Cantillon Capital Management LLC reduced its stake in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 250,910 shares of the credit services provider's stock after selling 6,204 shares during the period. Cantillon Capital Management LLC owned 2.00% of Credit Acceptance worth $133,667,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of CACC. Bank of New York Mellon Corp boosted its holdings in shares of Credit Acceptance by 3.5% in the third quarter. Bank of New York Mellon Corp now owns 30,759 shares of the credit services provider's stock valued at $14,153,000 after buying an additional 1,028 shares during the period. Manhattan West Asset Management LLC increased its holdings in Credit Acceptance by 18.8% during the 3rd quarter. Manhattan West Asset Management LLC now owns 4,721 shares of the credit services provider's stock worth $2,172,000 after purchasing an additional 747 shares in the last quarter. JLB & Associates Inc. raised its stake in shares of Credit Acceptance by 1.1% in the 3rd quarter. JLB & Associates Inc. now owns 6,169 shares of the credit services provider's stock valued at $2,838,000 after purchasing an additional 66 shares during the period. M&T Bank Corp lifted its holdings in shares of Credit Acceptance by 2.7% in the third quarter. M&T Bank Corp now owns 1,038 shares of the credit services provider's stock valued at $478,000 after purchasing an additional 27 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Credit Acceptance by 0.7% during the third quarter. Victory Capital Management Inc. now owns 4,163 shares of the credit services provider's stock worth $1,915,000 after buying an additional 29 shares during the period. 81.71% of the stock is currently owned by institutional investors and hedge funds.
Credit Acceptance Stock Performance
Credit Acceptance stock traded down $8.88 during trading hours on Friday, hitting $514.94. The company had a trading volume of 28,371 shares, compared to its average volume of 65,685. Credit Acceptance Co. has a one year low of $379.77 and a one year high of $616.66. The company has a debt-to-equity ratio of 3.29, a current ratio of 13.79 and a quick ratio of 13.79. The firm has a market cap of $6.24 billion, a PE ratio of 26.88 and a beta of 1.44. The firm has a 50-day moving average of $540.53 and a 200 day moving average of $512.86.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $9.28 EPS for the quarter, topping analysts' consensus estimates of $6.81 by $2.47. Credit Acceptance had a net margin of 12.83% and a return on equity of 30.70%. The business had revenue of $508.00 million for the quarter, compared to analyst estimates of $497.71 million. During the same period last year, the firm earned $9.71 earnings per share. Credit Acceptance's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts expect that Credit Acceptance Co. will post 40.95 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on CACC. StockNews.com raised Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Wednesday, February 28th. TD Cowen reduced their price objective on shares of Credit Acceptance from $465.00 to $420.00 and set a "sell" rating for the company in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Credit Acceptance currently has an average rating of "Hold" and a consensus price target of $402.33.
Get Our Latest Report on Credit Acceptance
Insider Activity at Credit Acceptance
In related news, insider Douglas W. Busk sold 2,500 shares of the firm's stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $572.58, for a total value of $1,431,450.00. Following the transaction, the insider now owns 3,112 shares in the company, valued at $1,781,868.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.20% of the stock is currently owned by corporate insiders.
About Credit Acceptance
(
Free Report)
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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