American Century Companies Inc. Cuts Holdings in Credit Acceptance Co. (NASDAQ:CACC)

American Century Companies Inc. lessened its position in shares of Credit Acceptance Co. (NASDAQ:CACC) by 17.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,150 shares of the credit services provider’s stock after selling 455 shares during the period. American Century Companies Inc.’s holdings in Credit Acceptance were worth $1,009,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. HighTower Advisors LLC increased its holdings in Credit Acceptance by 5.7% in the third quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider’s stock valued at $263,000 after buying an additional 32 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Credit Acceptance in the 4th quarter valued at about $28,000. US Bancorp DE raised its position in shares of Credit Acceptance by 50.4% during the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock worth $84,000 after acquiring an additional 60 shares in the last quarter. Xponance Inc. raised its position in shares of Credit Acceptance by 10.4% during the 4th quarter. Xponance Inc. now owns 730 shares of the credit services provider’s stock worth $343,000 after acquiring an additional 69 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its stake in Credit Acceptance by 7.2% during the fourth quarter. Corient Private Wealth LLC now owns 1,030 shares of the credit services provider’s stock worth $484,000 after purchasing an additional 69 shares during the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Credit Acceptance Price Performance

CACC stock opened at $495.87 on Friday. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63. The company has a market capitalization of $5.97 billion, a P/E ratio of 24.97 and a beta of 1.27. The business has a 50 day simple moving average of $496.63 and a 200-day simple moving average of $478.67. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, beating analysts’ consensus estimates of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. As a group, equities analysts anticipate that Credit Acceptance Co. will post 53.24 EPS for the current year.

Wall Street Analysts Forecast Growth

CACC has been the topic of a number of research analyst reports. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Stephens increased their target price on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st.

Insider Activity

In related news, insider Nicholas J. Elliott sold 300 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $502.00, for a total transaction of $150,600.00. Following the sale, the insider now owns 19,385 shares of the company’s stock, valued at approximately $9,731,270. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the sale, the insider now owns 3,112 shares of the company’s stock, valued at approximately $1,605,698.64. The trade was a 49.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

Credit Acceptance Company 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.