Impact Partnership Wealth LLC Makes New $441,000 Investment in Credit Acceptance Corporation $CACC

Impact Partnership Wealth LLC acquired a new position in Credit Acceptance Corporation (NASDAQ:CACC) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 995 shares of the credit services provider’s stock, valued at approximately $441,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. M&T Bank Corp acquired a new stake in Credit Acceptance in the 4th quarter worth about $208,294,000. Boston Partners acquired a new stake in Credit Acceptance in the 3rd quarter worth about $206,327,000. Smead Capital Management Inc. raised its stake in Credit Acceptance by 17.0% in the 2nd quarter. Smead Capital Management Inc. now owns 216,811 shares of the credit services provider’s stock worth $110,450,000 after purchasing an additional 31,438 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Credit Acceptance by 764.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 203,879 shares of the credit services provider’s stock worth $91,652,000 after purchasing an additional 180,304 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Credit Acceptance by 4.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 203,861 shares of the credit services provider’s stock worth $95,171,000 after purchasing an additional 8,573 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Stephens boosted their target price on shares of Credit Acceptance from $450.00 to $540.00 and gave the company an “equal weight” rating in a research report on Friday, April 17th. Weiss Ratings upgraded shares of Credit Acceptance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 8th. TD Cowen boosted their target price on shares of Credit Acceptance from $450.00 to $500.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Finally, Zacks Research cut shares of Credit Acceptance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Credit Acceptance has a consensus rating of “Hold” and an average target price of $520.00.

Insider Buying and Selling

In related news, major shareholder Jill Foss Watson sold 9,450 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $538.52, for a total transaction of $5,089,014.00. Following the completion of the transaction, the insider directly owned 92,107 shares in the company, valued at $49,601,461.64. This represents a 9.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Ravi Mohan Valiyaveettil sold 1,262 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $550.00, for a total transaction of $694,100.00. Following the transaction, the chief technology officer owned 25,985 shares of the company’s stock, valued at approximately $14,291,750. This represents a 4.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 26,527 shares of company stock worth $14,203,265 in the last quarter. Corporate insiders own 6.10% of the company’s stock.

Credit Acceptance Price Performance

Shares of NASDAQ:CACC opened at $573.64 on Friday. The firm has a 50 day moving average of $498.44 and a 200-day moving average of $478.11. The stock has a market capitalization of $6.00 billion, a PE ratio of 14.26 and a beta of 1.36. The company has a current ratio of 13.62, a quick ratio of 13.62 and a debt-to-equity ratio of 4.09. Credit Acceptance Corporation has a 12 month low of $401.90 and a 12 month high of $579.80.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Tuesday, May 5th. The credit services provider reported $10.71 EPS for the quarter, missing the consensus estimate of $10.73 by ($0.02). The business had revenue of $406.00 million for the quarter, compared to analyst estimates of $580.77 million. Credit Acceptance had a return on equity of 29.95% and a net margin of 19.49%.The firm’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.35 EPS. On average, equities research analysts predict that Credit Acceptance Corporation will post 47.5 EPS for the current fiscal year.

Credit Acceptance Profile

Credit Acceptance Corporation, founded in 1972 and headquartered in Southfield, Michigan, is a specialty finance company focused on the indirect automotive lending market. The company partners with independent and franchised auto dealers to facilitate purchase financing for consumers who may not qualify for traditional prime auto loans. By purchasing retail installment contracts originated by these dealers, Credit Acceptance provides capital and credit insurance to support vehicle sales, enabling dealers to broaden their customer base and reduce credit risk.

Through its proprietary underwriting platform and risk management strategies, Credit Acceptance evaluates borrower applications, structures credit plans, and retains servicing rights on the acquired contracts.