Coastal Investment Advisors Inc. boosted its holdings in Credit Acceptance Corp. (NASDAQ:CACC) by 13.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 781 shares of the credit services provider’s stock after buying an additional 93 shares during the quarter. Coastal Investment Advisors Inc.’s holdings in Credit Acceptance were worth $360,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Campbell & CO Investment Adviser LLC boosted its stake in Credit Acceptance by 7.6% in the second quarter. Campbell & CO Investment Adviser LLC now owns 624 shares of the credit services provider’s stock valued at $302,000 after acquiring an additional 44 shares in the last quarter. AGF Investments LLC boosted its stake in shares of Credit Acceptance by 1.1% during the second quarter. AGF Investments LLC now owns 4,122 shares of the credit services provider’s stock worth $1,994,000 after buying an additional 45 shares during the period. Hanson & Doremus Investment Management acquired a new stake in shares of Credit Acceptance during the second quarter worth about $26,000. Eqis Capital Management Inc. boosted its stake in shares of Credit Acceptance by 2.3% during the second quarter. Eqis Capital Management Inc. now owns 2,844 shares of the credit services provider’s stock worth $1,376,000 after buying an additional 63 shares during the period. Finally, Meeder Asset Management Inc. boosted its stake in shares of Credit Acceptance by 13.3% during the second quarter. Meeder Asset Management Inc. now owns 547 shares of the credit services provider’s stock worth $266,000 after buying an additional 64 shares during the period. 60.32% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ CACC opened at $464.40 on Monday. The stock has a market capitalization of $8.72 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.34 and a beta of 0.75. Credit Acceptance Corp. has a 52-week low of $356.12 and a 52-week high of $509.99. The firm has a 50-day moving average price of $461.94 and a 200 day moving average price of $472.00. The company has a quick ratio of 28.16, a current ratio of 28.16 and a debt-to-equity ratio of 1.89.
Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $8.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.52 by $0.08. The firm had revenue of $370.60 million during the quarter, compared to analysts’ expectations of $363.38 million. Credit Acceptance had a net margin of 45.15% and a return on equity of 30.02%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the company posted $6.95 earnings per share. On average, equities research analysts expect that Credit Acceptance Corp. will post 34.67 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on CACC. ValuEngine downgraded shares of Credit Acceptance from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. BidaskClub upgraded shares of Credit Acceptance from a “sell” rating to a “hold” rating in a research note on Saturday, October 12th. Credit Suisse Group set a $380.00 target price on shares of Credit Acceptance and gave the stock an “underperform” rating in a research note on Wednesday, July 31st. BTIG Research reiterated a “sell” rating and set a $340.00 target price on shares of Credit Acceptance in a research note on Wednesday, July 31st. Finally, BMO Capital Markets increased their target price on shares of Credit Acceptance to $484.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Credit Acceptance presently has an average rating of “Hold” and an average target price of $441.00.
Credit Acceptance Company Profile
Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.
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