Capital Fund Management S.A. acquired a new stake in shares of Credit Acceptance Corp. (NASDAQ:CACC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,946 shares of the credit services provider’s stock, valued at approximately $852,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Hawaiian Bank acquired a new position in shares of Credit Acceptance during the third quarter valued at about $178,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Credit Acceptance by 57.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 616 shares of the credit services provider’s stock valued at $218,000 after acquiring an additional 226 shares in the last quarter. Grandfield & Dodd LLC acquired a new position in shares of Credit Acceptance during the third quarter valued at about $224,000. Virtu Financial LLC acquired a new position in shares of Credit Acceptance during the third quarter valued at about $224,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Credit Acceptance during the third quarter valued at about $245,000. Hedge funds and other institutional investors own 66.75% of the company’s stock.

Shares of NASDAQ CACC opened at $394.00 on Wednesday. The company has a market capitalization of $7.83 billion, a P/E ratio of 15.74, a PEG ratio of 0.86 and a beta of 0.56. Credit Acceptance Corp. has a 52 week low of $281.77 and a 52 week high of $467.26. The company has a debt-to-equity ratio of 1.97, a quick ratio of 36.75 and a current ratio of 36.75.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Monday, October 29th. The credit services provider reported $7.75 EPS for the quarter, beating the Zacks’ consensus estimate of $6.90 by $0.85. The firm had revenue of $332.00 million for the quarter, compared to analyst estimates of $327.45 million. Credit Acceptance had a return on equity of 28.83% and a net margin of 48.70%. Credit Acceptance’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.43 earnings per share. Sell-side analysts predict that Credit Acceptance Corp. will post 27.57 earnings per share for the current fiscal year.

In other Credit Acceptance news, insider Prescott General Partners Llc sold 36,900 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $453.38, for a total value of $16,729,722.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Scott J. Vassalluzzo sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $413.10, for a total value of $2,065,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,018 shares of company stock worth $32,742,973. 5.40% of the stock is owned by insiders.

Several equities analysts have recently issued reports on the stock. BidaskClub upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Saturday. Susquehanna Bancshares upped their price objective on shares of Credit Acceptance from $350.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. Zacks Investment Research upgraded Credit Acceptance from a “hold” rating to a “buy” rating and set a $473.00 target price on the stock in a research report on Monday. BMO Capital Markets upped their target price on Credit Acceptance from $305.00 to $312.00 and gave the company a “market perform” rating in a research report on Thursday, August 2nd. Finally, Compass Point upgraded Credit Acceptance from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 1st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $362.71.

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About Credit Acceptance

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

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Institutional Ownership by Quarter for Credit Acceptance (NASDAQ:CACC)

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