Balyasny Asset Management L.P. Trims Stock Position in Credit Acceptance Co. (NASDAQ:CACC)

Balyasny Asset Management L.P. decreased its position in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 32.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,987 shares of the credit services provider's stock after selling 3,396 shares during the quarter. Balyasny Asset Management L.P. owned 0.06% of Credit Acceptance worth $3,280,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CACC. Twin Lions Management LLC bought a new position in shares of Credit Acceptance in the fourth quarter valued at $21,093,000. Wealthfront Advisers LLC bought a new position in Credit Acceptance during the fourth quarter worth about $18,146,000. Envestnet Asset Management Inc. increased its position in shares of Credit Acceptance by 805.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 27,450 shares of the credit services provider's stock worth $12,887,000 after purchasing an additional 24,417 shares during the period. Kize Capital LP raised its position in Credit Acceptance by 23.7% during the fourth quarter. Kize Capital LP now owns 84,233 shares of the credit services provider's stock valued at $39,544,000 after purchasing an additional 16,156 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Credit Acceptance by 277.1% in the fourth quarter. Barclays PLC now owns 19,763 shares of the credit services provider's stock worth $9,277,000 after acquiring an additional 14,522 shares during the last quarter. 81.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Credit Acceptance Trading Up 1.1%

NASDAQ:CACC traded up $5.35 during mid-day trading on Thursday, reaching $501.54. 118,904 shares of the company's stock traded hands, compared to its average volume of 86,886. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 25.25 and a beta of 1.23. The company has a 50 day moving average price of $488.69 and a 200-day moving average price of $482.99. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month 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.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share for the quarter, missing analysts' consensus estimates of $10.31 by ($0.96). The firm had revenue of $571.10 million for the quarter, compared to the consensus estimate of $570.25 million. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. The firm's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.28 earnings per share. On average, sell-side analysts predict that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Insider Buying and Selling at Credit Acceptance

In other news, insider Nicholas J. Elliott sold 300 shares of Credit Acceptance stock in a transaction that occurred 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 completion of the sale, the insider now owns 19,385 shares of the company's stock, valued at approximately $9,731,270. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Douglas W. Busk sold 3,000 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total value of $1,547,910.00. Following the sale, the insider now owns 3,112 shares of the company's stock, valued at approximately $1,605,698.64. This represents a 49.08% decrease in their position. The disclosure for this sale can be found here. 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.