Credit Acceptance Co. (NASDAQ:CACC) Shares Purchased by Quantum Capital Management LLC NJ

Quantum Capital Management LLC NJ boosted its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 55.9% in the fourth quarter, Holdings Channel reports. The fund owned 52,896 shares of the credit services provider’s stock after purchasing an additional 18,960 shares during the period. Credit Acceptance accounts for about 3.3% of Quantum Capital Management LLC NJ’s portfolio, making the stock its 13th biggest position. Quantum Capital Management LLC NJ’s holdings in Credit Acceptance were worth $28,179,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CACC. Whittier Trust Co. acquired a new position in Credit Acceptance in the 4th quarter valued at $74,000. National Bank of Canada FI boosted its holdings in shares of Credit Acceptance by 242.3% in the fourth quarter. National Bank of Canada FI now owns 243 shares of the credit services provider’s stock valued at $131,000 after acquiring an additional 172 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Credit Acceptance by 15.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 338 shares of the credit services provider’s stock worth $180,000 after acquiring an additional 46 shares during the period. Panagora Asset Management Inc. purchased a new position in Credit Acceptance during the fourth quarter worth about $210,000. Finally, Beacon Pointe Advisors LLC acquired a new stake in Credit Acceptance in the fourth quarter valued at about $211,000. Institutional investors and hedge funds own 81.71% of the company’s stock.

Credit Acceptance Price Performance

CACC traded up $5.28 on Friday, hitting $481.29. 25,259 shares of the company were exchanged, compared to its average volume of 52,467. Credit Acceptance Co. has a fifty-two week low of $379.77 and a fifty-two week high of $616.66. The company has a debt-to-equity ratio of 3.29, a quick ratio of 13.79 and a current ratio of 13.79. The firm has a market capitalization of $5.83 billion, a P/E ratio of 24.69 and a beta of 1.44. The business’s fifty day moving average is $529.14 and its 200 day moving average is $519.99.

Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Tuesday, April 30th. The credit services provider reported $9.28 EPS for the quarter, topping analysts’ consensus estimates of $6.81 by $2.47. Credit Acceptance had a return on equity of 30.70% and a net margin of 12.83%. The company had revenue of $508.00 million for the quarter, compared to the consensus estimate of $497.71 million. During the same period in the previous year, the business earned $9.71 earnings per share. Credit Acceptance’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Credit Acceptance Co. will post 42.37 EPS for the current year.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, 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 transaction of $1,431,450.00. Following the completion of the transaction, the insider now owns 3,112 shares in the company, valued at $1,781,868.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CACC has been the topic of several recent analyst reports. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. TD Cowen dropped their price objective on Credit Acceptance from $465.00 to $420.00 and set a “sell” rating on the stock in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $402.33.

About Credit Acceptance

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.