Credit Acceptance Co. (NASDAQ:CACC) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its holdings in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 623.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,694 shares of the credit services provider's stock after purchasing an additional 1,460 shares during the period. BNP Paribas Financial Markets' holdings in Credit Acceptance were worth $795,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Comerica Bank boosted its holdings in shares of 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 period. Schonfeld Strategic Advisors LLC raised its position in Credit Acceptance by 140.4% during the 4th 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 in the last quarter. Northern Trust Corp lifted its holdings in shares of Credit Acceptance by 7.9% in the 4th quarter. Northern Trust Corp now owns 37,772 shares of the credit services provider's stock worth $17,732,000 after buying an additional 2,773 shares during the period. Aquatic Capital Management LLC grew its position in shares of Credit Acceptance by 181.1% during the 4th quarter. Aquatic Capital Management LLC now owns 2,249 shares of the credit services provider's stock worth $1,056,000 after buying an additional 1,449 shares in the last quarter. Finally, Nebula Research & Development LLC purchased a new position in shares of Credit Acceptance during the fourth quarter valued at $941,000. 81.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Nicholas J. Elliott sold 300 shares of the business'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 transaction of $150,600.00. Following the completion of the transaction, the insider now owns 19,385 shares in the company, valued at $9,731,270. The trade was a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas W. Busk sold 3,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 5.30% of the company's stock.

Credit Acceptance Stock Up 3.4%

Shares of NASDAQ:CACC traded up $16.44 on Tuesday, reaching $493.25. The company had a trading volume of 98,370 shares, compared to its average volume of 68,455. The firm has a market capitalization of $5.72 billion, a PE ratio of 24.84 and a beta of 1.23. 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 Co. has a 52-week low of $409.22 and a 52-week high of $614.96. The firm's 50 day simple moving average is $490.20 and its 200-day simple moving average is $486.15.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share 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 the consensus estimate of $570.25 million. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. Credit Acceptance's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $9.28 EPS. As a group, analysts expect that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on CACC shares. Wall Street Zen raised shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Friday, January 31st. Stephens upped their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a research 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.