Treasurer of the State of North Carolina Has $1.71 Million Stock Holdings in Credit Acceptance Co. (NASDAQ:CACC)

Treasurer of the State of North Carolina lowered its position in shares of Credit Acceptance Co. (NASDAQ:CACCFree Report) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,210 shares of the credit services provider’s stock after selling 30 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Credit Acceptance were worth $1,710,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Whittier Trust Co. acquired a new position in Credit Acceptance during the fourth quarter worth $74,000. National Bank of Canada FI boosted its stake in shares of Credit Acceptance by 242.3% during the 4th quarter. National Bank of Canada FI now owns 243 shares of the credit services provider’s stock worth $131,000 after buying an additional 172 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings 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 valued at $180,000 after acquiring an additional 46 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Credit Acceptance in the fourth quarter valued at about $210,000. Finally, Beacon Pointe Advisors LLC bought a new stake in Credit Acceptance during the fourth quarter worth about $211,000. 81.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Check Out Our Latest Research Report on Credit Acceptance

Credit Acceptance Trading Down 1.2 %

Credit Acceptance stock opened at $479.72 on Friday. The company has a debt-to-equity ratio of 3.29, a quick ratio of 13.79 and a current ratio of 13.79. The stock has a 50-day simple moving average of $515.42 and a 200 day simple moving average of $523.42. The stock has a market capitalization of $5.81 billion, a P/E ratio of 24.61 and a beta of 1.43. Credit Acceptance Co. has a 52 week low of $379.77 and a 52 week high of $616.66.

Credit Acceptance (NASDAQ:CACCGet Free Report) last posted its earnings results on Tuesday, April 30th. The credit services provider reported $9.28 earnings per share for the quarter, topping analysts’ consensus estimates of $6.81 by $2.47. Credit Acceptance had a return on equity of 30.70% and a net margin of 12.83%. The business had revenue of $508.00 million for the quarter, compared to analyst estimates of $497.71 million. During the same period in the previous year, the firm earned $9.71 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. Analysts expect that Credit Acceptance Co. will post 42.37 earnings per share for the current year.

Insider Buying and Selling at Credit Acceptance

In other news, insider Douglas W. Busk sold 2,500 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 3,112 shares in the company, valued at approximately $1,781,868.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 5.30% of the company’s stock.

About Credit Acceptance

(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.

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

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