Public Employees Retirement Association of Colorado Has $360,000 Position in Credit Acceptance Co. (NASDAQ:CACC)

Public Employees Retirement Association of Colorado lessened its position in Credit Acceptance Co. (NASDAQ:CACC) by 10.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 699 shares of the credit services provider’s stock after selling 79 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Credit Acceptance were worth $360,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in Credit Acceptance by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 179,655 shares of the credit services provider’s stock valued at $92,455,000 after buying an additional 7,064 shares in the last quarter. Crow s Nest Holdings LP boosted its holdings in shares of Credit Acceptance by 39.4% in the 4th 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 in the last quarter. Goodnow Investment Group LLC grew its position in Credit Acceptance by 17.0% during the 4th quarter. Goodnow Investment Group LLC now owns 77,941 shares of the credit services provider’s stock worth $41,522,000 after acquiring an additional 11,310 shares during the last quarter. Quantum Capital Management LLC NJ increased its holdings in Credit Acceptance by 20.8% during the 1st quarter. Quantum Capital Management LLC NJ now owns 63,920 shares of the credit services provider’s stock valued at $35,255,000 after purchasing an additional 11,024 shares in the last quarter. Finally, Winmill & CO. Inc. raised its position in Credit Acceptance by 4.3% in the 4th quarter. Winmill & CO. Inc. now owns 26,537 shares of the credit services provider’s stock valued at $14,137,000 after purchasing an additional 1,087 shares during the last quarter. Institutional investors own 81.71% of the company’s stock.

Credit Acceptance Stock Up 1.4 %

NASDAQ:CACC opened at $447.69 on Friday. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 22.97 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. The stock’s fifty day moving average price is $473.99 and its two-hundred day moving average price is $505.52. Credit Acceptance Co. has a 52-week low of $379.77 and a 52-week high of $616.66.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings results 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 analysts’ expectations of $525.03 million. Credit Acceptance had a return on equity of 30.77% and a net margin of 9.01%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the business earned $10.69 earnings per share. On average, analysts anticipate that Credit Acceptance Co. will post 38.87 EPS for the current year.

Analyst Ratings Changes

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

Insider Activity

In related news, insider Thomas W. Smith sold 1,200 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 74,450 shares in the company, valued at $33,577,694.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.