1,449 Shares in Credit Acceptance Co. (NASDAQ:CACC) Bought by Park Avenue Securities LLC

Park Avenue Securities LLC bought a new stake in Credit Acceptance Co. (NASDAQ:CACC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,449 shares of the credit services provider’s stock, valued at approximately $680,000.

Several other hedge funds have also recently added to or reduced their stakes in CACC. Eagle Bay Advisors LLC acquired a new position in shares of Credit Acceptance in the 4th quarter valued at $28,000. Quest Partners LLC lifted its holdings in Credit Acceptance by 11,900.0% during the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after acquiring an additional 119 shares in the last quarter. nVerses Capital LLC grew its stake in Credit Acceptance by 200.0% in the third quarter. nVerses Capital LLC now owns 300 shares of the credit services provider’s stock valued at $133,000 after acquiring an additional 200 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Credit Acceptance in the third quarter worth about $177,000. Finally, Kovitz Investment Group Partners LLC acquired a new stake in shares of Credit Acceptance during the third quarter worth about $245,000. Institutional investors and hedge funds own 81.71% of the company’s stock.

Insider Transactions at Credit Acceptance

In other news, COO Jonathan Lum sold 552 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total transaction of $270,424.80. Following the sale, the chief operating officer now owns 31,493 shares in the company, valued at $15,428,420.70. This represents a 1.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.30% of the company’s stock.

Analysts Set New Price Targets

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

Credit Acceptance Trading Up 1.8 %

NASDAQ CACC opened at $505.29 on Thursday. Credit Acceptance Co. has a 52 week low of $409.22 and a 52 week high of $616.66. The company has a debt-to-equity ratio of 3.79, a quick ratio of 23.63 and a current ratio of 23.63. The stock’s 50 day moving average price is $473.29 and its two-hundred day moving average price is $475.55. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 33.93 and a beta of 1.46.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, topping analysts’ consensus estimates of $7.88 by $0.91. The business had revenue of $550.30 million for the quarter, compared to analyst estimates of $548.13 million. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.70 earnings per share. As a group, analysts anticipate that Credit Acceptance Co. will post 36.53 earnings per share 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.