First Trust Advisors LP Sells 3,915 Shares of Credit Acceptance Co. (NASDAQ:CACC)

First Trust Advisors LP decreased its holdings in Credit Acceptance Co. (NASDAQ:CACC – Get Rating) by 10.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,801 shares of the credit services provider’s stock after selling 3,915 shares during the period. First Trust Advisors LP owned about 0.27% of Credit Acceptance worth $16,510,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in Credit Acceptance by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 173,421 shares of the credit services provider’s stock valued at $95,443,000 after buying an additional 3,402 shares during the period. State Street Corp grew its position in shares of Credit Acceptance by 2.9% in the first quarter. State Street Corp now owns 125,715 shares of the credit services provider’s stock valued at $69,190,000 after purchasing an additional 3,525 shares during the last quarter. BloombergSen Inc. grew its position in shares of Credit Acceptance by 15.1% in the third quarter. BloombergSen Inc. now owns 94,861 shares of the credit services provider’s stock valued at $41,549,000 after purchasing an additional 12,478 shares during the last quarter. Northern Trust Corp grew its position in shares of Credit Acceptance by 27.8% in the first quarter. Northern Trust Corp now owns 48,871 shares of the credit services provider’s stock valued at $26,897,000 after purchasing an additional 10,634 shares during the last quarter. Finally, FMR LLC grew its position in shares of Credit Acceptance by 1.8% in the second quarter. FMR LLC now owns 42,812 shares of the credit services provider’s stock valued at $20,268,000 after purchasing an additional 740 shares during the last quarter. Institutional investors own 63.11% of the company’s stock.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, insider Thomas W. Smith sold 500 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $450.12, for a total value of $225,060.00. Following the sale, the insider now owns 76,050 shares of the company’s stock, valued at approximately $34,231,626. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Credit Acceptance news, insider Thomas W. Smith sold 500 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $450.12, for a total value of $225,060.00. Following the sale, the insider now owns 76,050 shares of the company’s stock, valued at approximately $34,231,626. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Andrew K. Rostami sold 461 shares of the stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $500.00, for a total value of $230,500.00. Following the completion of the transaction, the insider now owns 7,115 shares of the company’s stock, valued at $3,557,500. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CACC. BMO Capital Markets upped their target price on Credit Acceptance from $360.00 to $380.00 and gave the company a “market perform” rating in a research report on Wednesday, February 1st. StockNews.com initiated coverage on Credit Acceptance in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Stephens reduced their price target on Credit Acceptance from $442.00 to $440.00 in a research report on Tuesday, May 2nd. Finally, Credit Suisse Group reduced their price target on Credit Acceptance from $400.00 to $380.00 in a research report on Tuesday, May 2nd.

Credit Acceptance Trading Up 2.0 %

Shares of CACC stock opened at $443.84 on Tuesday. The stock’s fifty day moving average price is $442.74 and its two-hundred day moving average price is $451.43. The company has a market cap of $5.70 billion, a PE ratio of 14.04 and a beta of 1.32. Credit Acceptance Co. has a fifty-two week low of $358.00 and a fifty-two week high of $617.44. The company has a debt-to-equity ratio of 2.65, a quick ratio of 17.48 and a current ratio of 17.48.

Credit Acceptance (NASDAQ:CACC – Get Rating) last issued its earnings results on Monday, May 1st. The credit services provider reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $12.27 by ($2.56). The business had revenue of $453.80 million during the quarter, compared to analyst estimates of $458.12 million. Credit Acceptance had a net margin of 23.00% and a return on equity of 40.26%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $13.76 EPS. Equities analysts predict that Credit Acceptance Co. will post 45.1 EPS for the current fiscal year.

Credit Acceptance Profile

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Credit Acceptance Corp. engages in the provision of dealer financing programs that enables automobile dealers to sell vehicles to consumers, regardless of its credit history. Its financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers.