FORA Capital LLC Invests $327,000 in Credit Acceptance Corporation $CACC

Key Points

• FORA Capital LLC invested approximately $327,000 in Credit Acceptance Corporation (NASDAQ:CACC) by purchasing 634 shares during the first quarter, according to a recent SEC filing.
• Several institutional investors, including Alfreton Capital and Millennium Management, significantly increased their holdings in Credit Acceptance during the last quarter, with institutional ownership now at 81.71%.
• Credit Acceptance reported earnings of $8.56 per share for the last quarter, missing the consensus estimate, although revenue increased by 8.5% year-over-year.

FORA Capital LLC bought a new stake in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 634 shares of the credit services provider's stock, valued at approximately $327,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CACC. Alfreton Capital LLP grew its holdings in shares of Credit Acceptance by 11.8% during the 1st quarter. Alfreton Capital LLP now owns 190,000 shares of the credit services provider's stock worth $98,106,000 after purchasing an additional 20,000 shares in the last quarter. London Co. of Virginia acquired a new stake in shares of Credit Acceptance during the 4th quarter worth approximately $48,148,000. Crow s Nest Holdings LP acquired a new stake in shares of Credit Acceptance during the 4th quarter worth approximately $35,210,000. JARISLOWSKY FRASER Ltd grew its holdings in shares of Credit Acceptance by 12.5% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 73,135 shares of the credit services provider's stock worth $33,142,000 after purchasing an additional 8,153 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Credit Acceptance by 708.8% during the 4th quarter. Millennium Management LLC now owns 43,426 shares of the credit services provider's stock worth $20,387,000 after purchasing an additional 38,057 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company's stock.

Credit Acceptance Stock Performance

Shares of NASDAQ:CACC traded up $4.72 during trading on Friday, hitting $514.73. 74,370 shares of the stock were exchanged, compared to its average volume of 112,819. Credit Acceptance Corporation has a 1-year low of $409.22 and a 1-year high of $560.00. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 14.84 and a beta of 1.25. The company's fifty day simple moving average is $500.87 and its 200-day simple moving average is $494.47. The company has a debt-to-equity ratio of 4.16, a quick ratio of 22.03 and a current ratio of 22.03.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The credit services provider reported $8.56 earnings per share for the quarter, missing the consensus estimate of $9.84 by ($1.28). The firm had revenue of $583.80 million for the quarter, compared to analyst estimates of $583.30 million. Credit Acceptance had a return on equity of 27.06% and a net margin of 18.69%.Credit Acceptance's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $10.29 EPS. Sell-side analysts expect that Credit Acceptance Corporation will post 53.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel A. Ulatowski sold 6,356 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $522.16, for a total transaction of $3,318,848.96. Following the completion of the transaction, the insider owned 28,290 shares in the company, valued at $14,771,906.40. This trade represents a 18.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew K. Rostami sold 375 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $505.29, for a total value of $189,483.75. Following the transaction, the insider owned 25,478 shares of the company's stock, valued at $12,873,778.62. This trade represents a 1.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,428 shares of company stock worth $19,262,627 over the last 90 days. Corporate insiders own 6.60% of the company's stock.

Credit Acceptance 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.