Cubist Systematic Strategies LLC Makes New Investment in Credit Acceptance Co. (NASDAQ:CACC)

Cubist Systematic Strategies LLC bought a new position in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 667 shares of the credit services provider's stock, valued at approximately $313,000.

Several other hedge funds have also recently bought and sold shares of CACC. First Horizon Advisors Inc. purchased a new stake in Credit Acceptance during the 4th quarter worth about $34,000. TD Private Client Wealth LLC purchased a new stake in Credit Acceptance during the 4th quarter worth about $37,000. Farther Finance Advisors LLC purchased a new stake in Credit Acceptance during the 4th quarter worth about $38,000. US Bancorp DE increased its holdings in Credit Acceptance by 50.4% during the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider's stock worth $84,000 after purchasing an additional 60 shares during the period. Finally, Aster Capital Management DIFC Ltd increased its holdings in Credit Acceptance by 245.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 256 shares of the credit services provider's stock worth $120,000 after purchasing an additional 182 shares during the period. Institutional investors and hedge funds own 81.71% of the company's stock.

Insider Activity at Credit Acceptance

In related news, insider Douglas W. Busk sold 3,000 shares of the company's 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 of the company's stock, valued at $1,605,698.64. This represents a 49.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction dated 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 approximately $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. Insiders own 5.30% of the company's stock.

Credit Acceptance Stock Down 1.0%

Shares of CACC traded down $4.65 during mid-day trading on Friday, reaching $476.81. The company's stock had a trading volume of 99,040 shares, compared to its average volume of 68,163. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $614.96. The stock has a market cap of $5.53 billion, a PE ratio of 24.01 and a beta of 1.23. 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's 50 day moving average is $490.79 and its 200 day moving average is $485.51.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its 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 firm had revenue of $571.10 million during the quarter, compared to analyst estimates 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 period last year, the company earned $9.28 earnings per share. Equities analysts anticipate that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CACC. Stephens upped 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. Wall Street Zen upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a report on Friday, January 31st.

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.