Transform Wealth LLC lifted its stake in Credit Acceptance Corp. (NASDAQ:CACC) by 15.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 880 shares of the credit services provider’s stock after acquiring an additional 115 shares during the quarter. Transform Wealth LLC’s holdings in Credit Acceptance were worth $389,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. US Bancorp DE grew its position in Credit Acceptance by 6,060.0% during the second quarter. US Bancorp DE now owns 1,232 shares of the credit services provider’s stock valued at $596,000 after purchasing an additional 1,212 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Credit Acceptance in the 2nd quarter worth approximately $327,000. Bank of America Corp DE boosted its stake in shares of Credit Acceptance by 179.0% during the 2nd quarter. Bank of America Corp DE now owns 32,789 shares of the credit services provider’s stock valued at $15,865,000 after buying an additional 21,038 shares during the period. Morgan Stanley boosted its stake in shares of Credit Acceptance by 26.4% during the 2nd quarter. Morgan Stanley now owns 20,771 shares of the credit services provider’s stock valued at $10,050,000 after buying an additional 4,337 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Credit Acceptance by 144.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,958 shares of the credit services provider’s stock valued at $947,000 after acquiring an additional 1,157 shares in the last quarter. 59.62% of the stock is owned by institutional investors and hedge funds.

Shares of CACC opened at $457.65 on Friday. The company’s fifty day moving average is $441.62 and its 200-day moving average is $454.13. Credit Acceptance Corp. has a 12 month low of $385.36 and a 12 month high of $509.99. The firm has a market cap of $8.60 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. The company has a quick ratio of 29.49, a current ratio of 29.49 and a debt-to-equity ratio of 1.75.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings data on Friday, November 1st. The credit services provider reported $8.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.86 by $0.03. The business had revenue of $378.70 million during the quarter, compared to analyst estimates of $380.69 million. Credit Acceptance had a net margin of 44.69% and a return on equity of 29.54%. Credit Acceptance’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.56 EPS. As a group, research analysts predict that Credit Acceptance Corp. will post 34.69 earnings per share for the current fiscal year.

In related news, CFO Kenneth Booth purchased 1,250 shares of the stock in a transaction on Tuesday, November 5th. The shares were bought at an average price of $410.61 per share, for a total transaction of $513,262.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Prescott General Partners Llc sold 15,000 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $458.24, for a total value of $6,873,600.00. The disclosure for this sale can be found here. Insiders have sold 115,437 shares of company stock worth $51,160,419 over the last three months. Company insiders own 5.00% of the company’s stock.

A number of research firms have recently weighed in on CACC. Stephens raised shares of Credit Acceptance from an “underweight” rating to an “equal weight” rating in a research note on Friday, January 3rd. Credit Suisse Group lifted their price objective on Credit Acceptance from $380.00 to $390.00 and gave the company an “underperform” rating in a research report on Thursday, November 14th. ValuEngine upgraded Credit Acceptance from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. BMO Capital Markets dropped their target price on Credit Acceptance to $472.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 5th. Finally, BidaskClub raised Credit Acceptance from a “sell” rating to a “hold” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $444.17.

Credit Acceptance Company Profile

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.

Further Reading: Growth Stocks

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

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