Dark Forest Capital Management LP bought a new stake in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,983 shares of the credit services provider's stock, valued at approximately $931,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CACC. Eagle Bay Advisors LLC bought a new position in Credit Acceptance in the 4th quarter worth $28,000. First Horizon Advisors Inc. purchased a new position in Credit Acceptance during the fourth quarter valued at $34,000. TD Private Client Wealth LLC bought a new stake in shares of Credit Acceptance during the 4th quarter valued at $37,000. Farther Finance Advisors LLC bought a new position in shares of Credit Acceptance in the 4th quarter worth about $38,000. Finally, US Bancorp DE lifted its position in Credit Acceptance by 50.4% during the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider's stock valued at $84,000 after acquiring an additional 60 shares during the period. Institutional investors own 81.71% of the company's stock.
Credit Acceptance Stock Performance
Credit Acceptance stock traded down $3.90 during midday trading on Tuesday, hitting $483.76. The stock had a trading volume of 9,929 shares, compared to its average volume of 62,657. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $614.96. The company has a market capitalization of $5.82 billion, a PE ratio of 24.37 and a beta of 1.27. The firm's fifty day moving average is $487.43 and its two-hundred day moving average is $481.67. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, beating the consensus estimate of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. On average, research analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current year.
Wall Street Analyst Weigh In
Several research firms have issued reports on CACC. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Friday, January 31st. Stephens raised their target price on Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st.
View Our Latest Research Report on Credit Acceptance
Insider Transactions at Credit Acceptance
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 sale, the insider now directly owns 19,385 shares in the company, valued at approximately $9,731,270. The trade was a 1.52 % decrease in their position. The sale 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 Credit Acceptance stock in a transaction dated 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 completion of the sale, the insider now directly owns 3,112 shares in the company, valued at $1,605,698.64. This trade 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.
About Credit Acceptance
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Free Report)
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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