Credit Acceptance (NASDAQ:CACC) Lowered to Hold at StockNews.com

StockNews.com lowered shares of Credit Acceptance (NASDAQ:CACCFree Report) from a buy rating to a hold rating in a report issued on Friday morning.

Several other research firms have also weighed in on CACC. BMO Capital Markets lowered their price objective on shares of Credit Acceptance from $354.00 to $347.00 and set a market perform rating on the stock in a research note on Tuesday, October 31st. TD Cowen assumed coverage on shares of Credit Acceptance in a research note on Wednesday, November 1st. They set an underperform rating and a $360.00 price objective on the stock. Stephens restated an equal weight rating and set a $440.00 price objective on shares of Credit Acceptance in a research note on Tuesday, October 31st. Finally, TheStreet upgraded shares of Credit Acceptance from a c+ rating to a b- rating in a research note on Wednesday, December 13th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $381.75.

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Credit Acceptance Trading Down 0.7 %

Shares of NASDAQ:CACC opened at $551.87 on Friday. The company’s 50-day moving average price is $524.87 and its two-hundred day moving average price is $485.29. The company has a debt-to-equity ratio of 2.84, a current ratio of 18.50 and a quick ratio of 18.50. Credit Acceptance has a one year low of $379.77 and a one year high of $616.66. The stock has a market capitalization of $6.94 billion, a PE ratio of 25.06 and a beta of 1.48.

Insider Activity at Credit Acceptance

In related news, insider Douglas W. Busk sold 500 shares of the company’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $524.18, for a total value of $262,090.00. Following the transaction, the insider now owns 3,612 shares in the company, valued at approximately $1,893,338.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 4.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. National Bank of Canada FI grew its position in shares of Credit Acceptance by 48.0% during the 2nd quarter. National Bank of Canada FI now owns 74 shares of the credit services provider’s stock worth $38,000 after purchasing an additional 24 shares in the last quarter. AdvisorNet Financial Inc acquired a new position in shares of Credit Acceptance during the 3rd quarter worth approximately $46,000. NewEdge Advisors LLC grew its position in shares of Credit Acceptance by 289.7% during the 1st quarter. NewEdge Advisors LLC now owns 113 shares of the credit services provider’s stock worth $49,000 after purchasing an additional 84 shares in the last quarter. Whittier Trust Co. acquired a new position in shares of Credit Acceptance during the 4th quarter worth approximately $74,000. Finally, US Bancorp DE grew its position in shares of Credit Acceptance by 24.1% during the 2nd quarter. US Bancorp DE now owns 165 shares of the credit services provider’s stock worth $84,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

Credit Acceptance Company Profile

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Credit Acceptance Corporation engages in the provision of financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.

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