EP Wealth Advisors LLC Decreases Holdings in Credit Acceptance Co. (NASDAQ:CACC)

EP Wealth Advisors LLC reduced its position in Credit Acceptance Co. (NASDAQ:CACC) by 16.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 400 shares of the credit services provider’s stock after selling 78 shares during the period. EP Wealth Advisors LLC’s holdings in Credit Acceptance were worth $213,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whittier Trust Co. purchased a new stake in shares of Credit Acceptance in the 4th quarter valued at about $74,000. National Bank of Canada FI lifted its holdings in shares of Credit Acceptance by 242.3% in the 4th quarter. National Bank of Canada FI now owns 243 shares of the credit services provider’s stock valued at $131,000 after purchasing an additional 172 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Credit Acceptance by 15.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 338 shares of the credit services provider’s stock valued at $180,000 after purchasing an additional 46 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of Credit Acceptance in the 4th quarter valued at about $210,000. Finally, Beacon Pointe Advisors LLC purchased a new stake in shares of Credit Acceptance in the 4th quarter valued at about $211,000. 81.71% of the stock is owned by hedge funds and other institutional investors.

Credit Acceptance Stock Performance

NASDAQ CACC opened at $485.17 on Friday. The company has a current ratio of 13.79, a quick ratio of 13.79 and a debt-to-equity ratio of 3.29. The business’s 50 day moving average is $502.94 and its two-hundred day moving average is $525.66. Credit Acceptance Co. has a 12-month low of $379.77 and a 12-month high of $616.66. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 24.89 and a beta of 1.43.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Tuesday, April 30th. The credit services provider reported $9.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.81 by $2.47. Credit Acceptance had a return on equity of 30.70% and a net margin of 12.83%. The company had revenue of $508.00 million for the quarter, compared to analysts’ expectations of $497.71 million. During the same quarter in the previous year, the firm posted $9.71 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. Research analysts expect that Credit Acceptance Co. will post 40.29 EPS for the current year.

Analysts Set New Price Targets

CACC has been the subject of several research reports. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. TD Cowen reduced their price objective on Credit Acceptance from $465.00 to $420.00 and set a “sell” rating for the company in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Credit Acceptance currently has a consensus rating of “Hold” and a consensus target price of $402.33.

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.