Northern Trust Corp Acquires 2,773 Shares of Credit Acceptance Co. (NASDAQ:CACC)

Northern Trust Corp boosted its holdings in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 7.9% during the 4th quarter, according to its most recent 13F filing with the Securities and 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.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Twin Lions Management LLC acquired a new stake in shares of Credit Acceptance during the fourth quarter worth $21,093,000. Wealthfront Advisers LLC acquired a new position in Credit Acceptance in the 4th quarter valued at about $18,146,000. Envestnet Asset Management Inc. lifted its holdings in shares of Credit Acceptance by 805.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 27,450 shares of the credit services provider's stock worth $12,887,000 after acquiring an additional 24,417 shares during the last quarter. Kize Capital LP lifted its holdings in shares of Credit Acceptance by 23.7% in the 4th quarter. Kize Capital LP now owns 84,233 shares of the credit services provider's stock worth $39,544,000 after acquiring an additional 16,156 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Credit Acceptance by 277.1% during the 4th quarter. Barclays PLC now owns 19,763 shares of the credit services provider's stock worth $9,277,000 after buying an additional 14,522 shares in the last quarter. 81.71% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Nicholas J. Elliott sold 300 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total value of $150,600.00. Following the completion of the sale, the insider now directly owns 19,385 shares in the company, valued at approximately $9,731,270. This trade represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction dated 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 of the company's stock, 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. 5.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. StockNews.com raised shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Stephens raised their price objective on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st.

Credit Acceptance Stock Down 0.4%

NASDAQ CACC traded down $2.12 during trading hours on Tuesday, reaching $500.51. 418 shares of the company traded hands, compared to its average volume of 85,375. The company has a 50 day moving average of $490.23 and a two-hundred day moving average of $484.74. Credit Acceptance Co. has a 12 month low of $409.22 and a 12 month high of $614.96. The stock has a market capitalization of $5.81 billion, a PE ratio of 25.20 and a beta of 1.23. 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 posted its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $570.25 million. During the same period in the previous year, the company earned $9.28 EPS. The business's revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities analysts expect that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

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.