Credit Acceptance Corporation $CACC Stock Holdings Boosted by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management increased its Credit Acceptance stake by 888.2% in the third quarter, adding 6,040 shares to hold 6,720 shares valued at about $3.6 million. Institutional investors and hedge funds own 81.71% of the company’s stock.
• Credit Acceptance reported quarterly EPS of $13.01, beating estimates of $12.86, while revenue rose 2.1% year over year to $420.3 million.
• Analyst sentiment is cautious: the consensus rating is “Reduce,” with an average price target of $505, below the stock’s cited $535.97 opening price.

Fulcrum Asset Management LLP grew its stake in shares of Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 888.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,720 shares of the credit services provider's stock after buying an additional 6,040 shares during the period. Fulcrum Asset Management LLP owned approximately 0.07% of Credit Acceptance worth $3,609,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CACC. BlackRock Inc. bought a new stake in shares of Credit Acceptance in the 2nd quarter valued at about $408,849,000. Wellington Management Group LLP boosted its stake in Credit Acceptance by 0.5% during the 2nd quarter. Wellington Management Group LLP now owns 260,084 shares of the credit services provider's stock worth $165,606,000 after acquiring an additional 1,186 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Credit Acceptance by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 230,715 shares of the credit services provider's stock worth $97,701,000 after acquiring an additional 6,843 shares during the last quarter. Goodnow Investment Group LLC bought a new position in Credit Acceptance during the 2nd quarter worth approximately $67,578,000. Finally, London Co. of Virginia grew its holdings in Credit Acceptance by 0.5% during the first quarter. London Co. of Virginia now owns 79,720 shares of the credit services provider's stock valued at $33,761,000 after purchasing an additional 383 shares during the period. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Credit Acceptance Stock Up 1.2%

NASDAQ:CACC opened at $535.97 on Tuesday. Credit Acceptance Corporation has a 1 year low of $405.00 and a 1 year high of $668.86. The company has a current ratio of 13.49, a quick ratio of 13.49 and a debt-to-equity ratio of 4.68. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 10.57 and a beta of 1.45. The stock has a 50-day moving average price of $553.40 and a two-hundred day moving average price of $538.85.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The credit services provider reported $13.01 EPS for the quarter, topping analysts' consensus estimates of $12.86 by $0.15. Credit Acceptance had a return on equity of 33.84% and a net margin of 14.39%. The company had revenue of $420.30 million for the quarter, compared to analyst estimates of $596.40 million. During the same quarter last year, the firm posted $10.28 earnings per share. Credit Acceptance's revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that Credit Acceptance Corporation will post 47.61 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. TD Cowen decreased their price objective on shares of Credit Acceptance from $590.00 to $470.00 and set a "hold" rating for the company in a report on Friday, October 30th. Weiss Ratings lowered shares of Credit Acceptance from a "buy (b-)" rating to a "hold (c)" rating in a report on Monday, November 2nd. Finally, Zacks Research cut shares of Credit Acceptance from a "hold" rating to a "strong sell" rating in a research report on Tuesday, November 3rd. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $505.00.

Credit Acceptance Company Profile

Credit Acceptance Corporation is an automotive finance company that helps automobile dealers arrange financing for consumers, including buyers who may have difficulty obtaining credit through traditional lenders. The company works with participating dealers to provide financing options at the point of sale.

Its programs generally involve purchasing or financing retail installment contracts originated by dealers and then servicing those contracts. Credit Acceptance also provides dealers with tools and support related to vehicle financing and loan management.

Founded in 1972 and headquartered in Southfield, Michigan, the company serves participating automobile dealers across the United States.

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