Vanguard Group Inc. Sells 13,419 Shares of Credit Acceptance Corporation $CACC

Vanguard Group Inc. reduced its stake in Credit Acceptance Corporation (NASDAQ:CACC) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 447,556 shares of the credit services provider’s stock after selling 13,419 shares during the quarter. Vanguard Group Inc. owned 4.06% of Credit Acceptance worth $208,977,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its position in shares of Credit Acceptance by 21.3% during the third quarter. Allianz Asset Management GmbH now owns 29,095 shares of the credit services provider’s stock worth $13,585,000 after buying an additional 5,107 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Credit Acceptance by 16.9% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 23,575 shares of the credit services provider’s stock valued at $11,008,000 after acquiring an additional 3,400 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Credit Acceptance by 6.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 32,407 shares of the credit services provider’s stock worth $16,509,000 after acquiring an additional 2,056 shares during the last quarter. SG Americas Securities LLC boosted its position in Credit Acceptance by 430.3% during the 3rd quarter. SG Americas Securities LLC now owns 2,418 shares of the credit services provider’s stock worth $1,129,000 after acquiring an additional 1,962 shares during the last quarter. Finally, Illinois Municipal Retirement Fund bought a new position in shares of Credit Acceptance during the 3rd quarter worth approximately $697,000. Institutional investors own 81.71% of the company’s stock.

Credit Acceptance Trading Down 2.8%

CACC opened at $473.18 on Monday. The company has a debt-to-equity ratio of 4.10, a current ratio of 16.91 and a quick ratio of 16.91. Credit Acceptance Corporation has a fifty-two week low of $401.90 and a fifty-two week high of $549.75. The company’s 50 day moving average price is $473.03 and its two-hundred day moving average price is $475.32. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 12.96 and a beta of 1.29.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results on Thursday, January 29th. The credit services provider reported $11.35 EPS for the quarter, topping analysts’ consensus estimates of $10.30 by $1.05. The company had revenue of $408.20 million for the quarter, compared to analyst estimates of $582.63 million. Credit Acceptance had a net margin of 18.29% and a return on equity of 28.86%. Credit Acceptance’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.17 earnings per share. As a group, research analysts predict that Credit Acceptance Corporation will post 53.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Credit Acceptance in a research report on Wednesday, January 21st. TD Cowen lifted their price target on shares of Credit Acceptance from $460.00 to $470.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Finally, Zacks Research upgraded shares of Credit Acceptance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $470.00.

Insider Activity

In other Credit Acceptance news, insider Wendy A. Rummler sold 5,236 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $493.44, for a total transaction of $2,583,651.84. Following the completion of the sale, the insider owned 20,772 shares of the company’s stock, valued at approximately $10,249,735.68. This represents a 20.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth Booth sold 2,000 shares of Credit Acceptance stock in a transaction on Monday, February 9th. The stock was sold at an average price of $508.00, for a total transaction of $1,016,000.00. Following the transaction, the director directly owned 22,832 shares of the company’s stock, valued at $11,598,656. This represents a 8.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 11,576 shares of company stock valued at $5,824,119. Company insiders own 6.60% of the company’s stock.

Credit Acceptance Company Profile

Credit Acceptance Corporation, founded in 1972 and headquartered in Southfield, Michigan, is a specialty finance company focused on the indirect automotive lending market. The company partners with independent and franchised auto dealers to facilitate purchase financing for consumers who may not qualify for traditional prime auto loans. By purchasing retail installment contracts originated by these dealers, Credit Acceptance provides capital and credit insurance to support vehicle sales, enabling dealers to broaden their customer base and reduce credit risk.

Through its proprietary underwriting platform and risk management strategies, Credit Acceptance evaluates borrower applications, structures credit plans, and retains servicing rights on the acquired contracts.