New York Life Investment Management LLC Takes $513,000 Position in Credit Acceptance Co. (NASDAQ:CACC)

New York Life Investment Management LLC acquired a new position in Credit Acceptance Co. (NASDAQ:CACC) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 963 shares of the credit services provider’s stock, valued at approximately $513,000.

Several other large investors have also recently added to or reduced their stakes in the business. Realta Investment Advisors grew its position in Credit Acceptance by 2.4% in the 4th quarter. Realta Investment Advisors now owns 854 shares of the credit services provider’s stock valued at $455,000 after buying an additional 20 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Credit Acceptance by 7.4% during the third quarter. Wellington Management Group LLP now owns 644,666 shares of the credit services provider’s stock valued at $296,624,000 after acquiring an additional 44,454 shares during the period. Cerity Partners LLC acquired a new stake in Credit Acceptance in the fourth quarter worth approximately $472,516,000. Barclays PLC boosted its stake in Credit Acceptance by 385.9% during the 3rd quarter. Barclays PLC now owns 8,610 shares of the credit services provider’s stock valued at $3,961,000 after purchasing an additional 6,838 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Credit Acceptance by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 590,161 shares of the credit services provider’s stock valued at $271,545,000 after purchasing an additional 2,631 shares during the period. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Credit Acceptance

In other news, insider Douglas W. Busk sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $572.58, for a total value of $1,431,450.00. Following the transaction, the insider now owns 3,112 shares in the company, valued at approximately $1,781,868.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is owned by insiders.

Credit Acceptance Price Performance

CACC stock opened at $523.82 on Friday. The firm has a 50-day moving average of $540.53 and a two-hundred day moving average of $512.86. The firm has a market capitalization of $6.34 billion, a PE ratio of 26.88 and a beta of 1.44. The company has a current ratio of 13.79, a quick ratio of 13.79 and a debt-to-equity ratio of 3.29. Credit Acceptance Co. has a one year low of $379.77 and a one year high of $616.66.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $9.28 earnings per share for the quarter, topping the consensus estimate of $6.81 by $2.47. The firm had revenue of $508.00 million for the quarter, compared to analysts’ expectations of $497.71 million. Credit Acceptance had a net margin of 12.83% and a return on equity of 30.70%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $9.71 EPS. On average, analysts forecast that Credit Acceptance Co. will post 40.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. TD Cowen cut their target price on shares of Credit Acceptance from $465.00 to $420.00 and set a “sell” rating for the company in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $402.33.

Credit Acceptance 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.