Credit Acceptance Co. (NASDAQ:CACC) Shares Acquired by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC increased its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,399 shares of the credit services provider’s stock after acquiring an additional 119 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Credit Acceptance were worth $745,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC acquired a new position in shares of Credit Acceptance in the fourth quarter valued at approximately $472,516,000. Wellington Management Group LLP raised its position in Credit Acceptance by 7.4% during the 3rd quarter. Wellington Management Group LLP now owns 644,666 shares of the credit services provider’s stock worth $296,624,000 after buying an additional 44,454 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Credit Acceptance by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 590,161 shares of the credit services provider’s stock worth $271,545,000 after acquiring an additional 2,631 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Credit Acceptance by 7.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 71,193 shares of the credit services provider’s stock worth $32,757,000 after purchasing an additional 5,140 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Credit Acceptance by 3.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 30,759 shares of the credit services provider’s stock valued at $14,153,000 after purchasing an additional 1,028 shares in the last quarter. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Credit Acceptance Stock Performance

NASDAQ CACC opened at $515.52 on Friday. The business has a 50 day moving average price of $547.78 and a 200 day moving average price of $506.84. The company has a debt-to-equity ratio of 2.84, a current ratio of 15.71 and a quick ratio of 15.71. The company has a market capitalization of $6.34 billion, a P/E ratio of 23.41 and a beta of 1.45. Credit Acceptance Co. has a 1-year low of $379.77 and a 1-year high of $616.66.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $10.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.17 by $0.89. The business had revenue of $491.60 million during the quarter, compared to the consensus estimate of $478.80 million. Credit Acceptance had a return on equity of 30.94% and a net margin of 15.04%. Sell-side analysts expect that Credit Acceptance Co. will post 40.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $381.75.

Insider Buying and Selling

In related news, insider Douglas W. Busk sold 2,500 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $572.58, for a total value of $1,431,450.00. Following the completion of the transaction, the insider now owns 3,112 shares of the company’s stock, valued at approximately $1,781,868.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Douglas W. Busk sold 500 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $579.98, for a total transaction of $289,990.00. Following the completion of the sale, the insider now directly owns 3,112 shares in the company, valued at approximately $1,804,897.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas W. Busk sold 2,500 shares of Credit Acceptance stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $572.58, for a total value of $1,431,450.00. Following the completion of the transaction, the insider now directly owns 3,112 shares in the company, valued at $1,781,868.96. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

Credit Acceptance Company 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.