Alfreton Capital LLP Trims Position in Credit Acceptance Corporation $CACC

Alfreton Capital LLP reduced its holdings in Credit Acceptance Corporation (NASDAQ:CACC) by 30.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 130,000 shares of the credit services provider’s stock after selling 56,826 shares during the quarter. Credit Acceptance makes up about 26.2% of Alfreton Capital LLP’s portfolio, making the stock its 3rd largest holding. Alfreton Capital LLP owned about 1.18% of Credit Acceptance worth $60,701,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CACC. Allianz Asset Management GmbH increased its holdings in Credit Acceptance by 21.3% in the third quarter. Allianz Asset Management GmbH now owns 29,095 shares of the credit services provider’s stock valued at $13,585,000 after purchasing an additional 5,107 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Credit Acceptance by 16.9% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 23,575 shares of the credit services provider’s stock valued at $11,008,000 after buying an additional 3,400 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Credit Acceptance by 6.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 32,407 shares of the credit services provider’s stock valued at $16,509,000 after buying an additional 2,056 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Credit Acceptance by 430.3% in the third quarter. SG Americas Securities LLC now owns 2,418 shares of the credit services provider’s stock valued at $1,129,000 after buying an additional 1,962 shares during the period. Finally, KLP Kapitalforvaltning AS raised its position in shares of Credit Acceptance by 7.7% during the second quarter. KLP Kapitalforvaltning AS now owns 1,400 shares of the credit services provider’s stock worth $713,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Insiders Place Their Bets

In related news, insider Wendy A. Rummler sold 5,236 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $493.44, for a total transaction of $2,583,651.84. Following the transaction, the insider directly owned 20,772 shares of the company’s stock, valued at approximately $10,249,735.68. This represents a 20.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.60% of the company’s stock.

Credit Acceptance Stock Up 0.7%

Shares of NASDAQ CACC opened at $507.36 on Wednesday. The company has a quick ratio of 15.81, a current ratio of 15.81 and a debt-to-equity ratio of 3.94. The firm has a market cap of $5.60 billion, a PE ratio of 13.90 and a beta of 1.27. The company’s fifty day simple moving average is $466.24 and its 200 day simple moving average is $474.00. Credit Acceptance Corporation has a 12-month low of $401.90 and a 12-month high of $549.75.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings results on Thursday, January 29th. The credit services provider reported $11.35 earnings per share for the quarter, beating the consensus estimate of $10.30 by $1.05. The firm had revenue of $408.20 million during the quarter, compared to the consensus estimate of $582.63 million. Credit Acceptance had a net margin of 18.29% and a return on equity of 28.46%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.17 earnings per share. As a group, sell-side analysts forecast that Credit Acceptance Corporation will post 53.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CACC has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Credit Acceptance in a research note on Wednesday, January 21st. Zacks Research upgraded shares of Credit Acceptance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, TD Cowen upped their price objective on shares of Credit Acceptance from $460.00 to $470.00 and gave the company a “hold” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Credit Acceptance has an average rating of “Moderate Buy” and a consensus price target of $470.00.

Credit Acceptance Company Profile

Credit Acceptance Corporation, founded in 1972 and headquartered in Southfield, Michigan, is a specialty finance company focused on the indirect automotive lending market. The company partners with independent and franchised auto dealers to facilitate purchase financing for consumers who may not qualify for traditional prime auto loans. By purchasing retail installment contracts originated by these dealers, Credit Acceptance provides capital and credit insurance to support vehicle sales, enabling dealers to broaden their customer base and reduce credit risk.

Through its proprietary underwriting platform and risk management strategies, Credit Acceptance evaluates borrower applications, structures credit plans, and retains servicing rights on the acquired contracts.