Public Employees Retirement System of Ohio Decreases Stake in Credit Acceptance Co. (NASDAQ:CACC)

Public Employees Retirement System of Ohio reduced its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,286 shares of the credit services provider’s stock after selling 121 shares during the period. Public Employees Retirement System of Ohio’s holdings in Credit Acceptance were worth $1,073,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. US Bancorp DE lifted its holdings in Credit Acceptance by 50.4% in the fourth quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock valued at $84,000 after acquiring an additional 60 shares during the period. Corient Private Wealth LLC lifted its stake in shares of Credit Acceptance by 7.2% in the 4th quarter. Corient Private Wealth LLC now owns 1,030 shares of the credit services provider’s stock valued at $484,000 after purchasing an additional 69 shares during the period. Xponance Inc. boosted its holdings in Credit Acceptance by 10.4% during the fourth quarter. Xponance Inc. now owns 730 shares of the credit services provider’s stock worth $343,000 after buying an additional 69 shares in the last quarter. First Horizon Advisors Inc. acquired a new stake in Credit Acceptance during the fourth quarter valued at $34,000. Finally, TD Private Client Wealth LLC purchased a new position in Credit Acceptance in the fourth quarter valued at $37,000. 81.71% of the stock is owned by hedge funds and other institutional investors.

Credit Acceptance Trading Up 3.2%

Shares of Credit Acceptance stock opened at $488.51 on Wednesday. Credit Acceptance Co. has a fifty-two week low of $409.22 and a fifty-two week high of $614.96. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. The company has a market cap of $5.67 billion, a P/E ratio of 24.60 and a beta of 1.23. The firm has a 50-day simple moving average of $487.59 and a two-hundred day simple moving average of $487.52.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.31 by ($0.96). The business had revenue of $571.10 million for the quarter, compared to analysts’ expectations of $570.25 million. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.28 EPS. As a group, equities analysts predict that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.

Insider Activity at Credit Acceptance

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

Credit Acceptance 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.