Hsbc Holdings PLC Purchases 547 Shares of Credit Acceptance Co. (NASDAQ:CACC)

Hsbc Holdings PLC boosted its position in Credit Acceptance Co. (NASDAQ:CACCGet Rating) by 0.4% during the first quarter, Holdings Channel reports. The fund owned 148,763 shares of the credit services provider’s stock after acquiring an additional 547 shares during the period. Hsbc Holdings PLC’s holdings in Credit Acceptance were worth $81,572,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Cantillon Capital Management LLC increased its stake in Credit Acceptance by 2.9% in the first quarter. Cantillon Capital Management LLC now owns 257,231 shares of the credit services provider’s stock valued at $141,572,000 after acquiring an additional 7,370 shares during the last quarter. RV Capital GmbH grew its stake in shares of Credit Acceptance by 1.4% during the first quarter. RV Capital GmbH now owns 195,946 shares of the credit services provider’s stock valued at $107,843,000 after buying an additional 2,788 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Credit Acceptance by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 173,421 shares of the credit services provider’s stock valued at $95,443,000 after buying an additional 3,402 shares during the last quarter. Smead Capital Management Inc. grew its stake in shares of Credit Acceptance by 21.9% during the fourth quarter. Smead Capital Management Inc. now owns 128,656 shares of the credit services provider’s stock valued at $88,474,000 after buying an additional 23,149 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Credit Acceptance by 27.8% during the first quarter. Northern Trust Corp now owns 48,871 shares of the credit services provider’s stock valued at $26,897,000 after buying an additional 10,634 shares during the last quarter. Institutional investors own 63.11% of the company’s stock.

Credit Acceptance Stock Performance

Credit Acceptance stock opened at $515.22 on Friday. The company has a current ratio of 15.39, a quick ratio of 15.39 and a debt-to-equity ratio of 3.01. The firm has a 50-day moving average of $543.36 and a 200-day moving average of $542.68. The firm has a market cap of $6.66 billion, a P/E ratio of 9.67 and a beta of 1.36. Credit Acceptance Co. has a 1-year low of $452.48 and a 1-year high of $703.27.

Credit Acceptance (NASDAQ:CACCGet Rating) last posted its earnings results on Monday, August 1st. The credit services provider reported $7.94 earnings per share for the quarter, missing analysts’ consensus estimates of $12.14 by ($4.20). The firm had revenue of $457.40 million for the quarter, compared to analysts’ expectations of $454.77 million. Credit Acceptance had a return on equity of 47.19% and a net margin of 42.75%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $13.71 earnings per share. Sell-side analysts expect that Credit Acceptance Co. will post 54.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Credit Suisse Group reduced their price objective on Credit Acceptance from $460.00 to $440.00 and set an “underperform” rating on the stock in a research note on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $435.50.

Credit Acceptance Company Profile

(Get Rating)

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

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