547 Shares in Credit Acceptance Co. (NASDAQ:CACC) Acquired by Creative Planning

Creative Planning purchased a new stake in Credit Acceptance Co. (NASDAQ:CACC) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 547 shares of the credit services provider’s stock, valued at approximately $282,000.

A number of other large investors also recently made changes to their positions in the business. Lodestone Wealth Management LLC increased its stake in shares of Credit Acceptance by 26.1% during the 1st quarter. Lodestone Wealth Management LLC now owns 1,497 shares of the credit services provider’s stock valued at $826,000 after acquiring an additional 310 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Credit Acceptance by 2.5% during the first quarter. BNP Paribas Financial Markets now owns 4,618 shares of the credit services provider’s stock worth $2,547,000 after purchasing an additional 111 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Credit Acceptance by 27.9% in 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 last quarter. FORA Capital LLC purchased a new stake in shares of Credit Acceptance during the 1st quarter valued at $269,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Credit Acceptance during the 1st quarter worth $2,080,000. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Insider Buying and Selling at Credit Acceptance

In other news, insider Thomas W. Smith sold 1,200 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $451.01, for a total value of $541,212.00. Following the completion of the sale, the insider now owns 74,450 shares of the company’s stock, valued at $33,577,694.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.30% of the stock is currently owned by corporate insiders.

Credit Acceptance Trading Down 0.0 %

NASDAQ CACC opened at $475.35 on Friday. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 24.39 and a beta of 1.42. The company has a debt-to-equity ratio of 3.77, a quick ratio of 19.15 and a current 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 50 day moving average price is $453.09 and its 200 day moving average price is $495.12.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Wednesday, July 31st. The credit services provider reported $10.29 EPS for the quarter, beating analysts’ consensus estimates of $7.20 by $3.09. The business had revenue of $538.20 million for the quarter, compared to the consensus estimate of $525.03 million. Credit Acceptance had a net margin of 9.01% and a return on equity of 30.77%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm posted $10.69 EPS. On average, sell-side analysts predict that Credit Acceptance Co. will post 38.87 EPS for the current year.

Analysts Set New Price Targets

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

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.