Dimensional Fund Advisors LP Boosts Position in Credit Acceptance Co. (NASDAQ:CACC)

Dimensional Fund Advisors LP boosted its position in Credit Acceptance Co. (NASDAQ:CACC) by 4.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 179,655 shares of the credit services provider’s stock after purchasing an additional 7,064 shares during the period. Dimensional Fund Advisors LP’s holdings in Credit Acceptance were worth $92,455,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CACC. Headlands Technologies LLC boosted its holdings in shares of Credit Acceptance by 24,850.0% in the second quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock worth $257,000 after buying an additional 497 shares during the last quarter. Rhumbline Advisers raised its position in Credit Acceptance by 10.1% in the second quarter. Rhumbline Advisers now owns 9,235 shares of the credit services provider’s stock worth $4,753,000 after acquiring an additional 844 shares during the period. nVerses Capital LLC purchased a new position in shares of Credit Acceptance during the 2nd quarter worth $51,000. UMB Bank n.a. grew its position in shares of Credit Acceptance by 4.6% during the 2nd quarter. UMB Bank n.a. now owns 654 shares of the credit services provider’s stock valued at $337,000 after acquiring an additional 29 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Credit Acceptance by 47.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,110 shares of the credit services provider’s stock worth $571,000 after purchasing an additional 359 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Thomas W. Smith sold 1,200 shares of Credit Acceptance stock in a transaction that occurred 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 sale, the insider now owns 74,450 shares in the company, valued at $33,577,694.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. 5.30% of the stock is currently owned by corporate insiders.

Credit Acceptance Stock Down 1.6 %

Shares of CACC stock opened at $447.62 on Wednesday. The company has a debt-to-equity ratio of 3.77, a current ratio of 19.15 and a quick ratio of 19.15. Credit Acceptance Co. has a one year low of $379.77 and a one year high of $616.66. The company’s fifty day moving average price is $482.99 and its 200-day moving average price is $507.16. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 22.97 and a beta of 1.42.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $10.29 EPS for the quarter, beating the consensus estimate of $7.20 by $3.09. Credit Acceptance had a return on equity of 30.77% and a net margin of 9.01%. The business had revenue of $538.20 million for the quarter, compared to the consensus estimate of $525.03 million. During the same period in the previous year, the business earned $10.69 earnings per share. The business’s revenue was up 12.6% on a year-over-year basis. Sell-side analysts expect that Credit Acceptance Co. will post 38.87 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, TD Cowen cut their price target on Credit Acceptance from $440.00 to $400.00 and set a “sell” rating for the company in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $395.67.

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.