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

BNP Paribas Financial Markets grew its position in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 623.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,694 shares of the credit services provider's stock after buying 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 SEC filing.

Several other hedge funds have also made changes to their positions in CACC. Vanguard Group Inc. lifted its holdings in shares of Credit Acceptance by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 486,828 shares of the credit services provider's stock worth $228,546,000 after acquiring an additional 5,134 shares during the last quarter. Beck Mack & Oliver LLC lifted its holdings in shares of Credit Acceptance by 1.6% in the 4th quarter. Beck Mack & Oliver LLC now owns 391,238 shares of the credit services provider's stock worth $183,671,000 after acquiring an additional 6,214 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Credit Acceptance by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 183,203 shares of the credit services provider's stock worth $86,004,000 after acquiring an additional 1,318 shares during the last quarter. MIG Capital LLC lifted its holdings in shares of Credit Acceptance by 8.6% in the 4th quarter. MIG Capital LLC now owns 126,467 shares of the credit services provider's stock worth $59,371,000 after acquiring an additional 9,976 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Credit Acceptance by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 95,854 shares of the credit services provider's stock worth $45,000,000 after acquiring an additional 1,803 shares during the last quarter. Hedge funds and other institutional investors own 81.71% of the company's stock.

Insiders Place Their Bets

In other news, insider Nicholas J. Elliott sold 300 shares of the firm's 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. This trade represents a 1.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas W. Busk sold 3,000 shares of the firm's stock in a transaction 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 completion of the sale, the insider now owns 3,112 shares in the company, valued at $1,605,698.64. The trade was a 49.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CACC shares. Wall Street Zen upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a report on Friday, January 31st. Stephens upped their price objective on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st.

Credit Acceptance Stock Down 1.0%

Credit Acceptance stock traded down $4.65 during mid-day trading on Friday, reaching $476.81. 99,040 shares of the company's stock were exchanged, compared to its average volume of 68,163. The company has a market cap of $5.53 billion, a P/E ratio of 24.01 and a beta of 1.23. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63. The company has a fifty day moving average of $490.79 and a 200-day moving average of $485.51.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released 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 business had revenue of $571.10 million for the quarter, compared to analyst estimates of $570.25 million. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. Credit Acceptance's quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $9.28 earnings per share. Sell-side analysts expect that Credit Acceptance Co. will post 53.24 EPS for the current year.

About Credit Acceptance

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.