LRT Capital Management LLC Buys 662 Shares of Credit Acceptance Co. (NASDAQ:CACC)

LRT Capital Management LLC increased its stake in Credit Acceptance Co. (NASDAQ:CACC) by 30.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,871 shares of the credit services provider’s stock after purchasing an additional 662 shares during the quarter. LRT Capital Management LLC’s holdings in Credit Acceptance were worth $1,348,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gamco Investors INC. ET AL increased its position in Credit Acceptance by 5.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 2,185 shares of the credit services provider’s stock worth $1,026,000 after buying an additional 110 shares during the last quarter. Bridgewater Associates LP boosted its stake in shares of Credit Acceptance by 268.2% during the 4th quarter. Bridgewater Associates LP now owns 8,354 shares of the credit services provider’s stock worth $3,922,000 after acquiring an additional 6,085 shares during the period. Park Avenue Securities LLC acquired a new position in shares of Credit Acceptance during the 4th quarter worth approximately $680,000. Corient Private Wealth LLC raised its stake in Credit Acceptance by 7.2% in the 4th 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 period. Finally, HighTower Advisors LLC lifted its holdings in Credit Acceptance by 67.6% during the 4th quarter. HighTower Advisors LLC now owns 997 shares of the credit services provider’s stock valued at $468,000 after purchasing an additional 402 shares during the last quarter. 81.71% of the stock is owned by institutional investors.

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 company an “equal weight” rating in a report on Friday, January 31st. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

Credit Acceptance Stock Performance

Shares of NASDAQ CACC opened at $490.64 on Monday. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. 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 stock’s fifty day moving average price is $487.94 and its two-hundred day moving average price is $482.59. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $614.96.

Credit Acceptance (NASDAQ:CACC) last released 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). Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. The business had revenue of $571.10 million during the quarter, compared to analyst estimates of $570.25 million. During the same quarter last year, the company posted $9.28 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. On average, equities analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current year.

Insider Buying and Selling at Credit Acceptance

In related news, 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 of the company’s stock, valued at $9,731,270. This represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas W. Busk sold 3,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total value of $1,547,910.00. Following the transaction, the insider now owns 3,112 shares in the company, valued at approximately $1,605,698.64. This trade represents a 49.08% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

About Credit Acceptance

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.