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

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

Several other large investors have also made changes to their positions in CACC. Barclays PLC boosted its position in shares of Credit Acceptance by 85.8% during the third quarter. Barclays PLC now owns 5,241 shares of the credit services provider's stock worth $2,324,000 after acquiring an additional 2,420 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of Credit Acceptance during the 3rd quarter valued at about $3,020,000. JPMorgan Chase & Co. grew 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 valued at $1,810,000 after purchasing an additional 118 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Credit Acceptance in the fourth quarter worth about $28,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of Credit Acceptance in the fourth quarter worth about $680,000. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

Credit Acceptance Trading Up 4.4 %

CACC traded up $20.79 on Friday, hitting $488.58. The company had a trading volume of 174,126 shares, compared to its average volume of 63,464. The business's fifty day simple moving average is $486.50 and its 200 day simple moving average is $481.98. 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 12-month low of $409.22 and a 12-month high of $614.96. The company has a market cap of $5.74 billion, a PE ratio of 24.60 and a beta of 1.27.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The credit services provider reported $9.35 EPS for the quarter, missing analysts' consensus estimates of $10.31 by ($0.96). Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. The company had revenue of $571.10 million during the quarter, compared to analysts' expectations of $570.25 million. During the same quarter last year, the firm posted $9.28 EPS. Credit Acceptance's revenue for the quarter was up 12.4% compared to the same quarter last year. Equities research analysts expect that Credit Acceptance Co. will post 53.24 EPS for the current year.

Insider Buying and Selling at Credit Acceptance

In other news, insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total transaction of $150,600.00. Following the transaction, the insider now owns 19,385 shares of the company's stock, valued at approximately $9,731,270. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Douglas W. Busk sold 3,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total value of $1,547,910.00. Following the completion of the sale, the insider now owns 3,112 shares in the company, valued at approximately $1,605,698.64. The trade was a 49.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CACC. Stephens lifted their price objective on Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st.

Credit Acceptance Company 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.