Jupiter Topco LLC Takes Position in Credit Acceptance Corporation $CACC

Jupiter Topco LLC bought a new stake in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,847 shares of the credit services provider's stock, valued at approximately $1,812,000.

Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in Credit Acceptance in the 2nd quarter valued at $19,347,000. BlackRock Inc. purchased a new position in Credit Acceptance during the 2nd quarter worth $408,849,000. SG Americas Securities LLC lifted its stake in shares of Credit Acceptance by 429.9% in the 1st quarter. SG Americas Securities LLC now owns 12,835 shares of the credit services provider's stock worth $5,435,000 after acquiring an additional 10,413 shares during the period. Bank of America Corp DE lifted its stake in shares of Credit Acceptance by 47.9% in the 1st quarter. Bank of America Corp DE now owns 44,586 shares of the credit services provider's stock worth $18,880,000 after acquiring an additional 14,439 shares during the period. Finally, Geo Capital Gestora de Recursos Ltd purchased a new stake in shares of Credit Acceptance in the fourth quarter valued at about $1,842,000. Hedge funds and other institutional investors own 81.71% of the company's stock.

Insider Transactions at Credit Acceptance

In other Credit Acceptance news, major shareholder Jill Watson sold 11,000 shares of the company's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $653.24, for a total transaction of $7,185,640.00. Following the transaction, the insider directly owned 49,346 shares in the company, valued at approximately $32,234,781.04. This represents a 18.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Erin J. Kerber sold 5,720 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $629.80, for a total transaction of $3,602,456.00. Following the completion of the transaction, the insider directly owned 25,711 shares of the company's stock, valued at approximately $16,192,787.80. This trade represents a 18.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 44,289 shares of company stock valued at $27,525,241. 6.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CACC shares. Weiss Ratings upgraded shares of Credit Acceptance from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Zacks Research downgraded shares of Credit Acceptance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 13th. Finally, TD Cowen boosted their target price on Credit Acceptance from $575.00 to $600.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Credit Acceptance currently has an average rating of "Hold" and an average target price of $570.00.

Credit Acceptance Trading Down 1.0%

NASDAQ:CACC opened at $601.58 on Friday. Credit Acceptance Corporation has a 1 year low of $401.90 and a 1 year high of $668.86. The company has a debt-to-equity ratio of 3.84, a quick ratio of 14.89 and a current ratio of 14.89. The stock has a fifty day moving average price of $602.64 and a two-hundred day moving average price of $542.35. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 13.23 and a beta of 1.35.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued its earnings results on Tuesday, August 4th. The credit services provider reported $12.12 EPS for the quarter, missing the consensus estimate of $12.20 by ($0.08). Credit Acceptance had a return on equity of 31.67% and a net margin of 21.54%.The company had revenue of $415.00 million for the quarter, compared to analysts' expectations of $588.07 million. During the same quarter in the previous year, the firm posted $10.05 earnings per share. Credit Acceptance's revenue for the quarter was up .6% on a year-over-year basis. As a group, sell-side analysts anticipate that Credit Acceptance Corporation will post 47.8 earnings per share for the current fiscal year.

Credit Acceptance 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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