Credit Acceptance Co. (NASDAQ:CACC) Stock Holdings Lifted by Paralel Advisors LLC

Paralel Advisors LLC raised its stake in Credit Acceptance Co. (NASDAQ:CACC) by 10.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,555 shares of the credit services provider’s stock after acquiring an additional 416 shares during the period. Paralel Advisors LLC’s holdings in Credit Acceptance were worth $2,138,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in shares of Credit Acceptance by 15.6% during the fourth quarter. Bank of Montreal Can now owns 3,100 shares of the credit services provider’s stock valued at $1,455,000 after buying an additional 419 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in shares of Credit Acceptance by 245.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 256 shares of the credit services provider’s stock worth $120,000 after buying an additional 182 shares during the period. MIG Capital LLC raised its position in shares of Credit Acceptance by 8.6% in the 4th quarter. MIG Capital LLC now owns 126,467 shares of the credit services provider’s stock valued at $59,371,000 after buying an additional 9,976 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Credit Acceptance by 805.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 27,450 shares of the credit services provider’s stock worth $12,887,000 after purchasing an additional 24,417 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in Credit Acceptance by 6,314.6% during the 4th quarter. National Bank of Canada FI now owns 12,701 shares of the credit services provider’s stock worth $5,963,000 after acquiring an additional 12,503 shares during the last quarter. 81.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CACC has been the topic of several research reports. Stephens upped their price objective on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

Credit Acceptance Stock Down 2.9 %

Shares of CACC stock traded down $14.78 on Thursday, hitting $486.47. The stock had a trading volume of 492 shares, compared to its average volume of 62,113. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 24.95 and a beta of 1.27. The business has a 50 day moving average of $496.92 and a 200 day moving average of $478.33. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $614.96.

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

Insiders Place Their Bets

In other news, insider Douglas W. Busk sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the sale, the insider now owns 3,112 shares of the company’s stock, valued at $1,605,698.64. This trade represents a 49.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicholas J. Elliott sold 300 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $502.00, for a total transaction of $150,600.00. Following the sale, the insider now directly owns 19,385 shares in the company, valued at approximately $9,731,270. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Company 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.