Credit Acceptance Corp. (NASDAQ:CACC)’s share price rose 3.9% during trading on Wednesday . The stock traded as high as $179.60 and last traded at $179.60, with a volume of 72,067 shares trading hands. The stock had previously closed at $172.90.

CACC has been the subject of several recent research reports. JMP Securities lowered Credit Acceptance Corp. from a “market perform” rating to an “underperform” rating and set a $160.00 target price for the company. in a report on Wednesday, March 16th. Zacks Investment Research downgraded Credit Acceptance Corp. from a “hold” rating to a “sell” rating in a research report on Monday, March 28th. BMO Capital Markets reiterated a “hold” rating on shares of Credit Acceptance Corp. in a research report on Tuesday, May 3rd. Macquarie downgraded 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 upgraded 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 five have issued a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $181.90.

The firm has a 50 day moving average price of $179.12 and a 200-day moving average price of $188.14. The stock has a market capitalization of $3.81 billion and a PE ratio of 12.873.

Credit Acceptance Corp. (NASDAQ:CACC) last posted its quarterly earnings results on Monday, May 2nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.81 by $0.21. Analysts predict 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 the stock in a transaction dated Tuesday, April 26th. The shares were sold at an average price of $201.29, for a total value of $3,019,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

A number of hedge funds and institutional investors have bought and sold shares of CACC. Morgan Stanley raised 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 during the period. Rhumbline Advisers raised its position in 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 period. Oxford Asset Management raised 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 during the period. PNC Financial Services Group Inc. raised its position in 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 valued at $54,787,000 after buying an additional 32,843 shares during the period. Finally, Wells Fargo & Company MN raised 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 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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