MML Investors Services LLC Acquires Shares of 4,597 Credit Acceptance Co. (NASDAQ:CACC)

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gamco Investors INC. ET AL grew its holdings in shares of Credit Acceptance by 5.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,185 shares of the credit services provider's stock valued at $1,026,000 after purchasing an additional 110 shares during the period. Bridgewater Associates LP increased its holdings in shares of Credit Acceptance by 268.2% during the 4th quarter. Bridgewater Associates LP now owns 8,354 shares of the credit services provider's stock worth $3,922,000 after buying an additional 6,085 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in shares of Credit Acceptance during the 4th quarter valued at approximately $680,000. Corient Private Wealth LLC lifted its holdings in Credit Acceptance by 7.2% in the fourth quarter. Corient Private Wealth LLC now owns 1,030 shares of the credit services provider's stock valued at $484,000 after acquiring an additional 69 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in Credit Acceptance by 67.6% in the fourth quarter. HighTower Advisors LLC now owns 997 shares of the credit services provider's stock worth $468,000 after acquiring an additional 402 shares during the period. 81.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance 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 transaction of $150,600.00. Following the sale, the insider now directly owns 19,385 shares in the company, valued at $9,731,270. This represents a 1.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas W. Busk sold 3,000 shares of the business's 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 completion of the transaction, the insider now owns 3,112 shares of the company's stock, 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. 5.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on CACC shares. StockNews.com upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Stephens boosted their price objective 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.

Credit Acceptance Trading Up 4.4 %

Shares of NASDAQ:CACC traded up $20.79 during mid-day trading on Friday, reaching $488.58. 174,126 shares of the company were exchanged, compared to its average volume of 63,464. 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's 50-day simple moving average is $486.50 and its 200 day simple moving average is $482.03. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 24.60 and a beta of 1.27.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $9.35 EPS for the quarter, missing the consensus estimate of $10.31 by ($0.96). The firm had revenue of $571.10 million for 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%. The company's quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.28 earnings per share. Equities research analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current year.

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.