Universal Beteiligungs und Servicegesellschaft mbH Buys 3,400 Shares of Credit Acceptance Corporation $CACC

Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Credit Acceptance Corporation (NASDAQ:CACC) by 16.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 23,575 shares of the credit services provider’s stock after buying an additional 3,400 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Credit Acceptance were worth $11,008,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Envestnet Asset Management Inc. grew its holdings in shares of Credit Acceptance by 6.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 32,407 shares of the credit services provider’s stock worth $16,509,000 after acquiring an additional 2,056 shares during the period. SG Americas Securities LLC boosted its position in shares of Credit Acceptance by 430.3% during the third quarter. SG Americas Securities LLC now owns 2,418 shares of the credit services provider’s stock valued at $1,129,000 after purchasing an additional 1,962 shares in the last quarter. KLP Kapitalforvaltning AS grew its stake in Credit Acceptance by 7.7% in the second quarter. KLP Kapitalforvaltning AS now owns 1,400 shares of the credit services provider’s stock worth $713,000 after purchasing an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Credit Acceptance by 9.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 818 shares of the credit services provider’s stock worth $417,000 after purchasing an additional 73 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new position in Credit Acceptance in the second quarter worth $438,000. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. TD Cowen raised shares of Credit Acceptance from a “sell” rating to a “hold” rating in a research report on Thursday, January 8th. Weiss Ratings restated a “hold (c)” rating on shares of Credit Acceptance in a report on Wednesday. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $480.00.

Credit Acceptance Trading Up 0.3%

NASDAQ CACC opened at $445.42 on Friday. Credit Acceptance Corporation has a 12 month low of $401.90 and a 12 month high of $560.00. The company has a current ratio of 15.81, a quick ratio of 15.81 and a debt-to-equity ratio of 3.94. The stock’s fifty day moving average price is $455.87 and its 200-day moving average price is $476.82. The stock has a market cap of $4.91 billion, a P/E ratio of 11.79 and a beta of 1.24.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Thursday, October 30th. The credit services provider reported $10.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.61 by $0.67. Credit Acceptance had a net margin of 19.70% and a return on equity of 27.88%. The company had revenue of $405.10 million for the quarter, compared to analysts’ expectations of $592.19 million. During the same quarter in the previous year, the business posted $9.25 EPS. Credit Acceptance’s revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts forecast that Credit Acceptance Corporation will post 53.24 EPS for the current fiscal year.

About Credit Acceptance

Credit Acceptance Corporation, founded in 1972 and headquartered in Southfield, Michigan, is a specialty finance company focused on the indirect automotive lending market. The company partners with independent and franchised auto dealers to facilitate purchase financing for consumers who may not qualify for traditional prime auto loans. By purchasing retail installment contracts originated by these dealers, Credit Acceptance provides capital and credit insurance to support vehicle sales, enabling dealers to broaden their customer base and reduce credit risk.

Through its proprietary underwriting platform and risk management strategies, Credit Acceptance evaluates borrower applications, structures credit plans, and retains servicing rights on the acquired contracts.