Dimensional Fund Advisors LP Buys 1,862 Shares of Credit Acceptance Co. (NASDAQ:CACC)

Dimensional Fund Advisors LP raised its stake in Credit Acceptance Co. (NASDAQ:CACC – Get Rating) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 170,999 shares of the credit services provider’s stock after acquiring an additional 1,862 shares during the period. Dimensional Fund Advisors LP’s holdings in Credit Acceptance were worth $81,121,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Treasurer of the State of North Carolina increased its holdings in shares of Credit Acceptance by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 2,909 shares of the credit services provider’s stock worth $1,380,000 after buying an additional 30 shares during the last quarter. Prudential PLC increased 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 worth $622,000 after buying an additional 110 shares during the last quarter. Arizona State Retirement System increased 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 worth $865,000 after buying an additional 38 shares during the last quarter. Duality Advisers LP bought a new stake in shares of Credit Acceptance in the 4th quarter worth about $336,000. Finally, LPL Financial LLC increased 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 worth $262,000 after buying an additional 30 shares during the last quarter. 63.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, insider Thomas W. Smith sold 500 shares of the business’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $450.12, for a total value of $225,060.00. Following the completion of the sale, the insider now directly owns 76,050 shares of the company’s stock, valued at approximately $34,231,626. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Andrew K. Rostami sold 461 shares of the company’s 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 owns 7,115 shares of the company’s stock, valued at approximately $3,557,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas W. Smith sold 500 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The stock was 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 directly owns 76,050 shares of the company’s stock, valued at approximately $34,231,626. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CACC has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Credit Acceptance from $360.00 to $380.00 and gave the stock a “market perform” rating in a report on Wednesday, February 1st. Credit Suisse Group dropped their price target on shares of Credit Acceptance from $400.00 to $380.00 in a research note on Tuesday, May 2nd. StockNews.com assumed coverage on shares of Credit Acceptance in a research note on Thursday, May 18th. They set a “hold” rating for the company. Finally, Stephens dropped their price target on shares of Credit Acceptance from $442.00 to $440.00 in a research note on Tuesday, May 2nd.

Credit Acceptance Price Performance

CACC stock opened at $433.93 on Thursday. Credit Acceptance Co. has a 12 month low of $358.00 and a 12 month high of $617.44. The company has a current ratio of 17.48, a quick ratio of 17.48 and a debt-to-equity ratio of 2.65. The company has a 50-day moving average price of $444.08 and a 200 day moving average price of $451.29. The stock has a market cap of $5.57 billion, a PE ratio of 13.72 and a beta of 1.32.

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

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.