UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 22,986 shares of the credit services provider's stock after acquiring an additional 1,770 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.19% of Credit Acceptance worth $10,791,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. US Bancorp DE increased its holdings in shares of Credit Acceptance by 50.4% during the 4th 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. Xponance Inc. increased its holdings in shares of Credit Acceptance by 10.4% during the 4th quarter. Xponance Inc. now owns 730 shares of the credit services provider's stock valued at $343,000 after acquiring an additional 69 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of Credit Acceptance by 7.2% during the 4th quarter. Corient Private Wealth LLC now owns 1,030 shares of the credit services provider's stock valued at $484,000 after acquiring an additional 69 shares during the last quarter. First Horizon Advisors Inc. acquired a new position in shares of Credit Acceptance during the 4th quarter valued at about $34,000. Finally, TD Private Client Wealth LLC acquired a new position in shares of Credit Acceptance during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 81.71% of the company's stock.
Insider Activity at Credit Acceptance
In related news, insider Douglas W. Busk sold 3,000 shares of the business's stock in a transaction on 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 of the company's stock, valued at $1,605,698.64. The trade was a 49.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas J. Elliott sold 300 shares of the business'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 transaction, 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 disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.
Credit Acceptance Stock Performance
CACC traded down $3.91 during midday trading on Monday, reaching $473.39. The company's stock had a trading volume of 172,701 shares, compared to its average volume of 69,745. The stock has a market cap of $5.49 billion, a P/E ratio of 23.84 and a beta of 1.23. The company has a fifty day simple moving average of $488.78 and a 200 day simple moving average of $487.31. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $571.10 million during the quarter, compared to the consensus estimate of $570.25 million. During the same quarter in the prior year, the business posted $9.28 EPS. Credit Acceptance's revenue was up 12.4% compared to the same quarter last year. Research analysts expect that Credit Acceptance Co. will post 53.24 earnings per share for the current year.
About Credit Acceptance
(
Free Report)
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.
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