Credit Acceptance Co. (NASDAQ:CACC) Shares Bought by Swiss National Bank

Swiss National Bank grew its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 0.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 13,077 shares of the credit services provider’s stock after buying an additional 100 shares during the quarter. Swiss National Bank’s holdings in Credit Acceptance were worth $6,139,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Eagle Bay Advisors LLC purchased a new stake in Credit Acceptance during the 4th quarter valued at about $28,000. First Horizon Advisors Inc. acquired a new position in shares of Credit Acceptance during the 4th quarter worth approximately $34,000. Farther Finance Advisors LLC purchased a new stake in shares of Credit Acceptance in the fourth quarter valued at approximately $38,000. Quest Partners LLC increased its holdings in shares of Credit Acceptance by 11,900.0% in the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock valued at $53,000 after purchasing an additional 119 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of Credit Acceptance by 50.4% during the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock worth $84,000 after acquiring an additional 60 shares during the period. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on CACC. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Stephens raised their price objective on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st.

Credit Acceptance Stock Down 0.4 %

Shares of Credit Acceptance stock opened at $495.49 on Monday. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $614.96. The company has a market capitalization of $5.96 billion, a P/E ratio of 24.95 and a beta of 1.51. The company has a 50 day moving average of $496.81 and a 200 day moving average of $472.72.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. As a group, research analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

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.