Dimensional Fund Advisors LP Raises Holdings in Credit Acceptance Corporation $CACC

Dimensional Fund Advisors LP raised its stake in shares of Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 230,715 shares of the credit services provider's stock after acquiring an additional 6,843 shares during the period. Dimensional Fund Advisors LP owned approximately 2.21% of Credit Acceptance worth $97,701,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CACC. Pictet Asset Management Holding SA grew its stake in shares of Credit Acceptance by 2.1% in the first quarter. Pictet Asset Management Holding SA now owns 990 shares of the credit services provider's stock worth $419,000 after acquiring an additional 20 shares during the period. Rockefeller Capital Management L.P. lifted its position in Credit Acceptance by 53.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 69 shares of the credit services provider's stock valued at $31,000 after purchasing an additional 24 shares during the period. Janney Montgomery Scott LLC lifted its position in Credit Acceptance by 4.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 571 shares of the credit services provider's stock valued at $253,000 after purchasing an additional 25 shares during the period. Cetera Investment Advisers boosted its holdings in Credit Acceptance by 6.3% in the fourth quarter. Cetera Investment Advisers now owns 508 shares of the credit services provider's stock worth $225,000 after purchasing an additional 30 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Credit Acceptance by 5.3% in the third quarter. Russell Investments Group Ltd. now owns 721 shares of the credit services provider's stock worth $337,000 after purchasing an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 81.71% of the company's stock.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, insider Nicholas J. Elliott sold 2,306 shares of the company's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $629.99, for a total value of $1,452,756.94. Following the completion of the sale, the insider owned 20,897 shares in the company, valued at $13,164,901.03. This represents a 9.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jill Foss Watson sold 11,000 shares of the firm's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $653.24, for a total value of $7,185,640.00. Following the completion of the transaction, the insider directly owned 49,346 shares in the company, valued at $32,234,781.04. This trade represents a 18.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 47,304 shares of company stock valued at $29,186,331 in the last ninety days. 6.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CACC shares. Weiss Ratings raised Credit Acceptance from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Zacks Research lowered Credit Acceptance from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 13th. Stephens upped their price objective on Credit Acceptance from $450.00 to $540.00 and gave the company an "equal weight" rating in a research report on Friday, April 17th. Finally, TD Cowen increased their target price on Credit Acceptance from $500.00 to $575.00 and gave the company a "hold" rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Credit Acceptance currently has a consensus rating of "Hold" and a consensus target price of $557.50.

Credit Acceptance Trading Down 0.3%

Shares of Credit Acceptance stock opened at $556.71 on Thursday. Credit Acceptance Corporation has a 1-year low of $401.90 and a 1-year high of $668.86. The company's fifty day simple moving average is $590.74 and its 200-day simple moving average is $521.88. 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 stock has a market capitalization of $5.82 billion, a PE ratio of 13.83 and a beta of 1.36.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $10.71 EPS for the quarter, missing the consensus estimate of $10.73 by ($0.02). The company had revenue of $406.00 million during the quarter, compared to analysts' expectations of $580.77 million. Credit Acceptance had a return on equity of 29.95% and a net margin of 19.49%.The company's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $9.35 earnings per share. As a group, equities analysts anticipate that Credit Acceptance Corporation will post 47.5 earnings per share for the current year.

Credit Acceptance Company Profile

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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