Credit Acceptance Co. (NASDAQ:CACC – Get Rating) – Jefferies Financial Group raised their Q3 2022 EPS estimates for Credit Acceptance in a report issued on Tuesday, August 2nd. Jefferies Financial Group analyst J. Hecht now anticipates that the credit services provider will post earnings per share of $13.38 for the quarter, up from their prior forecast of $11.85. The consensus estimate for Credit Acceptance’s current full-year earnings is $54.38 per share. Jefferies Financial Group also issued estimates for Credit Acceptance’s Q4 2022 earnings at $13.31 EPS, FY2022 earnings at $54.38 EPS, Q1 2023 earnings at $13.53 EPS, Q2 2023 earnings at $13.44 EPS, Q3 2023 earnings at $13.61 EPS, Q4 2023 earnings at $13.93 EPS and FY2023 earnings at $54.51 EPS.
Credit Acceptance (NASDAQ:CACC – Get Rating) last released its quarterly earnings data on Monday, August 1st. The credit services provider reported $7.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.14 by ($4.20). Credit Acceptance had a return on equity of 47.19% and a net margin of 42.75%. The business had revenue of $457.40 million during the quarter, compared to analyst estimates of $454.77 million. During the same period in the previous year, the company earned $13.71 EPS. Credit Acceptance’s revenue was down 3.0% on a year-over-year basis.
Credit Acceptance Price Performance
Credit Acceptance stock opened at $544.08 on Thursday. The firm has a fifty day moving average of $525.95 and a 200-day moving average of $539.61. The firm has a market capitalization of $7.03 billion, a P/E ratio of 10.21 and a beta of 1.34. Credit Acceptance has a 52-week low of $452.48 and a 52-week high of $703.27. The company has a quick ratio of 21.07, a current ratio of 15.39 and a debt-to-equity ratio of 3.01.
Hedge Funds Weigh In On Credit Acceptance
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CACC. Hanseatic Management Services Inc. bought a new stake in shares of Credit Acceptance during the 4th quarter worth $27,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Credit Acceptance by 920.0% during the first quarter. Steward Partners Investment Advisory LLC now owns 51 shares of the credit services provider’s stock worth $28,000 after acquiring an additional 46 shares in the last quarter. Harbor Investment Advisory LLC boosted its position in Credit Acceptance by 195.0% during the first quarter. Harbor Investment Advisory LLC now owns 59 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 39 shares during the last quarter. Elmwood Wealth Management Inc. purchased a new stake in shares of Credit Acceptance during the 4th quarter worth about $53,000. Finally, Knuff & Co LLC acquired a new stake in Credit Acceptance in the first quarter valued at approximately $54,000. 65.05% of the stock is owned by institutional investors.
Insider Transactions at Credit Acceptance
In related news, insider Prescott General Partners Llc sold 14,648 shares of the stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $587.29, for a total value of $8,602,623.92. Following the completion of the transaction, the insider now directly owns 43,831 shares of the company’s stock, valued at approximately $25,741,507.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.10% of the company’s stock.
Credit Acceptance Company Profile
Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.
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