5,341 Shares in Credit Acceptance Co. (NASDAQ:CACC) Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH bought a new stake in Credit Acceptance Co. (NASDAQ:CACCFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,341 shares of the credit services provider’s stock, valued at approximately $2,845,000.

A number of other large investors also recently bought and sold shares of CACC. Realta Investment Advisors boosted its position in shares of Credit Acceptance by 2.4% during the fourth quarter. Realta Investment Advisors now owns 854 shares of the credit services provider’s stock worth $455,000 after buying an additional 20 shares during the period. Wellington Management Group LLP lifted its stake in Credit Acceptance by 7.4% during the 3rd quarter. Wellington Management Group LLP now owns 644,666 shares of the credit services provider’s stock worth $296,624,000 after acquiring an additional 44,454 shares in the last quarter. Quest Partners LLC purchased a new position in Credit Acceptance during the 4th quarter valued at about $1,324,000. Cerity Partners LLC acquired a new position in Credit Acceptance in the 4th quarter valued at about $472,516,000. Finally, Barclays PLC increased its stake in Credit Acceptance by 385.9% during the third quarter. Barclays PLC now owns 8,610 shares of the credit services provider’s stock worth $3,961,000 after purchasing an additional 6,838 shares during the period. Institutional investors and hedge funds own 81.71% of the company’s stock.

Credit Acceptance Stock Performance

Shares of Credit Acceptance stock opened at $479.72 on Friday. The business has a 50-day simple moving average of $515.42 and a 200-day simple moving average of $523.42. The company has a market cap of $5.81 billion, a PE ratio of 24.61 and a beta of 1.43. Credit Acceptance Co. has a one year low of $379.77 and a one year high of $616.66. The company has a debt-to-equity ratio of 3.29, a quick ratio of 13.79 and a current ratio of 13.79.

Credit Acceptance (NASDAQ:CACCGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $9.28 EPS for the quarter, topping the consensus estimate of $6.81 by $2.47. Credit Acceptance had a net margin of 12.83% and a return on equity of 30.70%. The company had revenue of $508.00 million during the quarter, compared to analysts’ expectations of $497.71 million. During the same quarter in the previous year, the business posted $9.71 EPS. The firm’s revenue was up 11.9% on a year-over-year basis. On average, equities research analysts forecast that Credit Acceptance Co. will post 42.37 EPS for the current fiscal year.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, insider Douglas W. Busk sold 2,500 shares of Credit Acceptance stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $572.58, for a total transaction 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 Securities & Exchange Commission, which can be accessed through this link. 5.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CACC has been the subject of a number of research reports. TD Cowen dropped their price objective on shares of Credit Acceptance from $465.00 to $420.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $402.33.

Check Out Our Latest Report on CACC

Credit Acceptance Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Credit Acceptance (NASDAQ:CACC)

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