BNP Paribas Financial Markets Sells 2,813 Shares of Credit Acceptance Co. (NASDAQ:CACC)

BNP Paribas Financial Markets trimmed its stake in Credit Acceptance Co. (NASDAQ:CACC) by 92.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 234 shares of the credit services provider’s stock after selling 2,813 shares during the quarter. BNP Paribas Financial Markets’ holdings in Credit Acceptance were worth $104,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in shares of Credit Acceptance by 38.6% in the 2nd quarter. Renaissance Technologies LLC now owns 7,900 shares of the credit services provider’s stock worth $4,066,000 after purchasing an additional 2,200 shares during the last quarter. Smead Capital Management Inc. lifted its stake in shares of Credit Acceptance by 3.5% in the third quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider’s stock worth $92,155,000 after buying an additional 7,012 shares in the last quarter. Ascent Group LLC grew its holdings in shares of Credit Acceptance by 12.2% during the second quarter. Ascent Group LLC now owns 5,602 shares of the credit services provider’s stock valued at $2,883,000 after buying an additional 611 shares during the last quarter. Rhumbline Advisers increased its position in shares of Credit Acceptance by 10.1% during the second quarter. Rhumbline Advisers now owns 9,235 shares of the credit services provider’s stock valued at $4,753,000 after acquiring an additional 844 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Credit Acceptance during the second quarter valued at approximately $876,000. 81.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CACC shares. Stephens began coverage on Credit Acceptance in a research report on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price objective on the stock. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, TD Cowen reduced their price objective on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a report on Friday, November 1st.

Credit Acceptance Stock Down 4.5 %

CACC opened at $468.87 on Thursday. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $616.66. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79. The firm has a 50 day moving average price of $466.72 and a 200-day moving average price of $479.71. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 31.49 and a beta of 1.46.

Credit Acceptance (NASDAQ:CACC) last announced its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, beating analysts’ consensus estimates of $7.88 by $0.91. The business had revenue of $550.30 million during the quarter, compared to analyst estimates of $548.13 million. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business earned $10.70 EPS. Equities research analysts forecast that Credit Acceptance Co. will post 36.54 earnings per share for the current year.

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.