Xact Kapitalforvaltning AB Purchases New Holdings in Credit Acceptance Corp. (CACC)

Xact Kapitalforvaltning AB purchased a new stake in Credit Acceptance Corp. (NASDAQ:CACC) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 686 shares of the credit services provider’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Credit Acceptance by 1.3% in the 4th quarter. BlackRock Inc. now owns 484,188 shares of the credit services provider’s stock valued at $156,624,000 after purchasing an additional 6,036 shares in the last quarter. Wasatch Advisors Inc. boosted its position in Credit Acceptance by 4.1% in the 4th quarter. Wasatch Advisors Inc. now owns 238,183 shares of the credit services provider’s stock valued at $77,047,000 after buying an additional 9,330 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Credit Acceptance by 9.0% in the 4th quarter. TIAA CREF Investment Management LLC now owns 213,735 shares of the credit services provider’s stock valued at $69,139,000 after buying an additional 17,698 shares during the last quarter. Schroder Investment Management Group boosted its position in Credit Acceptance by 5,483.8% in the 4th quarter. Schroder Investment Management Group now owns 206,600 shares of the credit services provider’s stock valued at $66,831,000 after buying an additional 202,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Credit Acceptance by 6.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 191,207 shares of the credit services provider’s stock valued at $53,570,000 after buying an additional 11,956 shares during the last quarter. Hedge funds and other institutional investors own 70.35% of the company’s stock.

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Shares of CACC stock opened at $322.13 on Wednesday. The company has a current ratio of 24.00, a quick ratio of 24.00 and a debt-to-equity ratio of 1.99. Credit Acceptance Corp. has a one year low of $190.09 and a one year high of $377.82. The stock has a market cap of $6,107.77, a PE ratio of 15.44, a P/E/G ratio of 0.68 and a beta of 0.53.



Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results on Tuesday, January 30th. The credit services provider reported $5.16 EPS for the quarter, missing the consensus estimate of $5.53 by ($0.37). Credit Acceptance had a return on equity of 30.18% and a net margin of 42.36%. The company had revenue of $287.30 million for the quarter, compared to the consensus estimate of $287.37 million. During the same period in the previous year, the business posted $4.79 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. analysts anticipate that Credit Acceptance Corp. will post 26.15 EPS for the current year.

In other news, insider Douglas W. Busk sold 1,000 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $319.86, for a total transaction of $319,860.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kenneth Booth sold 2,000 shares of the stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $334.50, for a total transaction of $669,000.00. The disclosure for this sale can be found here. Insiders have sold 5,500 shares of company stock worth $1,831,385 in the last ninety days. Corporate insiders own 5.80% of the company’s stock.

A number of research firms have weighed in on CACC. JMP Securities upped their price objective on shares of Credit Acceptance from $195.00 to $260.00 and gave the company an “underperform” rating in a research report on Wednesday, January 31st. BidaskClub cut shares of Credit Acceptance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 6th. Credit Suisse Group reissued a “sell” rating and issued a $270.00 price objective on shares of Credit Acceptance in a research report on Monday, January 8th. Zacks Investment Research cut shares of Credit Acceptance from a “hold” rating to a “sell” rating in a research report on Tuesday, March 27th. Finally, Oppenheimer began coverage on shares of Credit Acceptance in a research report on Monday, January 8th. They issued a “buy” rating and a $355.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Credit Acceptance has an average rating of “Hold” and a consensus target price of $280.78.

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Credit Acceptance Profile

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

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Institutional Ownership by Quarter for Credit Acceptance (NASDAQ:CACC)

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