Walleye Capital LLC Invests $251,000 in Credit Acceptance Co. (NASDAQ:CACC)

Walleye Capital LLC bought a new position in Credit Acceptance Co. (NASDAQ:CACCGet Rating) in the second quarter, HoldingsChannel.com reports. The fund bought 530 shares of the credit services provider’s stock, valued at approximately $251,000.

A number of other hedge funds have also modified their holdings of the stock. Baird Financial Group Inc. raised its holdings in shares of Credit Acceptance by 3.6% in the 2nd quarter. Baird Financial Group Inc. now owns 742 shares of the credit services provider’s stock worth $351,000 after buying an additional 26 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Credit Acceptance by 1.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 2,929 shares of the credit services provider’s stock worth $1,387,000 after buying an additional 37 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Credit Acceptance by 920.0% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 51 shares of the credit services provider’s stock valued at $28,000 after purchasing an additional 46 shares in the last quarter. Bank of Montreal Can increased its holdings in Credit Acceptance by 3.1% during the 1st quarter. Bank of Montreal Can now owns 2,203 shares of the credit services provider’s stock valued at $1,227,000 after purchasing an additional 67 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in Credit Acceptance by 251.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 95 shares of the credit services provider’s stock valued at $45,000 after purchasing an additional 68 shares in the last quarter. 63.11% of the stock is owned by institutional investors and hedge funds.

Credit Acceptance Stock Down 0.4 %

Shares of CACC opened at $473.81 on Friday. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 10.78 and a beta of 1.37. The company has a debt-to-equity ratio of 2.79, a quick ratio of 15.89 and a current ratio of 15.89. The business’s fifty day moving average price is $461.57 and its two-hundred day moving average price is $516.21. Credit Acceptance Co. has a 52 week low of $397.58 and a 52 week high of $699.08.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CACC shares. Credit Suisse Group dropped their price target on Credit Acceptance from $430.00 to $410.00 and set an “underperform” rating for the company in a report on Wednesday, November 2nd. StockNews.com started coverage on Credit Acceptance in a report on Wednesday, October 12th. They set a “hold” rating for the company. Stephens decreased their price objective on Credit Acceptance from $519.00 to $442.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 2nd. Finally, BMO Capital Markets decreased their price objective on Credit Acceptance from $477.00 to $364.00 and set a “market perform” rating on the stock in a research report on Thursday, November 3rd.

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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