MML Investors Services LLC Takes Position in Credit Acceptance Co. (NASDAQ:CACC)

MML Investors Services LLC purchased a new stake in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,597 shares of the credit services provider's stock, valued at approximately $2,158,000.

Several other hedge funds have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC bought a new stake in Credit Acceptance in the fourth quarter valued at approximately $28,000. First Horizon Advisors Inc. acquired a new position in Credit Acceptance during the fourth quarter worth $34,000. TD Private Client Wealth LLC bought a new stake in Credit Acceptance during the fourth quarter worth $37,000. Farther Finance Advisors LLC acquired a new stake in Credit Acceptance in the 4th quarter valued at about $38,000. Finally, US Bancorp DE lifted its position in shares of Credit Acceptance by 50.4% in 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 last quarter. Institutional investors own 81.71% of the company's stock.

Credit Acceptance Stock Performance

Shares of Credit Acceptance stock opened at $487.65 on Tuesday. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 24.55 and a beta of 1.27. The company's fifty day moving average is $487.43 and its 200 day moving average is $481.67. 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 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 Thursday, January 30th. The credit services provider reported $10.17 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CACC. Stephens increased their price target 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. StockNews.com raised Credit Acceptance from a "hold" rating to a "buy" rating in a report on Friday, January 31st.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, 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 transaction of $1,547,910.00. Following the sale, the insider now owns 3,112 shares in the company, valued at $1,605,698.64. This represents a 49.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas J. Elliott sold 300 shares of the firm'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 completion of the transaction, the insider now owns 19,385 shares of the company's stock, valued at $9,731,270. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.

Credit Acceptance 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.

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