Shares of Credit Acceptance Corp. (NASDAQ:CACC) saw strong trading volume on Thursday . 222,928 shares changed hands during trading, a decline of 23% from the previous session’s volume of 290,838 shares.The stock last traded at $175.89 and had previously closed at $178.89.

Several equities research analysts have recently commented on the stock. BMO Capital Markets reissued a “hold” rating on shares of Credit Acceptance Corp. in a research report on Tuesday, May 3rd. JMP Securities downgraded shares of Credit Acceptance Corp. from a “market perform” rating to an “underperform” rating and set a $160.00 price objective for the company. in a research report on Wednesday, March 16th. Zacks Investment Research downgraded shares of Credit Acceptance Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. Macquarie downgraded shares of Credit Acceptance Corp. from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $190.00 to $150.00 in a research report on Wednesday, May 11th. Finally, Janney Montgomery Scott raised shares of Credit Acceptance Corp. from a “sell” rating to a “neutral” rating and set a $173.00 price objective for the company in a research report on Monday, June 20th. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $188.35.

The firm’s 50-day moving average price is $179.12 and its 200-day moving average price is $188.14. The company has a market cap of $3.62 billion and a PE ratio of 12.23.

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

In related news, major shareholder Jill Foss Watson sold 15,000 shares of Credit Acceptance Corp. stock in a transaction dated Tuesday, April 26th. The shares were 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 Securities & Exchange Commission, which is available through the SEC website.

Other hedge funds and institutional investors have modified their holdings of the company. Wells Fargo & Company MN boosted its position in shares of Credit Acceptance Corp. by 5.7% in the fourth quarter. Wells Fargo & Company MN now owns 50,670 shares of the company’s stock worth $10,845,000 after buying an additional 2,749 shares during the period. Morgan Stanley boosted its position in shares of Credit Acceptance Corp. by 786.4% in the fourth quarter. Morgan Stanley now owns 20,654 shares of the company’s stock worth $4,420,000 after buying an additional 18,324 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Credit Acceptance Corp. by 14.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 255,990 shares of the company’s stock worth $54,787,000 after buying an additional 32,843 shares during the period. California Public Employees Retirement System boosted its position in shares of 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 worth $4,986,000 after buying an additional 300 shares during the period. Finally, Oxford Asset Management boosted its position in shares of Credit Acceptance Corp. by 2.0% in the fourth quarter. Oxford Asset Management now owns 17,731 shares of the company’s stock worth $3,802,000 after buying an additional 343 shares during the period.

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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