Allianz Asset Management GmbH Buys 1,703 Shares of Credit Acceptance Corporation $CACC

Key Points

• Allianz Asset Management GmbH increased its stake in Credit Acceptance Corporation by 7.6%, acquiring an additional 1,703 shares, raising their total ownership to approximately $12.22 million as of their latest SEC filing.
• Credit Acceptance Corporation reported $8.56 earnings per share for the last quarter, missing estimates by $1.28, while revenue increased by 8.5% compared to the previous year to reach $583.80 million.
• Current analyst consensus rates Credit Acceptance as a "Reduce" with a price target of $440.00, as per recent evaluations from Weiss Ratings and other analysts.

Allianz Asset Management GmbH lifted its stake in shares of Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 7.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 23,988 shares of the credit services provider's stock after buying an additional 1,703 shares during the quarter. Allianz Asset Management GmbH owned about 0.21% of Credit Acceptance worth $12,220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Beck Mack & Oliver LLC lifted its position in Credit Acceptance by 1.0% during the first quarter. Beck Mack & Oliver LLC now owns 394,972 shares of the credit services provider's stock worth $203,944,000 after acquiring an additional 3,734 shares during the last quarter. Alfreton Capital LLP increased its stake in shares of Credit Acceptance by 11.8% during the first quarter. Alfreton Capital LLP now owns 190,000 shares of the credit services provider's stock worth $98,106,000 after purchasing an additional 20,000 shares during the period. Khrom Capital Management LLC acquired a new stake in Credit Acceptance during the 1st quarter worth approximately $30,639,000. Northern Trust Corp boosted its stake in Credit Acceptance by 1.1% in the 1st quarter. Northern Trust Corp now owns 38,184 shares of the credit services provider's stock valued at $19,716,000 after purchasing an additional 412 shares during the period. Finally, Philadelphia Financial Management of San Francisco LLC bought a new stake in Credit Acceptance in the 1st quarter valued at $18,481,000. Institutional investors and hedge funds own 81.71% of the company's stock.

Credit Acceptance Stock Performance

CACC opened at $494.41 on Tuesday. The company has a debt-to-equity ratio of 4.16, a quick ratio of 22.03 and a current ratio of 22.03. Credit Acceptance Corporation has a 52-week low of $414.15 and a 52-week high of $560.00. The firm has a market cap of $5.56 billion, a P/E ratio of 14.25 and a beta of 1.19. The business's fifty day moving average is $494.83 and its 200-day moving average is $494.43.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The credit services provider reported $8.56 earnings per share for the quarter, missing the consensus estimate of $9.84 by ($1.28). Credit Acceptance had a return on equity of 27.06% and a net margin of 18.69%.The firm had revenue of $583.80 million for the quarter, compared to the consensus estimate of $583.30 million. During the same period in the prior year, the company earned $10.29 EPS. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts expect that Credit Acceptance Corporation will post 53.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Credit Acceptance in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Credit Acceptance currently has a consensus rating of "Reduce" and a consensus price target of $440.00.

Insider Activity at Credit Acceptance

In other news, CEO Kenneth Booth sold 4,000 shares of the business's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $506.59, for a total transaction of $2,026,360.00. Following the completion of the transaction, the chief executive officer owned 68,116 shares of the company's stock, valued at approximately $34,506,884.44. The trade was a 5.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel A. Ulatowski sold 2,139 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $509.05, for a total value of $1,088,857.95. Following the sale, the insider owned 28,290 shares of the company's stock, valued at approximately $14,401,024.50. This represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,697 shares of company stock valued at $6,981,255 over the last three months. 6.60% of the stock is owned by insiders.

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.

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