Credit Acceptance Corporation (CACC) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. grew its position in Credit Acceptance Corporation (NASDAQ:CACC) by 91.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,333 shares of the credit services provider’s stock after buying an additional 23,539 shares during the quarter. Victory Capital Management Inc. owned 0.25% of Credit Acceptance Corporation worth $13,822,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Rathbone Brothers plc acquired a new stake in shares of Credit Acceptance Corporation during the third quarter valued at $210,000. First Trust Advisors LP boosted its stake in shares of Credit Acceptance Corporation by 5,945.1% during the third quarter. First Trust Advisors LP now owns 53,378 shares of the credit services provider’s stock valued at $14,955,000 after acquiring an additional 52,495 shares during the last quarter. Shell Asset Management Co. acquired a new stake in shares of Credit Acceptance Corporation during the third quarter valued at $3,456,000. Public Employees Retirement System of Ohio boosted its stake in shares of Credit Acceptance Corporation by 30.0% during the second quarter. Public Employees Retirement System of Ohio now owns 5,303 shares of the credit services provider’s stock valued at $1,364,000 after acquiring an additional 1,225 shares during the last quarter. Finally, Koch Industries Inc. acquired a new stake in shares of Credit Acceptance Corporation during the second quarter valued at $240,000. Institutional investors and hedge funds own 72.16% of the company’s stock.
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A number of analysts have issued reports on the company. Jefferies Group LLC reissued a “hold” rating and issued a $260.00 price target (up from $240.00) on shares of Credit Acceptance Corporation in a research note on Tuesday, October 10th. Zacks Investment Research lowered Credit Acceptance Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. BMO Capital Markets reissued a “market perform” rating and issued a $252.00 price target (up from $238.00) on shares of Credit Acceptance Corporation in a research note on Tuesday, October 31st. Raymond James Financial, Inc. raised Credit Acceptance Corporation from an “underperform” rating to a “market perform” rating in a research note on Tuesday, August 1st. Finally, Credit Suisse Group reissued an “underperform” rating and issued a $200.00 price target (up from $190.00) on shares of Credit Acceptance Corporation in a research note on Tuesday, August 1st. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $229.78.
Shares of Credit Acceptance Corporation (NASDAQ:CACC) opened at $283.60 on Tuesday. The company has a market capitalization of $5,471.55, a PE ratio of 14.09, a P/E/G ratio of 1.16 and a beta of 0.51. The company has a current ratio of 17.63, a quick ratio of 17.63 and a debt-to-equity ratio of 2.12. Credit Acceptance Corporation has a twelve month low of $182.50 and a twelve month high of $299.92.
Credit Acceptance Corporation (NASDAQ:CACC) last announced its earnings results on Monday, October 30th. The credit services provider reported $5.43 EPS for the quarter, beating the consensus estimate of $5.15 by $0.28. The business had revenue of $283.90 million for the quarter, compared to the consensus estimate of $281.03 million. Credit Acceptance Corporation had a return on equity of 32.08% and a net margin of 35.29%. The company’s revenue was up 15.1% on a year-over-year basis. During the same period last year, the business posted $4.53 EPS. research analysts predict that Credit Acceptance Corporation will post 20.84 earnings per share for the current year.
About Credit Acceptance Corporation
Credit Acceptance Corporation offers financing programs that enable automobile dealers to sell vehicles to consumers. The Company’s financing programs are offered through a network of automobile dealers. The Company has two Dealers financing programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, the Company advances money to dealers (Dealer Loan) in exchange for the right to service the underlying consumer loans.
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