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

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

Several other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in Credit Acceptance by 623.9% in the fourth quarter. BNP Paribas Financial Markets now owns 1,694 shares of the credit services provider's stock valued at $795,000 after purchasing an additional 1,460 shares during the last quarter. Comerica Bank grew its stake in Credit Acceptance by 24.4% in the fourth quarter. Comerica Bank now owns 983 shares of the credit services provider's stock valued at $462,000 after purchasing an additional 193 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in Credit Acceptance by 140.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,176 shares of the credit services provider's stock valued at $1,491,000 after purchasing an additional 1,855 shares during the last quarter. Northern Trust Corp grew its stake in Credit Acceptance by 7.9% in the fourth quarter. Northern Trust Corp now owns 37,772 shares of the credit services provider's stock valued at $17,732,000 after purchasing an additional 2,773 shares during the last quarter. Finally, Aquatic Capital Management LLC grew its stake in Credit Acceptance by 181.1% in the fourth quarter. Aquatic Capital Management LLC now owns 2,249 shares of the credit services provider's stock valued at $1,056,000 after purchasing an additional 1,449 shares during the last quarter. Hedge funds and other institutional investors own 81.71% of the company's stock.

Insider Buying and Selling

In other Credit Acceptance news, insider Nicholas J. Elliott sold 300 shares of the business's 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 completion of the transaction, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas W. Busk sold 3,000 shares of the business'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 value of $1,547,910.00. Following the completion of the transaction, the insider now directly owns 3,112 shares of the company's stock, valued at $1,605,698.64. The trade was 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 Ratings Changes

Several brokerages have weighed in on CACC. StockNews.com raised Credit Acceptance from a "hold" rating to a "buy" rating in a report on Friday, January 31st. Stephens raised 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 Stock Performance

Shares of Credit Acceptance stock traded up $0.63 on Friday, reaching $502.17. 61,464 shares of the stock were exchanged, compared to its average volume of 67,376. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 25.29 and a beta of 1.23. The business has a 50 day moving average price of $489.67 and a two-hundred day moving average price of $483.73.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its earnings results 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 return on equity of 29.01% and a net margin of 11.46%. The firm had revenue of $571.10 million for the quarter, compared to analyst estimates of $570.25 million. During the same period last year, the firm earned $9.28 EPS. The company's revenue for the quarter was up 12.4% compared to the same quarter last year. Analysts anticipate 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.