Strs Ohio Takes Position in Credit Acceptance Co. (NASDAQ:CACC)

Strs Ohio purchased a new stake in Credit Acceptance Co. (NASDAQ:CACC) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,679 shares of the credit services provider’s stock, valued at approximately $894,000.

Other hedge funds have also bought and sold shares of the company. Realta Investment Advisors lifted its stake in Credit Acceptance by 2.4% during the fourth quarter. Realta Investment Advisors now owns 854 shares of the credit services provider’s stock worth $455,000 after purchasing an additional 20 shares during the last quarter. Arizona State Retirement System raised its stake in Credit Acceptance by 1.4% during the third quarter. Arizona State Retirement System now owns 1,827 shares of the credit services provider’s stock worth $841,000 after acquiring an additional 25 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of Credit Acceptance by 2.7% in the third quarter. M&T Bank Corp now owns 1,038 shares of the credit services provider’s stock worth $478,000 after acquiring an additional 27 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Credit Acceptance by 0.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,163 shares of the credit services provider’s stock valued at $1,915,000 after purchasing an additional 29 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Credit Acceptance by 15.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 338 shares of the credit services provider’s stock valued at $180,000 after purchasing an additional 46 shares during the last quarter. 81.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $381.75.

Credit Acceptance Stock Performance

Credit Acceptance stock opened at $522.22 on Thursday. The business has a 50 day moving average of $549.48 and a 200-day moving average of $506.67. The company has a debt-to-equity ratio of 2.84, a current ratio of 15.71 and a quick ratio of 15.71. Credit Acceptance Co. has a 1 year low of $379.77 and a 1 year high of $616.66. The company has a market capitalization of $6.42 billion, a P/E ratio of 23.72 and a beta of 1.45.

Credit Acceptance (NASDAQ:CACC) 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. The firm had revenue of $491.60 million during the quarter, compared to analysts’ expectations of $478.80 million. Credit Acceptance had a net margin of 15.04% and a return on equity of 30.94%. On average, equities research analysts predict that Credit Acceptance Co. will post 40.95 earnings per share for the current year.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, insider Douglas W. Busk sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $572.58, for a total value of $1,431,450.00. Following the sale, the insider now owns 3,112 shares in the company, valued at approximately $1,781,868.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Credit Acceptance news, insider Douglas W. Busk sold 2,500 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $1,781,868.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas W. Busk sold 500 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was 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 in the company, valued at approximately $1,804,897.76. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.

Credit Acceptance Company Profile

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.