PFG Investments LLC Grows Stock Holdings in Credit Acceptance Co. (NASDAQ:CACC)

PFG Investments LLC increased its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 25.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 750 shares of the credit services provider’s stock after buying an additional 150 shares during the period. PFG Investments LLC’s holdings in Credit Acceptance were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CACC. Bank of America Corp DE boosted its holdings in Credit Acceptance by 236.5% during the first quarter. Bank of America Corp DE now owns 108,520 shares of the credit services provider’s stock worth $47,319,000 after buying an additional 76,275 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Credit Acceptance by 7.4% in 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 purchasing an additional 44,454 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Credit Acceptance by 381.8% in the first quarter. Renaissance Technologies LLC now owns 27,888 shares of the credit services provider’s stock valued at $12,160,000 after purchasing an additional 22,100 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Credit Acceptance by 2,290.3% in the fourth quarter. Two Sigma Investments LP now owns 16,756 shares of the credit services provider’s stock valued at $7,949,000 after purchasing an additional 16,055 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Credit Acceptance by 438.2% in the fourth quarter. Millennium Management LLC now owns 19,261 shares of the credit services provider’s stock valued at $9,137,000 after purchasing an additional 15,682 shares in the last quarter. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CACC. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. TheStreet raised shares of Credit Acceptance from a “c+” rating to a “b-” rating in a report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Credit Acceptance currently has a consensus rating of “Hold” and an average target price of $381.75.

Credit Acceptance Stock Performance

Shares of CACC stock opened at $551.60 on Thursday. Credit Acceptance Co. has a one year low of $379.77 and a one year high of $616.66. 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 company has a 50 day moving average price of $552.99 and a 200 day moving average price of $497.03. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 25.05 and a beta of 1.46.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $10.06 EPS for the quarter, topping 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 firm had revenue of $491.60 million during the quarter, compared to analyst estimates of $478.80 million. Sell-side analysts anticipate that Credit Acceptance Co. will post 41.06 EPS for the current year.

Insider Transactions at Credit Acceptance

In other news, insider Douglas W. Busk sold 2,500 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $572.58, for a total value of $1,431,450.00. Following the completion of the sale, the insider now owns 3,112 shares of the company’s stock, valued at $1,781,868.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Douglas W. Busk sold 500 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $579.98, for a total value of $289,990.00. Following the completion of the transaction, the insider now directly owns 3,112 shares in the company, 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. Also, insider Douglas W. Busk sold 2,500 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $572.58, for a total transaction of $1,431,450.00. Following the completion of the transaction, the insider now owns 3,112 shares of the company’s stock, valued at $1,781,868.96. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

About Credit Acceptance

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.