Credit Acceptance Co. (NASDAQ:CACC) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC lessened its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 47.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,748 shares of the credit services provider's stock after selling 6,008 shares during the period. Squarepoint Ops LLC owned 0.06% of Credit Acceptance worth $3,168,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. First Horizon Advisors Inc. acquired a new position in Credit Acceptance during the fourth quarter worth approximately $34,000. TD Private Client Wealth LLC purchased a new stake in shares of Credit Acceptance in the fourth quarter valued at approximately $37,000. Farther Finance Advisors LLC purchased a new stake in shares of Credit Acceptance in the fourth quarter valued at approximately $38,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Credit Acceptance by 13,400.0% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 135 shares of the credit services provider's stock valued at $64,000 after buying an additional 134 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Credit Acceptance by 50.4% in the fourth quarter. US Bancorp DE now owns 179 shares of the credit services provider's stock valued at $84,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company's stock.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, insider Douglas W. Busk sold 3,000 shares of the company's stock in a transaction that occurred 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 sale, the insider now owns 3,112 shares in the company, valued at $1,605,698.64. This represents a 49.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Nicholas J. Elliott sold 300 shares of the company'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 value of $150,600.00. Following the sale, 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 disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Stephens boosted their target price on 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 upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Friday, January 31st.

Credit Acceptance Trading Down 1.6%

CACC stock traded down $7.93 during trading on Friday, reaching $475.11. 83,651 shares of the stock traded hands, compared to its average volume of 69,332. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $614.96. The business's 50 day moving average price is $488.78 and its 200-day moving average price is $487.00. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. The firm has a market capitalization of $5.51 billion, a PE ratio of 23.92 and a beta of 1.23.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $9.35 EPS for the quarter, missing analysts' consensus estimates of $10.31 by ($0.96). The business had revenue of $571.10 million during 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 company's revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $9.28 EPS. As a group, sell-side analysts forecast that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

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.