Credit Acceptance Co. (NASDAQ:CACC) Position Lowered by Lodestone Wealth Management LLC

Lodestone Wealth Management LLC decreased its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 6.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,373 shares of the credit services provider’s stock after selling 101 shares during the quarter. Lodestone Wealth Management LLC’s holdings in Credit Acceptance were worth $645,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Abrams Bison Investments LLC lifted its holdings 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 worth $101,235,000 after acquiring an additional 53,306 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Credit Acceptance by 24.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,051 shares of the credit services provider’s stock worth $41,704,000 after acquiring an additional 18,530 shares during the last quarter. MIG Capital LLC lifted its holdings in Credit Acceptance by 18.7% in the third quarter. MIG Capital LLC now owns 116,491 shares of the credit services provider’s stock worth $51,654,000 after acquiring an additional 18,351 shares during the last quarter. Smead Capital Management Inc. lifted its holdings in Credit Acceptance by 3.5% in the third quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider’s stock worth $92,155,000 after acquiring an additional 7,012 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in Credit Acceptance in the third quarter worth about $3,020,000. Institutional investors own 81.71% of the company’s stock.

Insider Activity

In related news, COO Jonathan Lum sold 552 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total transaction of $270,424.80. Following the transaction, the chief operating officer now owns 31,493 shares in the company, valued at $15,428,420.70. This trade represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.30% of the company’s stock.

Credit Acceptance Stock Performance

CACC opened at $520.61 on Friday. The business’s 50 day moving average is $488.41 and its 200-day moving average is $470.06. The stock has a market cap of $6.30 billion, a PE ratio of 26.21 and a beta of 1.47. The company has a current ratio of 23.63, a quick 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 $614.96.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, beating analysts’ consensus estimates of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.60% and a net margin of 11.46%. On average, analysts predict that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Stephens raised their target price on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Finally, TD Cowen cut their target price on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a report on Friday, November 1st.

Credit Acceptance 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.