Price T Rowe Associates Inc. MD Boosts Stake in Credit Acceptance Co. (NASDAQ:CACC)

Price T Rowe Associates Inc. MD raised its position in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 14.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,049 shares of the credit services provider's stock after purchasing an additional 517 shares during the quarter. Price T Rowe Associates Inc. MD's holdings in Credit Acceptance were worth $1,901,000 at the end of the most recent quarter.

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

Insider Transactions at Credit Acceptance

In other Credit Acceptance news, insider Nicholas J. Elliott sold 300 shares of the firm's stock in a transaction that occurred 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 sale, the insider now 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 document filed with the Securities & Exchange Commission, 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 transaction, the insider now directly owns 3,112 shares of the company's stock, valued at $1,605,698.64. This trade represents a 49.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.30% of the company's stock.

Credit Acceptance Stock Down 2.3 %

Shares of NASDAQ:CACC opened at $485.63 on Thursday. The firm has a market cap of $5.63 billion, a PE ratio of 24.45 and a beta of 1.23. The company has a fifty day simple moving average of $487.11 and a 200 day simple moving average of $482.31. 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 Co. has a 12-month low of $409.22 and a 12-month high of $614.96.

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 (EPS) for the quarter, missing the consensus estimate of $10.31 by ($0.96). Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. The firm had revenue of $571.10 million for the quarter, compared to analyst estimates of $570.25 million. During the same period in the prior year, the company posted $9.28 earnings per share. The business's revenue was up 12.4% on a year-over-year basis. On average, equities research analysts anticipate that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CACC has been the topic of several analyst reports. Stephens raised 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. StockNews.com raised shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.