Credit Acceptance Co. (NASDAQ:CACC) Shares Sold by Hyperion Capital Advisors LP

Hyperion Capital Advisors LP lessened its stake in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 5.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 26,016 shares of the credit services provider's stock after selling 1,485 shares during the quarter. Credit Acceptance accounts for approximately 6.3% of Hyperion Capital Advisors LP's portfolio, making the stock its 6th biggest position. Hyperion Capital Advisors LP owned approximately 0.21% of Credit Acceptance worth $12,213,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Eagle Bay Advisors LLC purchased a new position in shares of Credit Acceptance in the 4th quarter valued at about $28,000. US Bancorp DE increased its stake in 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 last quarter. Xponance Inc. raised its holdings in Credit Acceptance by 10.4% during the fourth quarter. Xponance Inc. now owns 730 shares of the credit services provider's stock worth $343,000 after purchasing an additional 69 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Credit Acceptance by 7.2% during 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 last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in shares of Credit Acceptance by 2.7% in the 4th quarter. Wedge Capital Management L L P NC now owns 2,687 shares of the credit services provider's stock valued at $1,261,000 after buying an additional 70 shares in the last quarter. 81.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Credit Acceptance news, insider Douglas W. Busk sold 3,000 shares of the business's 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 transaction, the insider now owns 3,112 shares in the company, valued at approximately $1,605,698.64. The trade was a 49.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicholas J. Elliott sold 300 shares of the firm's stock in a transaction that occurred 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 sale, the insider now directly owns 19,385 shares of the company's stock, 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. Corporate insiders own 5.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CACC. Stephens boosted their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. StockNews.com upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Friday, January 31st.

Credit Acceptance Trading Down 0.6 %

Shares of Credit Acceptance stock opened at $490.64 on Friday. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. The company has a market capitalization of $5.69 billion, a P/E ratio of 24.70 and a beta of 1.23. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $614.96. The company's fifty day moving average is $487.94 and its two-hundred day moving average is $482.57.

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

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.

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