Credit Acceptance Co. (NASDAQ:CACC) Shares Sold by Cerity Partners LLC

Cerity Partners LLC cut its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 0.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 796,373 shares of the credit services provider’s stock after selling 1,668 shares during the period. Credit Acceptance makes up about 0.8% of Cerity Partners LLC’s holdings, making the stock its 22nd largest position. Cerity Partners LLC owned approximately 0.07% of Credit Acceptance worth $373,864,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Park Avenue Securities LLC acquired a new stake in shares of Credit Acceptance during the 4th quarter worth about $680,000. Geode Capital Management LLC increased its stake in Credit Acceptance by 2.3% in the third quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider’s stock valued at $49,401,000 after purchasing an additional 2,522 shares during the last quarter. Corient Private Wealth LLC raised its holdings in Credit Acceptance by 7.2% during the fourth quarter. Corient Private Wealth LLC now owns 1,030 shares of the credit services provider’s stock worth $484,000 after purchasing an additional 69 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Credit Acceptance during the 4th quarter worth approximately $18,146,000. Finally, HighTower Advisors LLC boosted its holdings in shares of Credit Acceptance by 67.6% in the 4th quarter. HighTower Advisors LLC now owns 997 shares of the credit services provider’s stock valued at $468,000 after buying an additional 402 shares in the last quarter. 81.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Credit Acceptance

In other news, insider Douglas W. Busk sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total value of $1,547,910.00. Following the transaction, the insider now owns 3,112 shares of the company’s stock, valued at approximately $1,605,698.64. The trade was a 49.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $150,600.00. Following the sale, the insider now directly owns 19,385 shares of the company’s stock, valued at approximately $9,731,270. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Credit Acceptance Stock Performance

Shares of Credit Acceptance stock opened at $461.44 on Monday. The firm’s fifty day simple moving average is $500.77 and its 200-day simple moving average is $477.80. Credit Acceptance Co. has a 12 month low of $409.22 and a 12 month high of $614.96. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 23.23 and a beta of 1.27. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CACC shares. Stephens lifted their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st.

About Credit Acceptance

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.