately $38,000. Finally, US Bancorp DE increased its position in Credit Acceptance by 50.4% during the fourth quarter. US Bancorp DE now owns 179 shares of the credit services provider's stock worth $84,000 after buying an additional 60 shares in the last quarter. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CACC shares. StockNews.com raised shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Friday, January 31st. Stephens increased their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st.

Credit Acceptance Trading Up 3.5 %

CACC stock traded up $16.97 during midday trading on Monday, reaching $505.56. 13,179 shares of the company's stock traded hands, compared to its average volume of 63,274. The business has a 50-day moving average price of $486.50 and a two-hundred day moving average price of $482.03. Credit Acceptance Co. has a fifty-two week low of $409.22 and a fifty-two week high of $614.96. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. The company has a market capitalization of $5.94 billion, a P/E ratio of 25.36 and a beta of 1.27.

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. Equities research analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Insider Activity at Credit Acceptance

In other news, insider Douglas W. Busk sold 3,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas J. Elliott sold 300 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $502.00, for a total transaction of $150,600.00. Following the transaction, the insider now owns 19,385 shares in the company, valued at $9,731,270. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.30% of the company's stock.

Credit Acceptance 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.