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

Cerity Partners LLC decreased its position in shares of Credit Acceptance Co. (NASDAQ:CACC) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 796,373 shares of the credit services provider’s stock after selling 1,668 shares during the quarter. Credit Acceptance makes up about 0.8% of Cerity Partners LLC’s portfolio, making the stock its 22nd biggest holding. Cerity Partners LLC owned approximately 6.58% of Credit Acceptance worth $373,864,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Eagle Bay Advisors LLC acquired a new position in Credit Acceptance in the 4th quarter valued at about $28,000. First Horizon Advisors Inc. acquired a new position in Credit Acceptance in the fourth quarter valued at approximately $34,000. TD Private Client Wealth LLC acquired a new position in Credit Acceptance in the fourth quarter valued at approximately $37,000. Farther Finance Advisors LLC purchased a new position in Credit Acceptance in the fourth quarter worth approximately $38,000. Finally, US Bancorp DE increased its stake in Credit Acceptance by 50.4% during the fourth quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock worth $84,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Credit Acceptance Stock Down 7.1 %

Shares of NASDAQ CACC opened at $461.44 on Monday. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $614.96. The business’s 50 day moving average is $500.77 and its two-hundred day moving average is $477.80. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 23.23 and a beta of 1.27. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63.

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total value of $1,547,910.00. Following the completion of the transaction, the insider now owns 3,112 shares in the company, valued at approximately $1,605,698.64. The trade was a 49.08 % decrease in their ownership of the stock. The sale 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 that occurred on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total transaction of $150,600.00. Following the sale, the insider now owns 19,385 shares in the company, valued at approximately $9,731,270. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

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.