Nebula Research & Development LLC Acquires Shares of 2,005 Credit Acceptance Co. (NASDAQ:CACC)

Nebula Research & Development LLC bought a new stake in Credit Acceptance Co. (NASDAQ:CACC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,005 shares of the credit services provider's stock, valued at approximately $941,000.

Several other large investors have also modified their holdings of CACC. Barclays PLC raised its holdings in shares of Credit Acceptance by 85.8% in the 3rd quarter. Barclays PLC now owns 5,241 shares of the credit services provider's stock valued at $2,324,000 after buying an additional 2,420 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in Credit Acceptance during the third quarter worth about $3,020,000. JPMorgan Chase & Co. lifted its position in shares of Credit Acceptance by 3.0% during the third quarter. JPMorgan Chase & Co. now owns 4,082 shares of the credit services provider's stock worth $1,810,000 after purchasing an additional 118 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Credit Acceptance in the fourth quarter valued at approximately $28,000. Finally, Park Avenue Securities LLC purchased a new position in shares of Credit Acceptance in the fourth quarter valued at approximately $680,000. Institutional investors and hedge funds own 81.71% of the company's stock.

Credit Acceptance Stock Down 4.0 %

NASDAQ CACC traded down $19.63 on Thursday, hitting $467.79. 195,923 shares of the stock were exchanged, compared to its average volume of 63,423. Credit Acceptance Co. has a fifty-two week low of $409.22 and a fifty-two week high of $614.96. The company has a 50-day moving average price of $486.32 and a 200-day moving average price of $481.82. The company has a market cap of $5.50 billion, a PE ratio of 23.55 and a beta of 1.27. 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 quarterly earnings results on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share for the quarter, missing analysts' consensus estimates of $10.31 by ($0.96). Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. The business had revenue of $571.10 million during the quarter, compared to analyst estimates of $570.25 million. During the same quarter in the prior year, the business earned $9.28 earnings per share. The firm's quarterly revenue was up 12.4% on a year-over-year basis. Sell-side analysts anticipate that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CACC has been the subject of several recent research reports. StockNews.com raised 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 Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a report on Friday, January 31st.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, insider Nicholas J. Elliott sold 300 shares of Credit Acceptance stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $502.00, for a total value of $150,600.00. Following the transaction, the insider now directly owns 19,385 shares in the company, 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 can be accessed through this hyperlink. 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. This trade represents a 49.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.30% of the company's stock.

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.