American Trust Has $205,000 Stake in Credit Acceptance Co. (NASDAQ:CACC)

American Trust lowered its stake in shares of Credit Acceptance Co. (NASDAQ:CACCGet Rating) by 6.2% in the third quarter, Holdings Channel.com reports. The firm owned 469 shares of the credit services provider’s stock after selling 31 shares during the period. American Trust’s holdings in Credit Acceptance were worth $205,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Gamco Investors INC. ET AL boosted its stake in Credit Acceptance by 2.0% during the 3rd quarter. Gamco Investors INC. ET AL now owns 1,265 shares of the credit services provider’s stock valued at $554,000 after purchasing an additional 25 shares during the last quarter. Baird Financial Group Inc. boosted its stake in Credit Acceptance by 3.6% during the 2nd quarter. Baird Financial Group Inc. now owns 742 shares of the credit services provider’s stock valued at $351,000 after purchasing an additional 26 shares during the last quarter. UBS Group AG boosted its stake in Credit Acceptance by 1.7% during the 3rd quarter. UBS Group AG now owns 1,597 shares of the credit services provider’s stock valued at $700,000 after purchasing an additional 27 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Credit Acceptance by 4.7% during the 2nd quarter. Macquarie Group Ltd. now owns 629 shares of the credit services provider’s stock valued at $298,000 after purchasing an additional 28 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its stake in Credit Acceptance by 3.0% during the 3rd quarter. Ritholtz Wealth Management now owns 1,214 shares of the credit services provider’s stock valued at $532,000 after purchasing an additional 35 shares during the last quarter. Institutional investors and hedge funds own 63.11% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Credit Acceptance Trading Down 2.4 %

NASDAQ:CACC opened at $395.94 on Friday. 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 stock has a market capitalization of $5.08 billion, a PE ratio of 10.17 and a beta of 1.31. The firm’s 50 day moving average is $446.96 and its 200 day moving average is $458.67. Credit Acceptance Co. has a 12 month low of $358.00 and a 12 month high of $648.95.

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

Insider Buying and Selling

In other Credit Acceptance news, insider Wendy A. Rummler sold 1,000 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $555.04, for a total transaction of $555,040.00. Following the sale, the insider now owns 1,834 shares of the company’s stock, valued at approximately $1,017,943.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Credit Acceptance news, insider Wendy A. Rummler sold 1,000 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $555.04, for a total transaction of $555,040.00. Following the sale, the insider now owns 1,834 shares of the company’s stock, valued at approximately $1,017,943.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas W. Smith sold 500 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $450.12, for a total transaction of $225,060.00. Following the sale, the insider now directly owns 76,050 shares in the company, valued at approximately $34,231,626. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,500 shares of company stock valued at $1,221,680. 3.10% of the stock is owned by company insiders.

Credit Acceptance Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding CACC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credit Acceptance Co. (NASDAQ:CACCGet Rating).

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

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