Treasurer of the State of North Carolina Has $1.38 Million Stake in Credit Acceptance Co. (NASDAQ:CACC)

Treasurer of the State of North Carolina grew its stake in Credit Acceptance Co. (NASDAQ:CACC – Get Rating) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,909 shares of the credit services provider’s stock after acquiring an additional 30 shares during the period. Treasurer of the State of North Carolina’s holdings in Credit Acceptance were worth $1,380,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Prudential PLC grew its holdings in shares of Credit Acceptance by 9.2% in the 4th quarter. Prudential PLC now owns 1,312 shares of the credit services provider’s stock valued at $622,000 after acquiring an additional 110 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Credit Acceptance by 2.1% in the 4th quarter. Arizona State Retirement System now owns 1,823 shares of the credit services provider’s stock valued at $865,000 after acquiring an additional 38 shares in the last quarter. Duality Advisers LP bought a new position in shares of Credit Acceptance in the 4th quarter valued at about $336,000. LPL Financial LLC grew its holdings in shares of Credit Acceptance by 5.7% in the 4th quarter. LPL Financial LLC now owns 553 shares of the credit services provider’s stock valued at $262,000 after acquiring an additional 30 shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in Credit Acceptance during the fourth quarter worth about $220,000. Institutional investors own 63.11% of the company’s stock.

Credit Acceptance Trading Down 0.6 %

Shares of NASDAQ:CACC opened at $435.19 on Friday. Credit Acceptance Co. has a 12-month low of $358.00 and a 12-month high of $617.44. The stock has a market cap of $5.59 billion, a PE ratio of 13.76 and a beta of 1.32. The business has a 50 day moving average of $441.93 and a 200-day moving average of $451.34. The company has a quick ratio of 17.48, a current ratio of 17.48 and a debt-to-equity ratio of 2.65.

Credit Acceptance (NASDAQ:CACC – Get Rating) last issued its quarterly earnings data on Monday, May 1st. The credit services provider reported $9.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.27 by ($2.56). Credit Acceptance had a return on equity of 40.26% and a net margin of 23.00%. The firm had revenue of $453.80 million for the quarter, compared to the consensus estimate of $458.12 million. During the same quarter in the prior year, the firm earned $13.76 EPS. The company’s revenue was down .4% on a year-over-year basis. As a group, equities research analysts forecast that Credit Acceptance Co. will post 45.1 earnings per share for the current year.

Insider Transactions at Credit Acceptance

In other news, insider Andrew K. Rostami sold 461 shares of the business’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $500.00, for a total transaction of $230,500.00. Following the completion of the sale, the insider now owns 7,115 shares in the company, valued at $3,557,500. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Andrew K. Rostami sold 461 shares of Credit Acceptance stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $500.00, for a total value of $230,500.00. Following the completion of the sale, the insider now directly owns 7,115 shares in the company, valued at $3,557,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas W. Smith sold 500 shares of Credit Acceptance stock in a transaction that occurred 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 completion of the sale, the insider now owns 76,050 shares of the company’s stock, valued at $34,231,626. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

CACC has been the subject of a number of research analyst reports. StockNews.com initiated coverage on Credit Acceptance in a report on Thursday. They set a “hold” rating for the company. BMO Capital Markets lifted their price target on Credit Acceptance from $360.00 to $380.00 and gave the stock a “market perform” rating in a report on Wednesday, February 1st. Stephens reduced their price target on Credit Acceptance from $442.00 to $440.00 in a report on Tuesday, May 2nd. Finally, Credit Suisse Group reduced their price target on Credit Acceptance from $400.00 to $380.00 in a report on Tuesday, May 2nd.

About Credit Acceptance

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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.