Credit Acceptance Co. (NASDAQ:CACC) Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC lessened its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 21.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,659 shares of the credit services provider’s stock after selling 6,982 shares during the quarter. Ingalls & Snyder LLC’s holdings in Credit Acceptance were worth $12,046,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Eagle Bay Advisors LLC acquired a new stake in shares of Credit Acceptance during the fourth quarter worth $28,000. Quest Partners LLC boosted its holdings in shares of Credit Acceptance by 11,900.0% during the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after purchasing an additional 119 shares during the last quarter. nVerses Capital LLC boosted its holdings in shares of Credit Acceptance by 200.0% during the third quarter. nVerses Capital LLC now owns 300 shares of the credit services provider’s stock worth $133,000 after purchasing an additional 200 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Credit Acceptance during the fourth quarter worth $142,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Credit Acceptance during the third quarter worth $177,000. Institutional investors and hedge funds own 81.71% of the company’s stock.

Credit Acceptance Trading Down 0.9 %

Shares of CACC opened at $502.71 on Thursday. The company has a current ratio of 23.63, a quick ratio of 23.63 and a debt-to-equity ratio of 3.79. The firm has a market capitalization of $6.09 billion, a P/E ratio of 25.31 and a beta of 1.47. The stock’s fifty day simple moving average is $486.86 and its 200 day simple moving average is $470.09. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, topping the consensus estimate of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.60% and a net margin of 11.46%. On average, equities research analysts forecast that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Insider Buying and Selling

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total value of $270,424.80. Following the transaction, the chief operating officer now directly owns 31,493 shares of the company’s stock, valued at $15,428,420.70. This trade represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.30% of the company’s stock.

Wall Street Analysts Forecast Growth

CACC has been the topic of several analyst reports. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Stephens raised their price objective on Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, TD Cowen decreased their price objective on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a report on Friday, November 1st.

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.