Teachers Retirement System of The State of Kentucky Makes New Investment in Credit Acceptance Co. (NASDAQ:CACC)

Teachers Retirement System of The State of Kentucky acquired a new position in Credit Acceptance Co. (NASDAQ:CACC – Get Rating) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 15,695 shares of the credit services provider’s stock, valued at approximately $6,874,000.

A number of other large investors have also recently added to or reduced their stakes in CACC. American Century Companies Inc. grew its stake in Credit Acceptance by 22.6% in the 1st quarter. American Century Companies Inc. now owns 2,210 shares of the credit services provider’s stock valued at $1,216,000 after acquiring an additional 408 shares during the last quarter. Bank of Montreal Can grew its stake in Credit Acceptance by 3.1% in 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 acquiring an additional 67 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in Credit Acceptance in the 1st quarter valued at about $101,000. Dimensional Fund Advisors LP grew its stake in Credit Acceptance by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 173,421 shares of the credit services provider’s stock valued at $95,443,000 after acquiring an additional 3,402 shares during the last quarter. Finally, Covestor Ltd grew its stake in Credit Acceptance by 57.6% in the 1st quarter. Covestor Ltd now owns 227 shares of the credit services provider’s stock valued at $125,000 after acquiring an additional 83 shares during the last quarter. 63.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Credit Acceptance

In related news, insider Thomas W. Smith sold 500 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $450.12, for a total value of $225,060.00. Following the transaction, the insider now owns 76,050 shares in the company, valued at $34,231,626. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Thomas W. Smith sold 500 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $450.12, for a total value of $225,060.00. Following the transaction, the insider now owns 76,050 shares in the company, valued at $34,231,626. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas W. Smith sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $441.58, for a total transaction of $441,580.00. Following the completion of the transaction, the insider now owns 22,948 shares in the company, valued at approximately $10,133,377.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,500 shares of company stock worth $1,221,680. Company insiders own 3.10% of the company’s stock.

Credit Acceptance Price Performance

NASDAQ:CACC opened at $395.94 on Friday. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 10.17 and a beta of 1.31. The company has a current ratio of 23.10, a quick ratio of 23.10 and a debt-to-equity ratio of 2.81. The company’s 50-day moving average is $446.96 and its two-hundred day moving average is $459.23. Credit Acceptance Co. has a 12-month low of $358.00 and a 12-month high of $648.95.

Credit Acceptance (NASDAQ:CACC – Get Rating) last released its earnings results on Tuesday, January 31st. The credit services provider reported $11.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.28 by $2.46. The company had revenue of $459.00 million for the quarter, compared to analyst estimates of $452.89 million. Credit Acceptance had a net margin of 29.24% and a return on equity of 45.27%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $14.26 EPS. Research analysts expect that Credit Acceptance Co. will post 45.46 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com assumed coverage on shares of Credit Acceptance in a research note on Thursday. They issued a “hold” rating on the stock. Stephens restated an “equal weight” rating and issued a $442.00 target price on shares of Credit Acceptance in a report on Thursday, March 9th. Finally, BMO Capital Markets upped their target price on shares of Credit Acceptance from $360.00 to $380.00 and gave the company a “market perform” rating in a report on Wednesday, February 1st.

Credit Acceptance Company Profile

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Credit Acceptance Corp. engages in the provision of dealer financing programs that enables automobile dealers to sell vehicles to consumers, regardless of its credit history. Its financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers.