Two Sigma Investments LP Has $11.80 Million Stake in Credit Acceptance Co. (NASDAQ:CACC)

Two Sigma Investments LP grew its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 133.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,144 shares of the credit services provider's stock after acquiring an additional 14,355 shares during the quarter. Two Sigma Investments LP owned about 0.21% of Credit Acceptance worth $11,804,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Credit Acceptance by 85.8% in the third quarter. Barclays PLC now owns 5,241 shares of the credit services provider's stock valued at $2,324,000 after buying an additional 2,420 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Credit Acceptance in the fourth quarter valued at $142,000. KBC Group NV lifted its holdings in shares of Credit Acceptance by 3,197.5% in the fourth quarter. KBC Group NV now owns 6,661 shares of the credit services provider's stock valued at $3,127,000 after buying an additional 6,459 shares during the period. Citadel Investment Advisory Inc. lifted its holdings in shares of Credit Acceptance by 113.6% in the fourth quarter. Citadel Investment Advisory Inc. now owns 2,802 shares of the credit services provider's stock valued at $1,315,000 after buying an additional 1,490 shares during the period. Finally, Entropy Technologies LP acquired a new stake in shares of Credit Acceptance in the fourth quarter valued at $235,000. Institutional investors and hedge funds own 81.71% of the company's stock.

Credit Acceptance Trading Down 1.4%

Shares of NASDAQ CACC traded down $6.85 during mid-day trading on Thursday, hitting $486.17. 17,073 shares of the company traded hands, compared to its average volume of 68,550. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $614.96. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 24.51 and a beta of 1.23. 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 business has a 50 day moving average of $490.15 and a two-hundred day moving average of $486.20.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The credit services provider reported $9.35 EPS for the quarter, missing the consensus estimate of $10.31 by ($0.96). Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. The company had revenue of $571.10 million for the quarter, compared to analysts' expectations of $570.25 million. During the same period in the prior year, the company earned $9.28 earnings per share. The company's revenue for the quarter was up 12.4% on a year-over-year basis. On average, sell-side analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $502.00, for a total value of $150,600.00. Following the transaction, the insider now directly owns 19,385 shares of the company's stock, valued at $9,731,270. This represents a 1.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the insider now directly owns 3,112 shares in the company, valued at approximately $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 insiders.

Analyst Ratings Changes

CACC has been the subject of several research analyst reports. Stephens upped their price objective on Credit Acceptance from $452.00 to $500.00 and gave the company 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.

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.