Cantillon Capital Management LLC Cuts Stock Position in Credit Acceptance Co. (NASDAQ:CACC)

Cantillon Capital Management LLC trimmed its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,057 shares of the credit services provider’s stock after selling 6,887 shares during the period. Cantillon Capital Management LLC’s holdings in Credit Acceptance were worth $100,682,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its stake in Credit Acceptance by 27.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 573 shares of the credit services provider’s stock valued at $316,000 after purchasing an additional 125 shares during the period. Russell Investments Group Ltd. raised its position in shares of Credit Acceptance by 821.9% during the first quarter. Russell Investments Group Ltd. now owns 3,282 shares of the credit services provider’s stock valued at $1,810,000 after buying an additional 2,926 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Credit Acceptance in the first quarter worth $1,494,000. CANADA LIFE ASSURANCE Co boosted its position in shares of Credit Acceptance by 3.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,161 shares of the credit services provider’s stock worth $1,191,000 after acquiring an additional 72 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Credit Acceptance during the first quarter valued at $156,000. Institutional investors own 81.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on CACC shares. Stephens initiated coverage on shares of Credit Acceptance in a research note on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price target on the stock. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, TD Cowen cut their price target on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a report on Friday, November 1st.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, insider Thomas W. Smith sold 1,200 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $451.01, for a total transaction of $541,212.00. Following the transaction, the insider now owns 74,450 shares in the company, valued at $33,577,694.50. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.30% of the stock is currently owned by insiders.

Credit Acceptance Stock Performance

Credit Acceptance stock opened at $445.96 on Tuesday. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $616.66. The company’s 50-day moving average price is $449.16 and its 200-day moving average price is $482.84. The company has a market cap of $5.40 billion, a PE ratio of 29.95 and a beta of 1.42.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, topping the consensus estimate of $7.88 by $0.91. The company had revenue of $550.30 million for the quarter, compared to analysts’ expectations of $548.13 million. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted $10.70 earnings per share. On average, equities research analysts forecast that Credit Acceptance Co. will post 37.14 EPS for the current fiscal year.

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.