Greenline Partners LLC Increases Holdings in Credit Acceptance Co. (NASDAQ:CACC)

Greenline Partners LLC increased its stake in Credit Acceptance Co. (NASDAQ:CACC) by 16.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,157 shares of the credit services provider’s stock after acquiring an additional 1,698 shares during the period. Greenline Partners LLC’s holdings in Credit Acceptance were worth $5,707,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new position in shares of Credit Acceptance in the 4th quarter worth approximately $28,000. US Bancorp DE lifted its position in Credit Acceptance by 50.4% in the fourth quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock worth $84,000 after buying an additional 60 shares during the last quarter. Xponance Inc. boosted its stake in Credit Acceptance by 10.4% during the fourth quarter. Xponance Inc. now owns 730 shares of the credit services provider’s stock worth $343,000 after buying an additional 69 shares during the period. Corient Private Wealth LLC increased its position in Credit Acceptance by 7.2% during the fourth quarter. Corient Private Wealth LLC now owns 1,030 shares of the credit services provider’s stock valued at $484,000 after acquiring an additional 69 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in shares of Credit Acceptance by 2.7% in the fourth quarter. Wedge Capital Management L L P NC now owns 2,687 shares of the credit services provider’s stock valued at $1,261,000 after acquiring an additional 70 shares during the period. 81.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Stephens lifted their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st.

Insider Transactions at Credit Acceptance

In other Credit Acceptance 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 transaction, the insider now owns 3,112 shares of the company’s stock, valued at approximately $1,605,698.64. This trade represents a 49.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas J. Elliott sold 300 shares of the company’s 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 completion of the sale, the insider now directly owns 19,385 shares of the company’s stock, valued at $9,731,270. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

Credit Acceptance Stock Performance

CACC stock opened at $490.64 on Friday. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 24.70 and a beta of 1.23. The business’s fifty day simple moving average is $487.94 and its two-hundred day simple moving average is $482.52. 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 results on Wednesday, April 30th. The credit services provider reported $9.35 EPS for the quarter, missing the consensus estimate of $10.31 by ($0.96). The company had revenue of $571.10 million during the quarter, compared to analysts’ expectations of $570.25 million. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business earned $9.28 EPS. Analysts predict that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

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.