Quantinno Capital Management LP Makes New $601,000 Investment in Credit Acceptance Co. (NASDAQ:CACC)

Quantinno Capital Management LP purchased a new stake in Credit Acceptance Co. (NASDAQ:CACC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,280 shares of the credit services provider's stock, valued at approximately $601,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. bought a new stake in shares of Credit Acceptance in the 4th quarter valued at approximately $34,000. TD Private Client Wealth LLC bought a new stake in Credit Acceptance in the fourth quarter worth $37,000. Farther Finance Advisors LLC purchased a new position in Credit Acceptance during the fourth quarter worth $38,000. US Bancorp DE increased its position in Credit Acceptance by 50.4% during the fourth quarter. US Bancorp DE now owns 179 shares of the credit services provider's stock valued at $84,000 after acquiring an additional 60 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd increased its position in Credit Acceptance by 245.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 256 shares of the credit services provider's stock valued at $120,000 after acquiring an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 81.71% of the company's stock.

Insiders Place Their Bets

In other Credit Acceptance news, insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total value of $150,600.00. Following the completion of the sale, the insider now directly owns 19,385 shares in the company, valued at approximately $9,731,270. This represents a 1.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas W. Busk sold 3,000 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total value of $1,547,910.00. Following the transaction, the insider now owns 3,112 shares in the company, valued at approximately $1,605,698.64. This represents a 49.08% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.30% of the company's stock.

Credit Acceptance Trading Down 0.8%

Credit Acceptance stock traded down $3.71 during mid-day trading on Friday, hitting $479.34. The company's stock had a trading volume of 9,055 shares, compared to its average volume of 68,753. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $614.96. The stock has a market cap of $5.56 billion, a PE ratio of 24.09 and a beta of 1.23. The company has a 50 day moving average of $489.57 and a 200-day moving average of $486.44. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $9.35 EPS for the quarter, missing analysts' consensus estimates of $10.31 by ($0.96). Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. The company had revenue of $571.10 million during the quarter, compared to the consensus estimate of $570.25 million. During the same quarter in the previous year, the company posted $9.28 earnings per share. The company's revenue for the quarter was up 12.4% on a year-over-year basis. On average, research analysts anticipate that Credit Acceptance Co. will post 53.24 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on CACC. Stephens lifted their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Wall Street Zen upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st.

About Credit Acceptance

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.