Smead Capital Management Inc. Reduces Stake in Credit Acceptance Co. (NASDAQ:CACC)

Smead Capital Management Inc. reduced its stake in Credit Acceptance Co. (NASDAQ:CACC) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 182,486 shares of the credit services provider’s stock after selling 653 shares during the quarter. Credit Acceptance makes up approximately 1.7% of Smead Capital Management Inc.’s investment portfolio, making the stock its 22nd largest position. Smead Capital Management Inc.’s holdings in Credit Acceptance were worth $97,216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in Credit Acceptance in the 4th quarter valued at $894,000. Cerity Partners LLC purchased a new position in shares of Credit Acceptance during the 4th quarter worth $472,516,000. Lodestone Wealth Management LLC grew its holdings in shares of Credit Acceptance by 8.3% during the 4th quarter. Lodestone Wealth Management LLC now owns 1,187 shares of the credit services provider’s stock worth $632,000 after purchasing an additional 91 shares during the period. Arizona State Retirement System grew its holdings in shares of Credit Acceptance by 7.9% during the 4th quarter. Arizona State Retirement System now owns 1,972 shares of the credit services provider’s stock worth $1,051,000 after purchasing an additional 145 shares during the period. Finally, JLB & Associates Inc. grew its holdings in shares of Credit Acceptance by 3.1% during the 4th quarter. JLB & Associates Inc. now owns 6,361 shares of the credit services provider’s stock worth $3,389,000 after purchasing an additional 192 shares during the period. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Credit Acceptance news, insider Douglas W. Busk sold 2,500 shares of Credit Acceptance stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $572.58, for a total transaction of $1,431,450.00. Following the transaction, the insider now owns 3,112 shares of the company’s stock, valued at $1,781,868.96. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Credit Acceptance news, insider Douglas W. Busk sold 500 shares of Credit Acceptance stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $579.98, for a total value of $289,990.00. Following the transaction, the insider now directly owns 3,112 shares in the company, valued at approximately $1,804,897.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas W. Busk sold 2,500 shares of Credit Acceptance stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $572.58, for a total value of $1,431,450.00. Following the completion of the transaction, the insider now owns 3,112 shares in the company, valued at $1,781,868.96. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $381.75.

Credit Acceptance Stock Up 0.8 %

CACC stock traded up $4.03 during mid-day trading on Thursday, reaching $536.58. The company had a trading volume of 15,357 shares, compared to its average volume of 67,915. The company has a debt-to-equity ratio of 2.84, a quick ratio of 15.71 and a current ratio of 15.71. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 24.18 and a beta of 1.45. The firm has a fifty day simple moving average of $551.70 and a 200 day simple moving average of $503.66. Credit Acceptance Co. has a fifty-two week low of $379.77 and a fifty-two week high of $616.66.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Wednesday, January 31st. The credit services provider reported $10.06 earnings per share for the quarter, topping the consensus estimate of $9.17 by $0.89. Credit Acceptance had a return on equity of 30.94% and a net margin of 15.04%. The business had revenue of $491.60 million for the quarter, compared to analyst estimates of $478.80 million. Analysts forecast that Credit Acceptance Co. will post 40.95 earnings per share for the current fiscal year.

Credit Acceptance Company Profile

Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.