859 Shares in Credit Acceptance Corporation $CACC Acquired by Global Retirement Partners LLC

Global Retirement Partners LLC bought a new stake in Credit Acceptance Corporation (NASDAQ:CACC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 859 shares of the credit services provider’s stock, valued at approximately $438,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE raised its stake in Credit Acceptance by 35.8% in the 1st quarter. US Bancorp DE now owns 243 shares of the credit services provider’s stock valued at $125,000 after acquiring an additional 64 shares during the period. Rhumbline Advisers boosted its position in Credit Acceptance by 0.8% during the first quarter. Rhumbline Advisers now owns 9,122 shares of the credit services provider’s stock worth $4,710,000 after purchasing an additional 70 shares during the period. American Century Companies Inc. increased its stake in shares of Credit Acceptance by 3.4% in the first quarter. American Century Companies Inc. now owns 2,223 shares of the credit services provider’s stock worth $1,148,000 after purchasing an additional 73 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Credit Acceptance by 9.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 818 shares of the credit services provider’s stock valued at $417,000 after purchasing an additional 73 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Credit Acceptance during the 1st quarter valued at approximately $44,000. Institutional investors own 81.71% of the company’s stock.

Insider Buying and Selling

In other Credit Acceptance news, CEO Kenneth Booth sold 4,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 68,116 shares in the company, valued at $34,506,884.44. This represents a 5.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.60% of the stock is currently owned by insiders.

Credit Acceptance Stock Performance

Credit Acceptance stock opened at $461.80 on Friday. Credit Acceptance Corporation has a 1-year low of $401.90 and a 1-year high of $560.00. The company has a current ratio of 22.03, a quick ratio of 22.03 and a debt-to-equity ratio of 4.16. The firm has a market capitalization of $5.09 billion, a PE ratio of 13.31 and a beta of 1.16. The firm’s 50 day simple moving average is $465.52 and its 200 day simple moving average is $488.03.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on CACC. TD Cowen cut their price objective on shares of Credit Acceptance from $450.00 to $430.00 and set a “sell” rating for the company in a report on Friday, October 31st. Cowen reaffirmed a “sell” rating on shares of Credit Acceptance in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Credit Acceptance in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $465.00.

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.