WINTON GROUP Ltd Takes Position in Credit Acceptance Corporation $CACC

WINTON GROUP Ltd acquired a new stake in shares of Credit Acceptance Corporation (NASDAQ:CACC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,398 shares of the credit services provider’s stock, valued at approximately $1,527,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CACC. Versant Capital Management Inc lifted its stake in shares of Credit Acceptance by 587.5% during the 2nd quarter. Versant Capital Management Inc now owns 55 shares of the credit services provider’s stock worth $35,000 after purchasing an additional 47 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Credit Acceptance in the 2nd quarter valued at about $38,000. State of Wyoming acquired a new position in shares of Credit Acceptance during the 4th quarter valued at about $27,000. Kestra Advisory Services LLC purchased a new position in shares of Credit Acceptance during the 4th quarter worth about $27,000. Finally, Rockefeller Capital Management L.P. grew its holdings in Credit Acceptance by 53.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 69 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 24 shares during the period. 81.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Erin Kerber sold 5,720 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $629.80, for a total value of $3,602,456.00. Following the completion of the sale, the insider owned 25,711 shares in the company, valued at approximately $16,192,787.80. This trade represents a 18.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jill Watson sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $653.24, for a total value of $7,185,640.00. Following the completion of the transaction, the insider owned 49,346 shares of the company’s stock, valued at approximately $32,234,781.04. This represents a 18.23% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 44,289 shares of company stock valued at $27,525,241. Company insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CACC. Weiss Ratings upgraded shares of Credit Acceptance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. TD Cowen boosted their price target on Credit Acceptance from $575.00 to $600.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Credit Acceptance presently has a consensus rating of “Hold” and an average target price of $570.00.

Credit Acceptance Stock Down 0.2%

Shares of Credit Acceptance stock opened at $604.24 on Friday. The company has a fifty day moving average price of $597.35 and a 200 day moving average price of $546.59. The company has a current ratio of 14.89, a quick ratio of 14.89 and a debt-to-equity ratio of 3.84. Credit Acceptance Corporation has a twelve month low of $401.90 and a twelve month high of $668.86. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 13.29 and a beta of 1.35.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings data on Tuesday, August 4th. The credit services provider reported $12.12 EPS for the quarter, missing the consensus estimate of $12.20 by ($0.08). The company had revenue of $415.00 million during the quarter, compared to analysts’ expectations of $588.07 million. Credit Acceptance had a net margin of 21.54% and a return on equity of 31.67%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the business earned $10.05 earnings per share. Equities research analysts forecast that Credit Acceptance Corporation will post 47.8 earnings per share for the current fiscal year.

Credit Acceptance Company Profile

Credit Acceptance Corporation is a specialty finance company that provides automobile financing to consumers with limited or damaged credit histories. The company primarily operates through an indirect lending model, partnering with automobile dealers that offer financing to their customers at the point of sale.

Credit Acceptance purchases or services retail installment contracts originated by participating dealers and provides loan programs designed to help consumers obtain vehicles when they may not qualify for traditional prime lending.