XTX Topco Ltd Purchases Shares of 1,703 Credit Acceptance Co. (NASDAQ:CACC)

XTX Topco Ltd acquired a new position in shares of Credit Acceptance Co. (NASDAQ:CACC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,703 shares of the credit services provider’s stock, valued at approximately $876,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CACC. nVerses Capital LLC acquired a new stake in Credit Acceptance during the 2nd quarter valued at approximately $51,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Credit Acceptance during the first quarter worth $156,000. Panagora Asset Management Inc. bought a new position in Credit Acceptance during the fourth quarter worth $210,000. Beacon Pointe Advisors LLC acquired a new position in Credit Acceptance in the fourth quarter valued at $211,000. Finally, MQS Management LLC bought a new stake in Credit Acceptance during the first quarter valued at $242,000. 81.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, TD Cowen dropped their price objective on Credit Acceptance from $440.00 to $400.00 and set a “sell” rating on the stock in a research note on Thursday, August 1st. One equities research 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 MarketBeat, the company currently has an average rating of “Hold” and an average target price of $395.67.

Credit Acceptance Stock Down 2.3 %

Shares of NASDAQ CACC opened at $453.56 on Friday. The company has a quick ratio of 19.15, a current ratio of 19.15 and a debt-to-equity ratio of 3.77. The firm has a market cap of $5.49 billion, a PE ratio of 23.27 and a beta of 1.42. The company’s fifty day simple moving average is $488.86 and its 200 day simple moving average is $508.96. Credit Acceptance Co. has a 12-month low of $379.77 and a 12-month high of $616.66.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $10.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.20 by $3.09. Credit Acceptance had a net margin of 9.01% and a return on equity of 30.77%. The company had revenue of $538.20 million for the quarter, compared to analysts’ expectations of $525.03 million. During the same quarter in the prior year, the firm earned $10.69 EPS. The business’s revenue was up 12.6% on a year-over-year basis. As a group, sell-side analysts forecast that Credit Acceptance Co. will post 38.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Thomas W. Smith sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.30% of the company’s stock.

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.