Credit Acceptance Corp. (NASDAQ:CACC) shot up 3.9% on Wednesday . The company traded as high as $179.60 and last traded at $179.60, with a volume of 72,067 shares changing hands. The stock had previously closed at $172.90.

A number of research firms recently weighed in on CACC. Macquarie cut Credit Acceptance Corp. from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $190.00 to $150.00 in a research note on Wednesday, May 11th. BMO Capital Markets restated a “hold” rating on shares of Credit Acceptance Corp. in a research note on Tuesday, May 3rd. JMP Securities cut Credit Acceptance Corp. from a “market perform” rating to an “underperform” rating and set a $160.00 price target on the stock. in a research note on Wednesday, March 16th. Janney Montgomery Scott upgraded Credit Acceptance Corp. from a “sell” rating to a “neutral” rating and set a $173.00 price objective on the stock in a research report on Monday, June 20th. Finally, Zacks Investment Research cut Credit Acceptance Corp. from a “hold” rating to a “sell” rating in a research report on Monday, March 28th. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $188.35.

The company has a 50-day moving average price of $179.05 and a 200 day moving average price of $188.29. The company has a market cap of $3.66 billion and a P/E ratio of 12.34.

Credit Acceptance Corp. (NASDAQ:CACC) last announced its earnings results on Monday, May 2nd. The company reported $4.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.81 by $0.21. On average, equities analysts expect that Credit Acceptance Corp. will post $15.83 EPS for the current fiscal year.

In related news, major shareholder Jill Foss Watson sold 15,000 shares of Credit Acceptance Corp. stock in a transaction that occurred on Tuesday, April 26th. The stock was sold at an average price of $201.29, for a total transaction of $3,019,350.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Other hedge funds and institutional investors recently made changes to their positions in the company. Rhumbline Advisers boosted its position in shares of Credit Acceptance Corp. by 3.1% in the fourth quarter. Rhumbline Advisers now owns 10,778 shares of the company’s stock valued at $2,307,000 after buying an additional 326 shares during the last quarter. Oxford Asset Management boosted its position in Credit Acceptance Corp. by 2.0% in the fourth quarter. Oxford Asset Management now owns 17,731 shares of the company’s stock valued at $3,802,000 after buying an additional 343 shares in the last quarter. Morgan Stanley boosted its position in Credit Acceptance Corp. by 786.4% in the fourth quarter. Morgan Stanley now owns 20,654 shares of the company’s stock valued at $4,420,000 after buying an additional 18,324 shares in the last quarter. California Public Employees Retirement System boosted its position in Credit Acceptance Corp. by 1.3% in the fourth quarter. California Public Employees Retirement System now owns 23,297 shares of the company’s stock valued at $4,986,000 after buying an additional 300 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Credit Acceptance Corp. by 5.7% in the fourth quarter. Wells Fargo & Company MN now owns 50,670 shares of the company’s stock valued at $10,845,000 after buying an additional 2,749 shares in the last quarter.

Credit Acceptance Corporation (Credit Acceptance) is a provider of financing programs to automobile dealers that enable them to sell vehicles to consumers. The Company’s financing programs are offered through a nationwide network of automobile dealers; from repeat and referral sales generated by customers, and from sales to customers responding to advertisements for it products.

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