Harbor Capital Advisors Inc. Buys Shares of 94 Credit Acceptance Co. (NASDAQ:CACC)

Harbor Capital Advisors Inc. bought a new position in Credit Acceptance Co. (NASDAQ:CACC) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 94 shares of the credit services provider’s stock, valued at approximately $49,000.

Several other hedge funds and other institutional investors have also modified their holdings of CACC. Wedge Capital Management L L P NC lifted its stake in Credit Acceptance by 8.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 2,901 shares of the credit services provider’s stock worth $1,498,000 after acquiring an additional 214 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of Credit Acceptance by 10.3% in the 1st quarter. Park Avenue Securities LLC now owns 1,598 shares of the credit services provider’s stock valued at $825,000 after purchasing an additional 149 shares during the period. Rhumbline Advisers increased its holdings in shares of Credit Acceptance by 0.8% in the 1st quarter. Rhumbline Advisers now owns 9,122 shares of the credit services provider’s stock valued at $4,710,000 after purchasing an additional 70 shares during the period. GAMMA Investing LLC lifted its position in shares of Credit Acceptance by 103,166.7% in the first quarter. GAMMA Investing LLC now owns 12,392 shares of the credit services provider’s stock worth $6,399,000 after purchasing an additional 12,380 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Credit Acceptance during the fourth quarter worth approximately $206,000. Institutional investors and hedge funds own 81.71% of the company’s stock.

Insider Buying and Selling

In related news, insider Nicholas J. Elliott sold 300 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total value of $150,600.00. Following the transaction, the insider now owns 19,385 shares in the company, valued at approximately $9,731,270. This represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 completion of the sale, the insider now owns 3,112 shares of the company’s stock, valued at $1,605,698.64. This trade represents a 49.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

Credit Acceptance Stock Performance

Shares of CACC opened at $484.71 on Monday. The company has a market capitalization of $5.62 billion, a PE ratio of 24.41 and a beta of 1.15. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. The company’s 50 day moving average price is $487.75 and its 200 day moving average price is $489.20. Credit Acceptance Co. has a 52 week low of $409.22 and a 52 week high of $614.96.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.31 by ($0.96). Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. The company had revenue of $571.10 million for the quarter, compared to analyst estimates of $570.25 million. During the same period last year, the business earned $9.28 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. Research analysts expect that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

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.