Versor Investments LP Has $691,000 Position in Credit Acceptance Co. (NASDAQ:CACC)

Versor Investments LP raised its holdings in Credit Acceptance Co. (NASDAQ:CACCFree Report) by 113.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,298 shares of the credit services provider’s stock after buying an additional 689 shares during the period. Versor Investments LP’s holdings in Credit Acceptance were worth $691,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CACC. Bank of New York Mellon Corp increased its stake in Credit Acceptance by 3.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 30,759 shares of the credit services provider’s stock valued at $14,153,000 after buying an additional 1,028 shares during the last quarter. Manhattan West Asset Management LLC increased its stake in Credit Acceptance by 18.8% in the 3rd quarter. Manhattan West Asset Management LLC now owns 4,721 shares of the credit services provider’s stock valued at $2,172,000 after buying an additional 747 shares during the last quarter. JLB & Associates Inc. increased its stake in Credit Acceptance by 1.1% in the 3rd quarter. JLB & Associates Inc. now owns 6,169 shares of the credit services provider’s stock valued at $2,838,000 after buying an additional 66 shares during the last quarter. M&T Bank Corp increased its stake in Credit Acceptance by 2.7% in the 3rd quarter. M&T Bank Corp now owns 1,038 shares of the credit services provider’s stock valued at $478,000 after buying an additional 27 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Credit Acceptance by 0.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,163 shares of the credit services provider’s stock worth $1,915,000 after purchasing an additional 29 shares during the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 completion of the sale, the insider now owns 3,112 shares of the company’s stock, valued at approximately $1,781,868.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.20% of the stock is currently owned by corporate insiders.

Credit Acceptance Stock Performance

Shares of NASDAQ:CACC traded down $8.88 during trading on Friday, reaching $514.94. 28,372 shares of the stock were exchanged, compared to its average volume of 55,431. Credit Acceptance Co. has a 12 month low of $379.77 and a 12 month high of $616.66. The stock has a 50-day moving average price of $539.79 and a 200-day moving average price of $513.57. The company has a current ratio of 13.79, a quick ratio of 13.79 and a debt-to-equity ratio of 3.29. The firm has a market cap of $6.24 billion, a PE ratio of 26.42 and a beta of 1.44.

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

Analyst Ratings Changes

Several research firms have recently weighed in on CACC. TD Cowen lowered their price objective on shares of Credit Acceptance from $465.00 to $420.00 and set a “sell” rating on the stock in a research note on Thursday, May 2nd. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $402.33.

View Our Latest Stock Report on CACC

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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