Handelsinvest Investeringsforvaltning Has $178,000 Position in Credit Acceptance Co. (NASDAQ:CACC)

Handelsinvest Investeringsforvaltning lowered its stake in Credit Acceptance Co. (NASDAQ:CACC) by 34.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 323 shares of the credit services provider’s stock after selling 167 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Credit Acceptance were worth $178,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cerity Partners LLC acquired a new stake in Credit Acceptance during the 4th quarter worth $472,516,000. Wellington Management Group LLP boosted its position in shares of Credit Acceptance by 7.4% during the third quarter. Wellington Management Group LLP now owns 644,666 shares of the credit services provider’s stock worth $296,624,000 after purchasing an additional 44,454 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Credit Acceptance by 0.4% during the third quarter. Vanguard Group Inc. now owns 590,161 shares of the credit services provider’s stock worth $271,545,000 after purchasing an additional 2,631 shares in the last quarter. Crow s Nest Holdings LP boosted its position in shares of Credit Acceptance by 39.4% during the fourth quarter. Crow s Nest Holdings LP now owns 92,000 shares of the credit services provider’s stock worth $49,011,000 after purchasing an additional 26,000 shares in the last quarter. Finally, Goodnow Investment Group LLC boosted its position in shares of Credit Acceptance by 17.0% during the fourth quarter. Goodnow Investment Group LLC now owns 77,941 shares of the credit services provider’s stock worth $41,522,000 after purchasing an additional 11,310 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, TD Cowen reduced their price target on shares of Credit Acceptance from $465.00 to $420.00 and set a “sell” rating on the stock in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $402.33.

Credit Acceptance Trading Down 0.7 %

Shares of NASDAQ:CACC opened at $519.00 on Thursday. The company’s 50-day moving average price is $497.50 and its two-hundred day moving average price is $527.96. The company has a debt-to-equity ratio of 3.29, a current ratio of 13.79 and a quick ratio of 13.79. Credit Acceptance Co. has a one year low of $379.77 and a one year high of $616.66. The stock has a market capitalization of $6.29 billion, a PE ratio of 26.63 and a beta of 1.44.

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

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.