Shares of Credit Acceptance Corp. (NASDAQ:CACC) saw unusually-strong trading volume on Thursday . Approximately 222,928 shares changed hands during mid-day 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 analysts recently issued reports on CACC shares. Macquarie downgraded Credit Acceptance Corp. from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $190.00 to $150.00 in a report on Wednesday, May 11th. BMO Capital Markets restated a “hold” rating on shares of Credit Acceptance Corp. in a research report on Tuesday, May 3rd. Zacks Investment Research upgraded Credit Acceptance Corp. from a “hold” rating to a “buy” rating and set a $198.00 target price on the stock in a research report on Friday, May 20th. JMP Securities cut Credit Acceptance Corp. from a “market perform” rating to an “underperform” rating and set a $160.00 target price on the stock. in a research report on Wednesday, March 16th. Finally, Janney Montgomery Scott upgraded Credit Acceptance Corp. from a “sell” rating to a “neutral” rating and set a $173.00 target price on the stock in a research report on Monday, June 20th. Four analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $181.90.

The stock has a market cap of $3.77 billion and a P/E ratio of 12.72. The stock’s 50-day moving average is $179.44 and its 200 day moving average is $187.95.

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

In related news, major shareholder Jill Foss Watson sold 15,000 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which is available through this link.

A number of large investors recently added to or reduced their stakes in CACC. Rhumbline Advisers increased its stake in Credit Acceptance Corp. by 3.1% in the fourth quarter. Rhumbline Advisers now owns 10,778 shares of the company’s stock worth $2,307,000 after buying an additional 326 shares during the last quarter. Oxford Asset Management increased its stake in 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 last quarter. Morgan Stanley increased its stake in 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 last quarter. California Public Employees Retirement System increased its stake 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 worth $4,986,000 after buying an additional 300 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake 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 worth $10,845,000 after buying an additional 2,749 shares during 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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