Allen Investment Management LLC trimmed its position in Credit Acceptance Corporation (NASDAQ:CACC) by 16.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,497 shares of the credit services provider’s stock after selling 505 shares during the quarter. Allen Investment Management LLC’s holdings in Credit Acceptance Corporation were worth $700,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Credit Acceptance Corporation by 9.4% in the third quarter. Bank of New York Mellon Corp now owns 53,826 shares of the credit services provider’s stock worth $15,081,000 after purchasing an additional 4,613 shares during the last quarter. Prudential Financial Inc. raised its position in Credit Acceptance Corporation by 386.9% during the third quarter. Prudential Financial Inc. now owns 10,823 shares of the credit services provider’s stock valued at $3,033,000 after acquiring an additional 8,600 shares in the last quarter. Chicago Equity Partners LLC purchased a new position in Credit Acceptance Corporation during the third quarter valued at approximately $2,260,000. First Capital Advisors Group LLC. purchased a new position in Credit Acceptance Corporation during the third quarter valued at approximately $233,000. Finally, Victory Capital Management Inc. raised its position in Credit Acceptance Corporation by 91.3% during the third quarter. Victory Capital Management Inc. now owns 49,333 shares of the credit services provider’s stock valued at $13,822,000 after acquiring an additional 23,539 shares in the last quarter. Hedge funds and other institutional investors own 72.16% of the company’s stock.
Several research analysts recently weighed in on the company. JMP Securities reiterated an “underperform” rating and set a $195.00 price target (up from $180.00) on shares of Credit Acceptance Corporation in a research report on Tuesday, August 1st. BMO Capital Markets lifted their price target on Credit Acceptance Corporation from $226.00 to $238.00 and gave the company a “market perform” rating in a research report on Tuesday, August 1st. Jefferies Group LLC reiterated a “hold” rating and set a $240.00 price target (up from $215.00) on shares of Credit Acceptance Corporation in a research report on Tuesday, August 1st. Raymond James Financial, Inc. upgraded Credit Acceptance Corporation from an “underperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. Finally, Credit Suisse Group reiterated an “underperform” rating and set a $200.00 price target (up from $190.00) on shares of Credit Acceptance Corporation in a research report on Tuesday, August 1st. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $229.78.
Credit Acceptance Corporation (CACC) traded down $0.47 during trading on Thursday, hitting $284.59. The stock had a trading volume of 196,300 shares, compared to its average volume of 209,379. The stock has a market capitalization of $5,504.57, a PE ratio of 14.18, a PEG ratio of 1.16 and a beta of 0.51. Credit Acceptance Corporation has a 1-year low of $182.50 and a 1-year high of $299.92. The company has a debt-to-equity ratio of 2.12, a current ratio of 17.63 and a quick ratio of 17.63.
Credit Acceptance Corporation (NASDAQ:CACC) last posted its quarterly earnings data on Monday, October 30th. The credit services provider reported $5.43 EPS for the quarter, beating the Zacks’ consensus estimate of $5.15 by $0.28. The business had revenue of $283.90 million during the quarter, compared to analysts’ expectations of $281.03 million. Credit Acceptance Corporation had a return on equity of 32.08% and a net margin of 35.29%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.53 earnings per share. equities analysts forecast that Credit Acceptance Corporation will post 20.84 EPS for the current fiscal year.
Credit Acceptance Corporation Profile
Credit Acceptance Corporation offers financing programs that enable automobile dealers to sell vehicles to consumers. The Company’s financing programs are offered through a network of automobile dealers. The Company has two Dealers financing programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, the Company advances money to dealers (Dealer Loan) in exchange for the right to service the underlying consumer loans.
Want to see what other hedge funds are holding CACC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credit Acceptance Corporation (NASDAQ:CACC).
Receive News & Ratings for Credit Acceptance Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credit Acceptance Corporation and related companies with MarketBeat.com's FREE daily email newsletter.