Two Sigma Advisers LP Purchases 7,000 Shares of Credit Acceptance Co. (NASDAQ:CACC)

Two Sigma Advisers LP grew its stake in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 89.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,800 shares of the credit services provider's stock after purchasing an additional 7,000 shares during the period. Two Sigma Advisers LP owned approximately 0.12% of Credit Acceptance worth $6,948,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CACC. Two Sigma Investments LP lifted its stake in Credit Acceptance by 133.1% in the 4th quarter. Two Sigma Investments LP now owns 25,144 shares of the credit services provider's stock valued at $11,804,000 after buying an additional 14,355 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Credit Acceptance by 13,400.0% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 135 shares of the credit services provider's stock worth $64,000 after buying an additional 134 shares in the last quarter. Quantinno Capital Management LP acquired a new position in Credit Acceptance in the fourth quarter worth $601,000. Man Group plc boosted its stake in Credit Acceptance by 50.3% in the fourth quarter. Man Group plc now owns 5,327 shares of the credit services provider's stock valued at $2,501,000 after acquiring an additional 1,783 shares during the period. Finally, Millennium Management LLC boosted its position in Credit Acceptance by 708.8% during the 4th quarter. Millennium Management LLC now owns 43,426 shares of the credit services provider's stock valued at $20,387,000 after purchasing an additional 38,057 shares during the period. Hedge funds and other institutional investors own 81.71% of the company's stock.

Insider Transactions at Credit Acceptance

In other Credit Acceptance news, insider Nicholas J. Elliott sold 300 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $502.00, for a total transaction of $150,600.00. Following the sale, the insider now directly owns 19,385 shares of the company's stock, valued at $9,731,270. The trade was a 1.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas W. Busk sold 3,000 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total value of $1,547,910.00. Following the sale, the insider now owns 3,112 shares in the company, valued at $1,605,698.64. The trade was a 49.08% decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CACC. Stephens upped 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 raised shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st.

Credit Acceptance Trading Down 1.8%

CACC stock traded down $8.79 during midday trading on Thursday, reaching $484.24. The company's stock had a trading volume of 20,172 shares, compared to its average volume of 68,561. Credit Acceptance Co. has a 52 week low of $409.22 and a 52 week high of $614.96. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63. The stock has a market cap of $5.62 billion, a PE ratio of 24.38 and a beta of 1.23. The business's 50-day simple moving average is $490.15 and its 200-day simple moving average is $486.20.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share for the quarter, missing the consensus estimate of $10.31 by ($0.96). The business had revenue of $571.10 million for the quarter, compared to the consensus estimate of $570.25 million. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. The company's revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $9.28 EPS. As a group, sell-side analysts expect that Credit Acceptance Co. will post 53.24 EPS for the current year.

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.