Strs Ohio Takes $894,000 Position in Credit Acceptance Co. (NASDAQ:CACC)

Strs Ohio purchased a new position in Credit Acceptance Co. (NASDAQ:CACC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,679 shares of the credit services provider's stock, valued at approximately $894,000.

Other hedge funds have also recently modified their holdings of the company. Whittier Trust Co. bought a new position in shares of Credit Acceptance during the 4th quarter worth approximately $74,000. Harbor Capital Advisors Inc. increased its stake in Credit Acceptance by 15.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 338 shares of the credit services provider's stock valued at $180,000 after purchasing an additional 46 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new position in Credit Acceptance during the 4th quarter valued at approximately $261,000. PFG Investments LLC acquired a new position in Credit Acceptance during the 3rd quarter valued at approximately $276,000. Finally, Versor Investments LP acquired a new position in Credit Acceptance during the 3rd quarter valued at approximately $280,000. Hedge funds and other institutional investors own 81.71% of the company's stock.

Credit Acceptance Stock Performance

Shares of NASDAQ:CACC traded down $6.70 during midday trading on Thursday, reaching $515.52. The company's stock had a trading volume of 46,896 shares, compared to its average volume of 67,184. The firm has a market capitalization of $6.34 billion, a PE ratio of 23.16 and a beta of 1.45. Credit Acceptance Co. has a twelve month low of $379.77 and a twelve month high of $616.66. The stock has a fifty day moving average of $548.79 and a 200 day moving average of $506.78. The company has a quick ratio of 15.71, a current ratio of 15.71 and a debt-to-equity ratio of 2.84.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $10.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.17 by $0.89. Credit Acceptance had a net margin of 15.04% and a return on equity of 30.94%. The firm had revenue of $491.60 million for the quarter, compared to the consensus estimate of $478.80 million. On average, equities analysts expect that Credit Acceptance Co. will post 40.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $381.75.

Insider Buying and Selling

In related news, insider Douglas W. Busk sold 2,500 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $572.58, for a total transaction of $1,431,450.00. Following the sale, the insider now directly owns 3,112 shares of the company's stock, valued at $1,781,868.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Credit Acceptance news, insider Douglas W. Busk sold 2,500 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $572.58, for a total transaction of $1,431,450.00. Following the transaction, the insider now directly owns 3,112 shares of the company's stock, valued at $1,781,868.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Douglas W. Busk sold 500 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $579.98, for a total transaction of $289,990.00. Following the transaction, the insider now directly owns 3,112 shares in the company, valued at $1,804,897.76. The disclosure for this sale can be found here. 4.20% of the stock is currently 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.