Squarepoint Ops LLC Reduces Stock Position in Credit Acceptance Co. (NASDAQ:CACC)

Squarepoint Ops LLC reduced its position in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 47.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,748 shares of the credit services provider's stock after selling 6,008 shares during the quarter. Squarepoint Ops LLC owned approximately 0.06% of Credit Acceptance worth $3,168,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position 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 buying an additional 5,134 shares during the last quarter. Beck Mack & Oliver LLC lifted its stake in Credit Acceptance by 1.6% in the fourth 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 period. Dimensional Fund Advisors LP boosted its holdings in Credit Acceptance by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 183,203 shares of the credit services provider's stock valued at $86,004,000 after acquiring an additional 1,318 shares in the last quarter. MIG Capital LLC boosted its holdings in Credit Acceptance by 8.6% in the fourth quarter. MIG Capital LLC now owns 126,467 shares of the credit services provider's stock valued at $59,371,000 after acquiring an additional 9,976 shares in the last quarter. Finally, London Co. of Virginia purchased a new position in Credit Acceptance during the 4th quarter valued at $48,148,000. Institutional investors own 81.71% of the company's stock.

Insider Activity

In other Credit Acceptance news, 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 value of $1,547,910.00. Following the sale, the insider now directly owns 3,112 shares of the company's stock, valued at approximately $1,605,698.64. This represents a 49.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nicholas J. Elliott sold 300 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was 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 approximately $9,731,270. The trade was a 1.52% 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 analysts have recently weighed in on the stock. Stephens upped their target price 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. Wall Street Zen raised Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st.

Credit Acceptance Price Performance

Shares of NASDAQ CACC traded down $0.23 during midday trading on Wednesday, reaching $493.02. 112,587 shares of the stock traded hands, compared to its average volume of 68,747. 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 one year low of $409.22 and a one year high of $614.96. The company's 50 day moving average is $490.15 and its 200 day moving average is $486.20. The stock has a market capitalization of $5.72 billion, a PE ratio of 24.82 and a beta of 1.23.

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 (EPS) for the quarter, missing the consensus estimate of $10.31 by ($0.96). The business had revenue of $571.10 million for the quarter, compared to analysts' expectations 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 in the previous year, the business earned $9.28 earnings per share. On average, equities research analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share 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.