Credit Acceptance Corporation $CACC Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its holdings in shares of Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 13.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,764 shares of the credit services provider's stock after purchasing an additional 3,767 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.29% of Credit Acceptance worth $14,086,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. M&T Bank Corp purchased a new position in shares of Credit Acceptance during the 4th quarter worth $208,294,000. Boston Partners purchased a new position in shares of Credit Acceptance during the 3rd quarter worth $206,327,000. Smead Capital Management Inc. raised its holdings in shares of Credit Acceptance by 17.0% during the 2nd quarter. Smead Capital Management Inc. now owns 216,811 shares of the credit services provider's stock worth $110,450,000 after acquiring an additional 31,438 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Credit Acceptance by 764.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 203,879 shares of the credit services provider's stock worth $91,652,000 after acquiring an additional 180,304 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Credit Acceptance by 4.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 203,861 shares of the credit services provider's stock worth $95,171,000 after acquiring an additional 8,573 shares during the period. Institutional investors and hedge funds own 81.71% of the company's stock.

Credit Acceptance Price Performance

Shares of NASDAQ:CACC opened at $544.71 on Monday. The company has a debt-to-equity ratio of 4.09, a current ratio of 13.62 and a quick ratio of 13.62. The firm has a market capitalization of $5.70 billion, a PE ratio of 13.54 and a beta of 1.38. The firm's 50-day moving average is $509.15 and its two-hundred day moving average is $482.31. Credit Acceptance Corporation has a 1 year low of $401.90 and a 1 year high of $579.79.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $10.71 EPS for the quarter, missing analysts' consensus estimates of $10.73 by ($0.02). Credit Acceptance had a return on equity of 29.95% and a net margin of 19.49%.The company had revenue of $406.00 million for the quarter, compared to analyst estimates of $580.77 million. During the same period in the prior year, the firm posted $9.35 earnings per share. The business's quarterly revenue was up 1.6% compared to the same quarter last year. Analysts predict that Credit Acceptance Corporation will post 47.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. TD Cowen boosted their price objective on shares of Credit Acceptance from $450.00 to $500.00 and gave the company a "hold" rating in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Credit Acceptance from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 8th. Stephens boosted their price objective on shares of Credit Acceptance from $450.00 to $540.00 and gave the company an "equal weight" rating in a report on Friday, April 17th. Finally, Zacks Research lowered shares of Credit Acceptance from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 13th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $520.00.

Insider Buying and Selling at Credit Acceptance

In other news, major shareholder Jill Foss Watson sold 9,450 shares of the company's stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $538.52, for a total transaction of $5,089,014.00. Following the completion of the sale, the insider owned 92,107 shares in the company, valued at $49,601,461.64. This represents a 9.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jay D. Martin sold 3,000 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $525.63, for a total value of $1,576,890.00. Following the completion of the transaction, the chief financial officer owned 25,963 shares of the company's stock, valued at $13,646,931.69. The trade was a 10.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 26,527 shares of company stock valued at $14,203,265. 6.10% of the stock is currently owned by company insiders.

About Credit Acceptance

Credit Acceptance Corporation, founded in 1972 and headquartered in Southfield, Michigan, is a specialty finance company focused on the indirect automotive lending market. The company partners with independent and franchised auto dealers to facilitate purchase financing for consumers who may not qualify for traditional prime auto loans. By purchasing retail installment contracts originated by these dealers, Credit Acceptance provides capital and credit insurance to support vehicle sales, enabling dealers to broaden their customer base and reduce credit risk.

Through its proprietary underwriting platform and risk management strategies, Credit Acceptance evaluates borrower applications, structures credit plans, and retains servicing rights on the acquired contracts.

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