AMG National Trust Bank Has $1.20 Million Stake in Credit Acceptance Co. (NASDAQ:CACC)

AMG National Trust Bank reduced its holdings in Credit Acceptance Co. (NASDAQ:CACCFree Report) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,255 shares of the credit services provider’s stock after selling 22 shares during the quarter. AMG National Trust Bank’s holdings in Credit Acceptance were worth $1,201,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cerity Partners LLC acquired a new position in Credit Acceptance during the 4th quarter valued at $472,516,000. Wellington Management Group LLP raised its position in shares of Credit Acceptance by 7.4% during the third quarter. Wellington Management Group LLP now owns 644,666 shares of the credit services provider’s stock valued at $296,624,000 after buying an additional 44,454 shares during the last quarter. Barclays PLC lifted its stake in shares of Credit Acceptance by 385.9% in the third quarter. Barclays PLC now owns 8,610 shares of the credit services provider’s stock valued at $3,961,000 after buying an additional 6,838 shares during the period. Charles Schwab Investment Management Inc. grew its position in Credit Acceptance by 7.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 71,193 shares of the credit services provider’s stock worth $32,757,000 after buying an additional 5,140 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Credit Acceptance by 21.2% during the third quarter. Invesco Ltd. now owns 18,643 shares of the credit services provider’s stock valued at $8,578,000 after acquiring an additional 3,265 shares during the period. 81.71% of the stock is owned by institutional investors and hedge funds.

Credit Acceptance Price Performance

NASDAQ CACC traded down $1.41 during trading on Friday, reaching $497.00. 58,215 shares of the company traded hands, compared to its average volume of 53,828. Credit Acceptance Co. has a 1-year low of $379.77 and a 1-year high of $616.66. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 25.50 and a beta of 1.44. The stock’s 50 day moving average price is $535.72 and its two-hundred day moving average price is $518.03. The company has a debt-to-equity ratio of 3.29, a quick ratio of 13.79 and a current ratio of 13.79.

Credit Acceptance (NASDAQ:CACCGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $9.28 EPS for the quarter, beating the consensus estimate of $6.81 by $2.47. The business had revenue of $508.00 million for the quarter, compared to analyst estimates of $497.71 million. Credit Acceptance had a return on equity of 30.70% and a net margin of 12.83%. Credit Acceptance’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.71 EPS. As a group, analysts anticipate that Credit Acceptance Co. will post 40.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on CACC shares. TD Cowen reduced their price objective on Credit Acceptance from $465.00 to $420.00 and set a “sell” rating for the company in a research report on Thursday, May 2nd. raised Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $402.33.

View Our Latest Stock Report on Credit Acceptance

Insider Transactions at Credit Acceptance

In other Credit Acceptance news, insider Douglas W. Busk sold 2,500 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 3,112 shares in the company, valued at $1,781,868.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.20% of the stock is owned by insiders.

Credit Acceptance Profile

(Free Report)

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.

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

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