Xponance Inc. Acquires New Stake in Credit Acceptance Co. (NASDAQ:CACC)

Xponance Inc. bought a new stake in Credit Acceptance Co. (NASDAQ:CACC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 671 shares of the credit services provider’s stock, valued at approximately $345,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CACC. nVerses Capital LLC purchased a new position in Credit Acceptance during the second quarter worth about $51,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Credit Acceptance during the 1st quarter worth approximately $156,000. MQS Management LLC acquired a new stake in shares of Credit Acceptance during the 1st quarter worth approximately $242,000. Headlands Technologies LLC increased its holdings in shares of Credit Acceptance by 24,850.0% during the 2nd quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock worth $257,000 after buying an additional 497 shares during the last quarter. Finally, FORA Capital LLC purchased a new position in shares of Credit Acceptance during the 1st quarter worth approximately $269,000. 81.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Credit Acceptance

In other news, insider Thomas W. Smith sold 1,200 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $451.01, for a total value of $541,212.00. Following the sale, the insider now directly owns 74,450 shares in the company, valued at approximately $33,577,694.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, TD Cowen lowered their price objective on shares of Credit Acceptance from $440.00 to $400.00 and set a “sell” rating for the company in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $395.67.

Credit Acceptance Stock Performance

NASDAQ:CACC opened at $438.50 on Wednesday. The company has a debt-to-equity ratio of 3.77, a quick ratio of 19.15 and a current ratio of 19.15. Credit Acceptance Co. has a fifty-two week low of $379.77 and a fifty-two week high of $616.66. The stock has a market capitalization of $5.31 billion, a P/E ratio of 22.52 and a beta of 1.42. The company has a 50 day moving average price of $471.48 and a 200 day moving average price of $504.06.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $10.29 EPS for the quarter, beating the consensus estimate of $7.20 by $3.09. Credit Acceptance had a net margin of 9.01% and a return on equity of 30.77%. The company had revenue of $538.20 million during the quarter, compared to analysts’ expectations of $525.03 million. During the same quarter last year, the company posted $10.69 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. Equities research analysts forecast that Credit Acceptance Co. will post 38.87 EPS for the current year.

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.