1,829 Shares in Credit Acceptance Co. (NASDAQ:CACC) Purchased by Stifel Financial Corp

Stifel Financial Corp purchased a new stake in Credit Acceptance Co. (NASDAQ:CACC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,829 shares of the credit services provider's stock, valued at approximately $859,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. MML Investors Services LLC bought a new stake in Credit Acceptance in the fourth quarter worth about $2,158,000. Beck Mack & Oliver LLC increased its holdings in shares of Credit Acceptance by 1.6% during the 4th quarter. Beck Mack & Oliver LLC now owns 391,238 shares of the credit services provider's stock worth $183,671,000 after purchasing an additional 6,214 shares during the period. Dimensional Fund Advisors LP boosted its stake in Credit Acceptance by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 183,203 shares of the credit services provider's stock valued at $86,004,000 after buying an additional 1,318 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Credit Acceptance by 53.1% in the 4th quarter. Marshall Wace LLP now owns 4,143 shares of the credit services provider's stock valued at $1,945,000 after buying an additional 1,437 shares during the period. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Credit Acceptance by 5.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,185 shares of the credit services provider's stock valued at $1,026,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company's stock.

Insider Activity at Credit Acceptance

In related news, insider Douglas W. Busk sold 3,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the transaction, the insider now owns 3,112 shares in the company, valued at $1,605,698.64. This represents a 49.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas J. Elliott sold 300 shares of the firm'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 transaction, the insider now directly owns 19,385 shares of the company's stock, valued at $9,731,270. The trade was 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 owned by insiders.

Credit Acceptance Price Performance

Shares of NASDAQ CACC traded down $1.08 during trading on Tuesday, hitting $498.00. 124,216 shares of the company were exchanged, compared to its average volume of 66,649. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $614.96. The firm's fifty day moving average price is $488.64 and its 200 day moving average price is $482.90. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 25.08 and a beta of 1.23.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $10.31 by ($0.96). The company had revenue of $571.10 million for 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 company's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.28 EPS. On average, sell-side analysts expect that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CACC shares. 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 target price on 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 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.