Xponance Inc. Grows Stock Position in Credit Acceptance Co. (NASDAQ:CACC)

Xponance Inc. raised its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 10.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 730 shares of the credit services provider’s stock after buying an additional 69 shares during the quarter. Xponance Inc.’s holdings in Credit Acceptance were worth $343,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Park Avenue Securities LLC purchased a new stake in Credit Acceptance in the fourth quarter valued at approximately $680,000. Geode Capital Management LLC increased its holdings in shares of Credit Acceptance by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider’s stock worth $49,401,000 after buying an additional 2,522 shares during the last quarter. Wealthfront Advisers LLC purchased a new position in shares of Credit Acceptance in the 4th quarter worth $18,146,000. Barclays PLC boosted its holdings in Credit Acceptance by 85.8% in the third quarter. Barclays PLC now owns 5,241 shares of the credit services provider’s stock valued at $2,324,000 after acquiring an additional 2,420 shares during the last quarter. Finally, AlphaQuest LLC grew its position in Credit Acceptance by 759.2% during the fourth quarter. AlphaQuest LLC now owns 1,031 shares of the credit services provider’s stock valued at $484,000 after acquiring an additional 911 shares during the period. Institutional investors and hedge funds own 81.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Stephens increased their target price on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st.

Insiders Place Their Bets

In other news, insider Douglas W. Busk sold 3,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $1,605,698.64. The trade was a 49.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas J. Elliott sold 300 shares of Credit Acceptance stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total transaction of $150,600.00. Following the sale, the insider now directly owns 19,385 shares in the company, valued at $9,731,270. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Credit Acceptance Stock Performance

NASDAQ:CACC opened at $510.96 on Friday. The firm’s fifty day simple moving average is $500.34 and its 200 day simple moving average is $474.17. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 25.73 and a beta of 1.51.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, topping analysts’ consensus estimates of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. As a group, equities research analysts expect that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.

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.