Legal & General Group Plc Sells 992 Shares of Credit Acceptance Co. (NASDAQ:CACC)

Legal & General Group Plc cut its holdings in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 12.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,868 shares of the credit services provider's stock after selling 992 shares during the period. Legal & General Group Plc owned 0.06% of Credit Acceptance worth $3,224,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CACC. Vanguard Group Inc. lifted its holdings in shares of Credit Acceptance by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 486,828 shares of the credit services provider's stock worth $228,546,000 after acquiring an additional 5,134 shares during the last quarter. MIG Capital LLC raised its position in Credit Acceptance by 8.6% in the 4th quarter. MIG Capital LLC now owns 126,467 shares of the credit services provider's stock worth $59,371,000 after purchasing an additional 9,976 shares during the period. Charles Schwab Investment Management Inc. raised its position in Credit Acceptance by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 95,854 shares of the credit services provider's stock worth $45,000,000 after purchasing an additional 1,803 shares during the period. Wealthfront Advisers LLC purchased a new position in Credit Acceptance in the 4th quarter worth $18,146,000. Finally, Envestnet Asset Management Inc. raised its position in Credit Acceptance by 805.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 27,450 shares of the credit services provider's stock worth $12,887,000 after purchasing an additional 24,417 shares during the period. 81.71% of the stock is owned by institutional investors.

Credit Acceptance Stock Down 1.4 %

Shares of Credit Acceptance stock traded down $6.91 on Tuesday, reaching $480.74. The company's stock had a trading volume of 5,731 shares, compared to its average volume of 62,641. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 24.15 and a beta of 1.27. The firm's fifty day simple moving average is $487.43 and its two-hundred day simple moving average is $481.67. 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.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its earnings results on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, topping analysts' consensus estimates of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. Equities analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have 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 lifted their target price on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a report on Friday, January 31st.

Insider Buying and Selling

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 stock was sold at an average price of $502.00, for a total transaction of $150,600.00. Following the completion of the sale, the insider now owns 19,385 shares of the company's stock, valued at approximately $9,731,270. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Douglas W. Busk sold 3,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total value of $1,547,910.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.

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.