Handelsinvest Investeringsforvaltning Takes $261,000 Position in Credit Acceptance Co. (NASDAQ:CACC)

Handelsinvest Investeringsforvaltning acquired a new stake in Credit Acceptance Co. (NASDAQ:CACCFree Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 490 shares of the credit services provider’s stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CACC. Wellington Management Group LLP grew its stake in Credit Acceptance by 7.4% during the third quarter. Wellington Management Group LLP now owns 644,666 shares of the credit services provider’s stock valued at $296,624,000 after acquiring an additional 44,454 shares in the last quarter. Barclays PLC lifted its position in Credit Acceptance by 385.9% during the third quarter. Barclays PLC now owns 8,610 shares of the credit services provider’s stock valued at $3,961,000 after purchasing an additional 6,838 shares during the last quarter. Invesco Ltd. grew its stake in Credit Acceptance by 21.2% in the 3rd quarter. Invesco Ltd. now owns 18,643 shares of the credit services provider’s stock worth $8,578,000 after buying an additional 3,265 shares in the last quarter. PDT Partners LLC increased its holdings in shares of Credit Acceptance by 6.7% in the 2nd quarter. PDT Partners LLC now owns 7,961 shares of the credit services provider’s stock worth $4,044,000 after buying an additional 500 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Credit Acceptance by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 97,713 shares of the credit services provider’s stock valued at $49,631,000 after buying an additional 1,107 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. TheStreet raised Credit Acceptance from a “c+” rating to a “b-” rating in a report on Wednesday, December 13th. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $381.75.

View Our Latest Analysis on CACC

Insider Activity

In other Credit Acceptance news, insider Douglas W. Busk sold 500 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $579.98, for a total transaction of $289,990.00. Following the completion of the transaction, the insider now owns 3,112 shares of the company’s stock, valued at $1,804,897.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is currently owned by company insiders.

Credit Acceptance Price Performance

Shares of CACC stock opened at $566.46 on Friday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 15.71 and a current ratio of 15.71. The firm has a market cap of $6.97 billion, a P/E ratio of 25.72 and a beta of 1.46. The business’s 50 day moving average price is $550.57 and its 200-day moving average price is $495.40. Credit Acceptance Co. has a fifty-two week low of $379.77 and a fifty-two week high of $616.66.

Credit Acceptance (NASDAQ:CACCGet Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $10.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.17 by $0.89. Credit Acceptance had a net margin of 15.04% and a return on equity of 30.94%. The company had revenue of $491.60 million for the quarter, compared to analysts’ expectations of $478.80 million. On average, equities research analysts anticipate that Credit Acceptance Co. will post 41.06 earnings per share for the current year.

About Credit Acceptance

(Free Report)

Credit Acceptance Corporation engages in the provision of financing programs, and related products and services 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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Institutional Ownership by Quarter for Credit Acceptance (NASDAQ:CACC)

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