American Trust Purchases Shares of 501 Credit Acceptance Co. (NASDAQ:CACC)

American Trust purchased a new stake in Credit Acceptance Co. (NASDAQ:CACCGet Rating) in the first quarter, HoldingsChannel reports. The institutional investor purchased 501 shares of the credit services provider’s stock, valued at approximately $276,000.

Other hedge funds also recently modified their holdings of the company. APG Asset Management N.V. lifted its stake in shares of Credit Acceptance by 156.0% during the 1st quarter. APG Asset Management N.V. now owns 6,400 shares of the credit services provider’s stock worth $3,166,000 after buying an additional 3,900 shares during the last quarter. Alberta Investment Management Corp lifted its stake in shares of Credit Acceptance by 207.3% during the 4th quarter. Alberta Investment Management Corp now owns 15,363 shares of the credit services provider’s stock worth $10,565,000 after buying an additional 10,363 shares during the last quarter. PDT Partners LLC raised its stake in Credit Acceptance by 74.8% in the 1st quarter. PDT Partners LLC now owns 8,141 shares of the credit services provider’s stock worth $4,481,000 after purchasing an additional 3,483 shares in the last quarter. Manhattan West Asset Management LLC acquired a new stake in Credit Acceptance in the 1st quarter worth about $1,255,000. Finally, Shell Asset Management Co. acquired a new stake in Credit Acceptance in the 1st quarter worth about $186,000. Institutional investors and hedge funds own 63.11% of the company’s stock.

Credit Acceptance Price Performance

Shares of Credit Acceptance stock opened at $487.20 on Monday. The company has a quick ratio of 15.39, a current ratio of 15.39 and a debt-to-equity ratio of 3.01. Credit Acceptance Co. has a twelve month low of $452.48 and a twelve month high of $703.27. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 9.15 and a beta of 1.36. The company has a 50-day simple moving average of $542.63 and a two-hundred day simple moving average of $541.00.

Credit Acceptance (NASDAQ:CACCGet Rating) last released its earnings results on Monday, August 1st. The credit services provider reported $7.94 EPS for the quarter, missing the consensus estimate of $12.14 by ($4.20). Credit Acceptance had a net margin of 42.75% and a return on equity of 47.19%. The firm had revenue of $457.40 million during the quarter, compared to the consensus estimate of $454.77 million. During the same period in the prior year, the business earned $13.71 earnings per share. Credit Acceptance’s quarterly revenue was down 3.0% compared to the same quarter last year. Analysts forecast that Credit Acceptance Co. will post 54.38 EPS for the current year.

Analyst Ratings Changes

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

About Credit Acceptance

(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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