Credit Acceptance Co. (NASDAQ:CACC) Shares Acquired by Northern Trust Corp

Northern Trust Corp boosted its position in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,772 shares of the credit services provider's stock after acquiring an additional 2,773 shares during the quarter. Northern Trust Corp owned 0.31% of Credit Acceptance worth $17,732,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC acquired a new stake in Credit Acceptance during the fourth quarter worth approximately $28,000. First Horizon Advisors Inc. acquired a new stake in Credit Acceptance during the fourth quarter worth approximately $34,000. TD Private Client Wealth LLC acquired a new stake in Credit Acceptance during the fourth quarter worth approximately $37,000. Farther Finance Advisors LLC acquired a new stake in Credit Acceptance during the fourth quarter worth approximately $38,000. Finally, US Bancorp DE raised its holdings in Credit Acceptance by 50.4% during the fourth quarter. US Bancorp DE now owns 179 shares of the credit services provider's stock worth $84,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company's stock.

Credit Acceptance Stock Performance

Shares of Credit Acceptance stock traded up $0.63 during trading on Friday, reaching $502.17. The company's stock had a trading volume of 61,464 shares, compared to its average volume of 67,376. The company has a 50-day moving average price of $489.67 and a two-hundred day moving average price of $483.73. The firm has a market cap of $5.83 billion, a PE ratio of 25.29 and a beta of 1.23. 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 current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63.

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). The business had revenue of $571.10 million during the quarter, compared to analyst estimates of $570.25 million. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. The business's revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.28 earnings per share. On average, analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, insider Douglas W. Busk sold 3,000 shares of the business's stock in a transaction on 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 transaction, the insider now directly owns 3,112 shares of the company's stock, valued at approximately $1,605,698.64. The trade was a 49.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas J. Elliott sold 300 shares of the business's stock in a transaction 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 completion of the transaction, the insider now directly owns 19,385 shares in the company, valued at $9,731,270. This represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate 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.