ClearAlpha Technologies LP Takes Position in Credit Acceptance Co. (NASDAQ:CACC)

ClearAlpha Technologies LP acquired a new position in Credit Acceptance Co. (NASDAQ:CACC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 651 shares of the credit services provider’s stock, valued at approximately $289,000.

A number of other large investors have also recently bought and sold shares of the business. nVerses Capital LLC bought a new position in shares of Credit Acceptance in the second quarter valued at approximately $51,000. Quest Partners LLC grew its stake in Credit Acceptance by 11,900.0% in the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock valued at $53,000 after buying an additional 119 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Credit Acceptance in the 3rd quarter worth $177,000. Headlands Technologies LLC lifted its position in Credit Acceptance by 24,850.0% during the 2nd quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock worth $257,000 after acquiring an additional 497 shares during the last quarter. Finally, Creative Planning acquired a new position in Credit Acceptance during the 2nd quarter worth $282,000. 81.71% of the stock is currently owned by institutional investors.

Credit Acceptance Price Performance

Shares of CACC stock opened at $485.43 on Tuesday. Credit Acceptance Co. has a 12 month low of $409.22 and a 12 month high of $616.66. The company has a market capitalization of $5.88 billion, a P/E ratio of 32.60 and a beta of 1.42. The stock has a 50 day moving average of $456.47 and a two-hundred day moving average of $479.60. The company has a current ratio of 23.63, a quick ratio of 23.63 and a debt-to-equity ratio of 3.79.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, beating analysts’ consensus estimates of $7.88 by $0.91. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The business had revenue of $550.30 million during the quarter, compared to analyst estimates of $548.13 million. During the same period in the prior year, the company posted $10.70 earnings per share. Credit Acceptance’s revenue was up 15.0% on a year-over-year basis. As a group, equities analysts expect that Credit Acceptance Co. will post 36.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Stephens assumed coverage on Credit Acceptance in a research note on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price objective on the stock. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, TD Cowen cut their target price on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a research note on Friday, November 1st.

Insider Transactions at Credit Acceptance

In related news, insider Thomas W. Smith sold 1,200 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $451.01, for a total value of $541,212.00. Following the sale, the insider now owns 74,450 shares of the company’s stock, valued at $33,577,694.50. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.30% of the stock is owned by 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.