Gotham Asset Management LLC lessened its stake in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,717 shares of the credit services provider's stock after selling 554 shares during the period. Gotham Asset Management LLC's holdings in Credit Acceptance were worth $1,745,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in CACC. Crow s Nest Holdings LP bought a new position in Credit Acceptance in the 4th quarter valued at approximately $35,210,000. Twin Lions Management LLC purchased a new position in shares of Credit Acceptance in the fourth quarter worth $21,093,000. Wealthfront Advisers LLC bought a new position in shares of Credit Acceptance during the fourth quarter valued at $18,146,000. Envestnet Asset Management Inc. lifted its holdings in shares of Credit Acceptance by 805.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 27,450 shares of the credit services provider's stock valued at $12,887,000 after purchasing an additional 24,417 shares in the last quarter. Finally, Kize Capital LP boosted its position in shares of Credit Acceptance by 23.7% during the fourth quarter. Kize Capital LP now owns 84,233 shares of the credit services provider's stock valued at $39,544,000 after buying an additional 16,156 shares during the last quarter. Hedge funds and other institutional investors own 81.71% of the company's stock.
Credit Acceptance Stock Performance
Shares of NASDAQ CACC traded down $4.23 during midday trading on Thursday, hitting $478.92. 20,276 shares of the stock traded hands, compared to its average volume of 85,464. 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 Co. has a one year low of $409.22 and a one year high of $614.96. The firm has a market capitalization of $5.56 billion, a P/E ratio of 24.10 and a beta of 1.23. The firm has a 50-day moving average of $491.08 and a two-hundred day moving average of $484.81.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share for the quarter, missing analysts' consensus estimates of $10.31 by ($0.96). The firm had revenue of $571.10 million during 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 firm's revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $9.28 EPS. On average, equities analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.
Analysts Set New Price Targets
CACC has been the topic of several research analyst reports. Stephens upped their target price on shares of Credit Acceptance from $452.00 to $500.00 and gave the company 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 report on Friday, January 31st.
Check Out Our Latest Research Report on CACC
Insider Transactions at Credit Acceptance
In related news, insider Nicholas J. Elliott sold 300 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were 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 of the company's stock, valued at approximately $9,731,270. This represents a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the transaction, the insider now directly owns 3,112 shares in the company, valued at $1,605,698.64. This represents a 49.08% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.30% of the company's stock.
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.
Featured Stories
Before you consider Credit Acceptance, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Credit Acceptance wasn't on the list.
While Credit Acceptance currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
