Credit Acceptance Co. (NASDAQ:CACC) Stock Position Raised by Arizona State Retirement System

Arizona State Retirement System lifted its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,972 shares of the credit services provider’s stock after buying an additional 145 shares during the period. Arizona State Retirement System’s holdings in Credit Acceptance were worth $1,051,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CACC. AdvisorNet Financial Inc bought a new stake in shares of Credit Acceptance during the 3rd quarter valued at about $46,000. NewEdge Advisors LLC boosted its stake in Credit Acceptance by 289.7% during the 1st quarter. NewEdge Advisors LLC now owns 113 shares of the credit services provider’s stock valued at $49,000 after purchasing an additional 84 shares during the period. Whittier Trust Co. acquired a new position in Credit Acceptance during the 4th quarter valued at about $74,000. MetLife Investment Management LLC acquired a new position in Credit Acceptance during the 1st quarter valued at about $101,000. Finally, Covestor Ltd boosted its stake in Credit Acceptance by 57.6% during the 1st quarter. Covestor Ltd now owns 227 shares of the credit services provider’s stock valued at $125,000 after purchasing an additional 83 shares during the period. Institutional investors own 81.71% of the company’s stock.

Insider Transactions at Credit Acceptance

In other news, insider Douglas W. Busk sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $572.58, for a total value of $1,431,450.00. Following the completion of the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $1,781,868.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Douglas W. Busk sold 500 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $579.98, for a total transaction of $289,990.00. Following the completion of the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at $1,804,897.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas W. Busk sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $572.58, for a total transaction of $1,431,450.00. Following the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at $1,781,868.96. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Credit Acceptance presently has a consensus rating of “Hold” and a consensus target price of $381.75.

Credit Acceptance Trading Down 1.3 %

Shares of NASDAQ:CACC opened at $547.40 on Tuesday. The company has a 50 day moving average of $552.41 and a 200-day moving average of $502.91. The firm has a market cap of $6.73 billion, a P/E ratio of 24.86 and a beta of 1.45. Credit Acceptance Co. has a twelve month low of $379.77 and a twelve month high of $616.66. The company has a current ratio of 15.71, a quick ratio of 15.71 and a debt-to-equity ratio of 2.84.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $10.06 earnings per share for the quarter, topping analysts’ consensus estimates of $9.17 by $0.89. The company had revenue of $491.60 million during the quarter, compared to analyst estimates of $478.80 million. Credit Acceptance had a net margin of 15.04% and a return on equity of 30.94%. As a group, analysts anticipate that Credit Acceptance Co. will post 40.95 earnings per share for the current fiscal 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.