JARISLOWSKY FRASER Ltd Purchases 8,153 Shares of Credit Acceptance Co. (NASDAQ:CACC)

JARISLOWSKY FRASER Ltd raised its position in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,135 shares of the credit services provider's stock after acquiring an additional 8,153 shares during the quarter. JARISLOWSKY FRASER Ltd owned approximately 0.60% of Credit Acceptance worth $33,142,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Eagle Bay Advisors LLC purchased a new position in shares of Credit Acceptance in the fourth quarter valued at about $28,000. First Horizon Advisors Inc. purchased a new position in shares of Credit Acceptance during the fourth quarter valued at about $34,000. TD Private Client Wealth LLC purchased a new position in shares of Credit Acceptance during the fourth quarter valued at about $37,000. Farther Finance Advisors LLC purchased a new position in shares of Credit Acceptance during the fourth quarter valued at about $38,000. Finally, US Bancorp DE increased its position in shares of 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 buying an additional 60 shares during the period. Hedge funds and other institutional investors own 81.71% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Stephens boosted their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st.

Insiders Place Their Bets

In other Credit Acceptance news, insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $502.00, for a total value of $150,600.00. Following the sale, the insider now owns 19,385 shares in the company, valued at approximately $9,731,270. This represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction of $1,547,910.00. Following the completion of the sale, the insider now owns 3,112 shares in the company, valued at approximately $1,605,698.64. This trade 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 Stock Down 0.4%

NASDAQ:CACC traded down $1.81 during mid-day trading on Wednesday, hitting $496.19. 158,638 shares of the company's stock were exchanged, compared to its average volume of 67,129. The company has a market cap of $5.76 billion, a PE ratio of 24.98 and a beta of 1.23. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $614.96. The business has a fifty day moving average price of $488.69 and a 200 day moving average price of $482.99.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $571.10 million during the quarter, compared to analysts' expectations of $570.25 million. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. Credit Acceptance's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter last year, the company posted $9.28 EPS. Equities analysts predict that Credit Acceptance Co. will post 53.24 EPS for the current year.

Credit Acceptance Company Profile

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.