UMB Bank n.a. Has $349,000 Position in Credit Acceptance Co. (NASDAQ:CACC)

UMB Bank n.a. boosted its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC) by 10.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 743 shares of the credit services provider’s stock after buying an additional 72 shares during the quarter. UMB Bank n.a.’s holdings in Credit Acceptance were worth $349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CACC. Wedge Capital Management L L P NC grew its stake in shares of Credit Acceptance by 2.7% during the fourth quarter. Wedge Capital Management L L P NC now owns 2,687 shares of the credit services provider’s stock worth $1,261,000 after purchasing an additional 70 shares during the period. Park Avenue Securities LLC bought a new position in Credit Acceptance during the fourth quarter worth about $680,000. Eagle Bay Advisors LLC acquired a new position in shares of Credit Acceptance during the 4th quarter worth about $28,000. JPMorgan Chase & Co. increased its stake in shares of Credit Acceptance by 3.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,082 shares of the credit services provider’s stock valued at $1,810,000 after acquiring an additional 118 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Credit Acceptance in the 3rd quarter valued at approximately $3,020,000. Institutional investors own 81.71% of the company’s stock.

Credit Acceptance Stock Up 1.8 %

Credit Acceptance stock opened at $505.29 on Thursday. The company has a 50 day moving average of $473.29 and a 200-day moving average of $475.55. The company has a quick ratio of 23.63, a current 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 $616.66. The stock has a market capitalization of $6.12 billion, a PE ratio of 33.93 and a beta of 1.46.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.88 by $0.91. The firm had revenue of $550.30 million during the quarter, compared to analysts’ expectations of $548.13 million. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.70 EPS. On average, equities research analysts anticipate that Credit Acceptance Co. will post 36.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CACC has been the subject of a number of analyst reports. StockNews.com cut shares of Credit Acceptance from a “buy” rating to a “hold” rating in a report on Thursday. TD Cowen lowered their price objective on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a research report on Friday, November 1st. Finally, Stephens started coverage on Credit Acceptance in a report on Wednesday, November 13th. They set an “equal weight” rating and a $452.00 target price on the stock.

Insider Buying and Selling

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of Credit Acceptance stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total value of $270,424.80. Following the sale, the chief operating officer now directly owns 31,493 shares in the company, valued at approximately $15,428,420.70. The trade was a 1.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.30% of the stock is owned by corporate insiders.

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.