Strs Ohio Makes New $894,000 Investment in Credit Acceptance Co. (NASDAQ:CACC)

Strs Ohio bought a new stake in Credit Acceptance Co. (NASDAQ:CACC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,679 shares of the credit services provider’s stock, valued at approximately $894,000.

Several other hedge funds also recently made changes to their positions in CACC. Whittier Trust Co. purchased a new stake in Credit Acceptance in the fourth quarter worth about $74,000. Harbor Capital Advisors Inc. grew its stake in shares of Credit Acceptance by 15.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 338 shares of the credit services provider’s stock worth $180,000 after buying an additional 46 shares during the last quarter. Handelsinvest Investeringsforvaltning bought a new position in Credit Acceptance during the 4th quarter valued at approximately $261,000. PFG Investments LLC purchased a new position in Credit Acceptance during the third quarter valued at $276,000. Finally, Versor Investments LP bought a new stake in Credit Acceptance in the third quarter worth $280,000. 81.71% of the stock is currently owned by institutional investors.

Credit Acceptance Stock Performance

CACC stock opened at $522.22 on Thursday. The stock’s 50 day simple moving average is $549.48 and its 200 day simple moving average is $506.67. 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 Co. has a 12-month low of $379.77 and a 12-month high of $616.66. The stock has a market capitalization of $6.42 billion, a PE ratio of 23.72 and a beta of 1.45.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $381.75.

Insider Activity

In other news, insider Douglas W. Busk sold 2,500 shares of the business’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 transaction of $1,431,450.00. Following the completion of the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at $1,781,868.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Credit Acceptance news, insider Douglas W. Busk sold 500 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $579.98, for a total value of $289,990.00. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at $1,804,897.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas W. Busk sold 2,500 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 3,112 shares of the company’s stock, valued at $1,781,868.96. The disclosure for this sale can be found here. Insiders own 4.20% 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.