Xponance Inc. Increases Stock Holdings in Credit Acceptance Co. (NASDAQ:CACC)

Xponance Inc. lifted its stake in shares of 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. The fund 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 reporting period.

Other large investors have also modified their holdings of the company. Abrams Bison Investments LLC lifted its position in Credit Acceptance by 30.5% in the third quarter. Abrams Bison Investments LLC now owns 228,306 shares of the credit services provider’s stock valued at $101,235,000 after acquiring an additional 53,306 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of Credit Acceptance during the fourth quarter worth about $18,146,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Credit Acceptance by 24.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,051 shares of the credit services provider’s stock valued at $41,704,000 after purchasing an additional 18,530 shares during the last quarter. MIG Capital LLC boosted its position in shares of Credit Acceptance by 18.7% in the 3rd quarter. MIG Capital LLC now owns 116,491 shares of the credit services provider’s stock valued at $51,654,000 after purchasing an additional 18,351 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new position in Credit Acceptance during the 3rd quarter worth approximately $3,020,000. Institutional investors and hedge funds own 81.71% of the company’s stock.

Credit Acceptance Stock Performance

Shares of CACC stock opened at $510.96 on Friday. The stock has a fifty day moving average price of $500.34 and a 200 day moving average price of $474.17. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. The stock has a market cap of $6.15 billion, a PE ratio of 25.73 and a beta of 1.51. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $614.96.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CACC. Stephens boosted their price objective on Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st.

Insider Activity

In related news, insider Nicholas J. Elliott sold 300 shares of the 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 owns 19,385 shares of the company’s stock, valued at $9,731,270. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas W. Busk sold 3,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at $1,605,698.64. The trade was a 49.08 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.

Credit Acceptance Company 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.