Credit Acceptance Co. (NASDAQ:CACC) Shares Bought by Greenline Partners LLC

Greenline Partners LLC lifted its position in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 16.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,157 shares of the credit services provider's stock after acquiring an additional 1,698 shares during the period. Greenline Partners LLC owned 0.10% of Credit Acceptance worth $5,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in CACC. Eagle Bay Advisors LLC acquired a new stake in shares of Credit Acceptance in the fourth quarter valued at about $28,000. US Bancorp DE grew its stake in 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 in the last quarter. Xponance Inc. lifted its stake in Credit Acceptance by 10.4% in the 4th quarter. Xponance Inc. now owns 730 shares of the credit services provider's stock worth $343,000 after purchasing an additional 69 shares in the last quarter. Corient Private Wealth LLC boosted 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 worth $484,000 after purchasing an additional 69 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its position in shares of Credit Acceptance by 2.7% in the fourth quarter. Wedge Capital Management L L P NC now owns 2,687 shares of the credit services provider's stock valued at $1,261,000 after purchasing an additional 70 shares in the last quarter. 81.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CACC has been the topic of a number of research analyst reports. Stephens lifted their target price on Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. StockNews.com raised Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st.

Insider Buying and Selling

In related news, insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $502.00, for a total transaction of $150,600.00. Following the transaction, the insider now owns 19,385 shares of the company's stock, valued at approximately $9,731,270. This represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Douglas W. Busk sold 3,000 shares of the 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 transaction, the insider now directly 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. Corporate insiders own 5.30% of the company's stock.

Credit Acceptance Trading Up 1.0%

Shares of CACC stock traded up $5.08 on Thursday, hitting $501.27. The stock had a trading volume of 75,396 shares, compared to its average volume of 67,178. The company's 50 day moving average price is $488.69 and its 200-day moving average price is $482.99. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $614.96. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. The firm has a market capitalization of $5.82 billion, a P/E ratio of 25.15 and a beta of 1.23.

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 (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $570.25 million. During the same period last year, the firm posted $9.28 earnings per share. Credit Acceptance's revenue for the quarter was up 12.4% on a year-over-year basis. Analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share 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.