Voloridge Investment Management LLC Acquires 3,052 Shares of Credit Acceptance Co. (NASDAQ:CACC)

Voloridge Investment Management LLC grew its stake in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,032 shares of the credit services provider's stock after purchasing an additional 3,052 shares during the quarter. Voloridge Investment Management LLC owned about 0.18% of Credit Acceptance worth $10,343,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CACC. London Co. of Virginia bought a new stake in shares of Credit Acceptance in the 4th quarter valued at $48,148,000. Crow s Nest Holdings LP bought a new position in Credit Acceptance during the 4th quarter worth about $35,210,000. Twin Lions Management LLC bought a new position in Credit Acceptance during the 4th quarter worth about $21,093,000. Wealthfront Advisers LLC bought a new position in Credit Acceptance during the 4th quarter worth about $18,146,000. Finally, Millennium Management LLC increased its holdings in Credit Acceptance by 708.8% during the 4th quarter. Millennium Management LLC now owns 43,426 shares of the credit services provider's stock worth $20,387,000 after purchasing an additional 38,057 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company's stock.

Credit Acceptance Price Performance

NASDAQ:CACC traded down $6.50 during trading hours on Friday, hitting $476.54. The company's stock had a trading volume of 14,306 shares, compared to its average volume of 68,776. The stock has a fifty day simple moving average of $489.57 and a 200-day simple moving average of $486.44. The company has a market capitalization of $5.53 billion, a P/E ratio of 24.03 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. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share for the quarter, missing the consensus estimate of $10.31 by ($0.96). The business 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 business's quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the business earned $9.28 earnings per share. On average, analysts anticipate that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Nicholas J. Elliott sold 300 shares of the business'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 owns 19,385 shares of the company's stock, valued at $9,731,270. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Douglas W. Busk sold 3,000 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was 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 directly owns 3,112 shares in the company, valued at approximately $1,605,698.64. This represents a 49.08% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.30% of the company's stock.

Analyst Upgrades and Downgrades

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

Credit Acceptance 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.