Credit Acceptance Corporation $CACC Stock Holdings Lessened by Alfreton Capital LLP

Alfreton Capital LLP decreased its position in Credit Acceptance Corporation (NASDAQ:CACC) by 1.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 186,826 shares of the credit services provider’s stock after selling 3,174 shares during the quarter. Credit Acceptance comprises about 27.6% of Alfreton Capital LLP’s holdings, making the stock its largest position. Alfreton Capital LLP owned 1.66% of Credit Acceptance worth $95,175,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Planning lifted its position in Credit Acceptance by 35.6% during the second quarter. Creative Planning now owns 529 shares of the credit services provider’s stock worth $269,000 after buying an additional 139 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Credit Acceptance by 64.0% during the 2nd quarter. SG Americas Securities LLC now owns 456 shares of the credit services provider’s stock worth $232,000 after acquiring an additional 178 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Credit Acceptance by 13.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 2,593 shares of the credit services provider’s stock worth $1,321,000 after acquiring an additional 312 shares during the last quarter. Bryce Point Capital LLC purchased a new stake in Credit Acceptance in the second quarter valued at approximately $867,000. Finally, Impact Partnership Wealth LLC acquired a new position in Credit Acceptance during the second quarter worth approximately $246,000. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

Credit Acceptance Trading Up 0.2%

Shares of CACC stock opened at $441.30 on Monday. The stock has a 50-day simple moving average of $479.69 and a 200 day simple moving average of $491.88. The stock has a market capitalization of $4.87 billion, a P/E ratio of 12.72 and a beta of 1.16. The company has a quick ratio of 22.03, a current ratio of 22.03 and a debt-to-equity ratio of 4.16. Credit Acceptance Corporation has a fifty-two week low of $401.90 and a fifty-two week high of $560.00.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Thursday, October 30th. The credit services provider reported $10.28 EPS for the quarter, topping analysts’ consensus estimates of $9.61 by $0.67. The firm had revenue of $405.10 million during the quarter, compared to analyst estimates of $592.19 million. Credit Acceptance had a return on equity of 27.06% and a net margin of 18.69%.The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $9.25 EPS. On average, sell-side analysts expect that Credit Acceptance Corporation will post 53.24 earnings per share for the current fiscal year.

Insider Transactions at Credit Acceptance

In related news, insider Daniel A. Ulatowski sold 2,139 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $509.05, for a total value of $1,088,857.95. Following the sale, the insider owned 28,290 shares of the company’s stock, valued at $14,401,024.50. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kenneth Booth sold 4,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $506.59, for a total value of $2,026,360.00. Following the completion of the transaction, the chief executive officer directly owned 68,116 shares of the company’s stock, valued at approximately $34,506,884.44. The trade was a 5.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 13,697 shares of company stock worth $6,981,255. Company insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Credit Acceptance in a research report on Wednesday, October 8th. TD Cowen dropped their target price on shares of Credit Acceptance from $450.00 to $430.00 and set a “sell” rating for the company in a research report on Friday, October 31st. Finally, Cowen restated a “sell” rating on shares of Credit Acceptance in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Credit Acceptance presently has a consensus rating of “Reduce” and a consensus target price of $465.00.

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.