Credit Acceptance Co. (NASDAQ:CACC) Shares Purchased by Headlands Technologies LLC

Headlands Technologies LLC lifted its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 24,850.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 499 shares of the credit services provider’s stock after acquiring an additional 497 shares during the quarter. Headlands Technologies LLC’s holdings in Credit Acceptance were worth $257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Crow s Nest Holdings LP increased its stake in shares of Credit Acceptance by 39.4% in 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 acquiring an additional 26,000 shares during the period. Goodnow Investment Group LLC boosted its holdings in 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 buying an additional 11,310 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Credit Acceptance by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 75,927 shares of the credit services provider’s stock worth $40,449,000 after buying an additional 4,734 shares in the last quarter. JARISLOWSKY FRASER Ltd boosted its holdings in Credit Acceptance by 12.0% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 71,262 shares of the credit services provider’s stock worth $37,963,000 after buying an additional 7,612 shares in the last quarter. Finally, Quantum Capital Management LLC NJ boosted its holdings in Credit Acceptance by 20.8% during the first quarter. Quantum Capital Management LLC NJ now owns 63,920 shares of the credit services provider’s stock worth $35,255,000 after buying an additional 11,024 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Credit Acceptance Stock Performance

Shares of NASDAQ CACC opened at $432.34 on Friday. The company’s fifty day moving average price is $500.05 and its 200 day moving average price is $513.53. Credit Acceptance Co. has a 1 year low of $379.77 and a 1 year high of $616.66. The company has a market capitalization of $5.24 billion, a PE ratio of 22.23 and a beta of 1.42. The company has a debt-to-equity ratio of 3.77, a quick ratio of 19.15 and a current ratio of 19.15.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $10.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.20 by $3.09. The business had revenue of $538.20 million for the quarter, compared to the consensus estimate of $525.03 million. Credit Acceptance had a net margin of 9.01% and a return on equity of 30.77%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $10.69 earnings per share. On average, research analysts predict that Credit Acceptance Co. will post 38.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, TD Cowen lowered their price target on shares of Credit Acceptance from $440.00 to $400.00 and set a “sell” rating on the stock in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $395.67.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, insider Thomas W. Smith sold 1,200 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $451.01, for a total transaction of $541,212.00. Following the transaction, the insider now directly owns 74,450 shares of the company’s stock, valued at $33,577,694.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.30% of the company’s stock.

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.