Credit Acceptance Co. (NASDAQ:CACC) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its stake in Credit Acceptance Co. (NASDAQ:CACC) by 0.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 183,203 shares of the credit services provider’s stock after acquiring an additional 1,318 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.51% of Credit Acceptance worth $86,004,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wealthfront Advisers LLC purchased a new stake in shares of Credit Acceptance in the 4th quarter valued at approximately $18,146,000. Envestnet Asset Management Inc. raised its stake in Credit Acceptance by 805.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 27,450 shares of the credit services provider’s stock valued at $12,887,000 after purchasing an additional 24,417 shares during the period. Kize Capital LP lifted its holdings in shares of Credit Acceptance by 23.7% in the fourth quarter. Kize Capital LP now owns 84,233 shares of the credit services provider’s stock valued at $39,544,000 after purchasing an additional 16,156 shares in the last quarter. Barclays PLC boosted its position in shares of Credit Acceptance by 277.1% in the fourth quarter. Barclays PLC now owns 19,763 shares of the credit services provider’s stock worth $9,277,000 after buying an additional 14,522 shares during the period. Finally, National Bank of Canada FI boosted its position in shares of Credit Acceptance by 6,314.6% in the fourth quarter. National Bank of Canada FI now owns 12,701 shares of the credit services provider’s stock worth $5,963,000 after buying an additional 12,503 shares during the period. 81.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Credit Acceptance

In related news, insider Nicholas J. Elliott sold 300 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $502.00, for a total value of $150,600.00. Following the transaction, the insider now directly owns 19,385 shares in the company, valued at approximately $9,731,270. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas W. Busk sold 3,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $1,605,698.64. This represents a 49.08 % decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.

Credit Acceptance Price Performance

CACC opened at $488.99 on Wednesday. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $614.96. The stock has a fifty day moving average price of $486.93 and a 200 day moving average price of $481.72. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 24.62 and a beta of 1.27.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, beating the consensus estimate of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. Analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Stephens increased their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st.

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.