Makaira Partners LLC lifted its stake in Credit Acceptance Corp. (NASDAQ:CACC) by 5.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,370 shares of the credit services provider’s stock after acquiring an additional 1,200 shares during the period. Credit Acceptance accounts for about 0.9% of Makaira Partners LLC’s investment portfolio, making the stock its 11th largest position. Makaira Partners LLC owned approximately 0.12% of Credit Acceptance worth $7,560,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in Credit Acceptance by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 619 shares of the credit services provider’s stock worth $159,000 after buying an additional 40 shares during the period. Prudential Financial Inc. increased its position in Credit Acceptance by 386.9% in the 3rd quarter. Prudential Financial Inc. now owns 10,823 shares of the credit services provider’s stock worth $3,033,000 after buying an additional 8,600 shares during the period. Bank of New York Mellon Corp increased its position in Credit Acceptance by 9.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 53,826 shares of the credit services provider’s stock worth $15,081,000 after buying an additional 4,613 shares during the period. SG Americas Securities LLC increased its position in Credit Acceptance by 78.6% in the 3rd quarter. SG Americas Securities LLC now owns 1,104 shares of the credit services provider’s stock worth $309,000 after buying an additional 486 shares during the period. Finally, Rational Advisors LLC bought a new position in Credit Acceptance in the 3rd quarter worth approximately $1,180,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of Credit Acceptance stock traded down $8.69 during trading hours on Thursday, hitting $328.27. The stock had a trading volume of 79,658 shares, compared to its average volume of 160,115. Credit Acceptance Corp. has a one year low of $182.50 and a one year high of $377.82. The firm has a market cap of $6,494.16, a price-to-earnings ratio of 13.98, a PEG ratio of 0.71 and a beta of 0.61. The company has a debt-to-equity ratio of 1.99, a current ratio of 24.00 and a quick ratio of 24.00.
Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Tuesday, January 30th. The credit services provider reported $5.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.53 by ($0.37). The company had revenue of $287.30 million during the quarter, compared to analyst estimates of $287.37 million. Credit Acceptance had a net margin of 42.36% and a return on equity of 30.18%. Credit Acceptance’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.79 EPS. equities research analysts anticipate that Credit Acceptance Corp. will post 26.21 EPS for the current fiscal year.
CACC has been the topic of several recent analyst reports. BidaskClub raised Credit Acceptance from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 12th. Stephens set a $257.00 price target on Credit Acceptance and gave the stock a “sell” rating in a research report on Wednesday, January 3rd. Credit Suisse Group reissued a “sell” rating and set a $270.00 price objective on shares of Credit Acceptance in a report on Monday, January 8th. Oppenheimer initiated coverage on Credit Acceptance in a report on Monday, January 8th. They set a “buy” rating and a $355.00 price objective on the stock. Finally, Zacks Investment Research raised Credit Acceptance from a “hold” rating to a “strong-buy” rating and set a $390.00 price objective on the stock in a report on Friday, January 12th. Four analysts have rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $283.22.
In related news, insider Douglas W. Busk sold 1,000 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $319.86, for a total value of $319,860.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Jill Foss Watson sold 18,106 shares of the business’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $326.06, for a total value of $5,903,642.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,924 shares of company stock worth $19,253,640. 5.80% of the stock is owned by insiders.
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About Credit Acceptance
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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