Alfreton Capital LLP Buys 18,128 Shares of Credit Acceptance Co. (NASDAQ:CACC)

Alfreton Capital LLP raised its position in shares of Credit Acceptance Co. (NASDAQ:CACC) by 22.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 98,128 shares of the credit services provider’s stock after buying an additional 18,128 shares during the period. Credit Acceptance makes up about 20.9% of Alfreton Capital LLP’s portfolio, making the stock its 3rd biggest holding. Alfreton Capital LLP’s holdings in Credit Acceptance were worth $50,505,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in Credit Acceptance during the second quarter worth about $51,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Credit Acceptance during the 1st quarter worth approximately $156,000. MQS Management LLC acquired a new stake in Credit Acceptance during the 1st quarter worth approximately $242,000. FORA Capital LLC purchased a new position in Credit Acceptance in the 1st quarter valued at approximately $269,000. Finally, Headlands Technologies LLC grew its stake in shares of Credit Acceptance by 24,850.0% in the second quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock worth $257,000 after acquiring an additional 497 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Credit Acceptance Stock Down 1.6 %

Shares of Credit Acceptance stock opened at $447.62 on Wednesday. The company has a quick ratio of 19.15, a current ratio of 19.15 and a debt-to-equity ratio of 3.77. Credit Acceptance Co. has a 52-week low of $379.77 and a 52-week high of $616.66. The company has a market capitalization of $5.42 billion, a P/E ratio of 22.97 and a beta of 1.42. The company has a 50 day moving average of $482.99 and a 200 day moving average of $507.16.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Wednesday, July 31st. The credit services provider reported $10.29 EPS for the quarter, topping analysts’ consensus estimates of $7.20 by $3.09. The firm had revenue of $538.20 million during 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 quarter in the previous year, the firm posted $10.69 earnings per share. As a group, research analysts forecast that Credit Acceptance Co. will post 38.87 EPS for the current fiscal year.

Insider Activity

In other news, insider Thomas W. Smith sold 1,200 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $451.01, for a total value of $541,212.00. Following the completion of the transaction, the insider now owns 74,450 shares in the company, valued at approximately $33,577,694.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, TD Cowen reduced 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 analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $395.67.

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.