142 Shares in Credit Acceptance Corp. (NASDAQ:CACC) Acquired by NN Investment Partners Holdings N.V.

NN Investment Partners Holdings N.V. purchased a new position in shares of Credit Acceptance Corp. (NASDAQ:CACC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 142 shares of the credit services provider’s stock, valued at approximately $59,000.

Several other hedge funds also recently bought and sold shares of CACC. Bank of New York Mellon Corp boosted its holdings in shares of Credit Acceptance by 6.5% during the fourth quarter. Bank of New York Mellon Corp now owns 50,703 shares of the credit services provider’s stock worth $22,428,000 after purchasing an additional 3,099 shares during the period. Cubist Systematic Strategies LLC lifted its stake in Credit Acceptance by 99.2% in the fourth quarter. Cubist Systematic Strategies LLC now owns 2,014 shares of the credit services provider’s stock valued at $891,000 after acquiring an additional 1,003 shares during the last quarter. Man Group plc lifted its stake in Credit Acceptance by 62.5% in the fourth quarter. Man Group plc now owns 3,011 shares of the credit services provider’s stock valued at $1,331,000 after acquiring an additional 1,158 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Credit Acceptance by 42.2% in the fourth quarter. Janus Henderson Group PLC now owns 28,973 shares of the credit services provider’s stock valued at $12,816,000 after acquiring an additional 8,596 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Credit Acceptance by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 192,189 shares of the credit services provider’s stock valued at $85,108,000 after acquiring an additional 7,947 shares during the last quarter. Institutional investors and hedge funds own 70.36% of the company’s stock.

Shares of CACC stock opened at $467.94 on Friday. Credit Acceptance Corp. has a 1 year low of $199.00 and a 1 year high of $520.00. The firm’s fifty day simple moving average is $434.24 and its 200 day simple moving average is $383.53. The firm has a market capitalization of $8.26 billion, a P/E ratio of 12.86 and a beta of 1.29. The company has a current ratio of 28.62, a quick ratio of 28.62 and a debt-to-equity ratio of 2.42.

Credit Acceptance (NASDAQ:CACC) last announced its earnings results on Thursday, July 30th. The credit services provider reported $5.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $8.36 by ($2.96). Credit Acceptance had a return on equity of 30.06% and a net margin of 21.79%. The company had revenue of $406.30 million for the quarter, compared to the consensus estimate of $372.72 million. Equities research analysts anticipate that Credit Acceptance Corp. will post 33.55 EPS for the current fiscal year.

In other Credit Acceptance news, major shareholder Donald A. Foss sold 6,175 shares of the business’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $451.45, for a total value of $2,787,703.75. Following the sale, the insider now owns 1,753,229 shares of the company’s stock, valued at approximately $791,495,232.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Donald A. Foss sold 10,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $331.03, for a total transaction of $3,310,300.00. Following the completion of the sale, the insider now directly owns 1,826,562 shares in the company, valued at approximately $604,646,818.86. The disclosure for this sale can be found here. Insiders have sold 72,395 shares of company stock worth $30,271,605 in the last ninety days. 5.20% of the stock is currently owned by insiders.

A number of analysts have issued reports on CACC shares. BidaskClub upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. BTIG Research reduced their target price on shares of Credit Acceptance from $190.00 to $160.00 and set a “sell” rating for the company in a research note on Monday, April 6th. TheStreet upgraded shares of Credit Acceptance from a “c+” rating to a “b” rating in a research note on Thursday. Zacks Investment Research cut shares of Credit Acceptance from a “strong-buy” rating to a “hold” rating and set a $480.00 price objective for the company. in a research note on Tuesday, July 28th. Finally, Janney Montgomery Scott upgraded shares of Credit Acceptance from a “sell” rating to a “neutral” rating and set a $394.00 price objective for the company in a research note on Friday. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Credit Acceptance has an average rating of “Hold” and a consensus price target of $293.50.

Credit Acceptance Company 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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