LVW Advisors LLC decreased its position in Credit Acceptance Co. (NASDAQ:CACC – Free Report) by 3.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 652 shares of the credit services provider’s stock after selling 21 shares during the quarter. LVW Advisors LLC’s holdings in Credit Acceptance were worth $360,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. bought a new position in Credit Acceptance in the fourth quarter worth $74,000. National Bank of Canada FI increased its holdings in Credit Acceptance by 242.3% in the 4th quarter. National Bank of Canada FI now owns 243 shares of the credit services provider’s stock worth $131,000 after buying an additional 172 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Credit Acceptance by 15.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 338 shares of the credit services provider’s stock worth $180,000 after buying an additional 46 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in Credit Acceptance in the 4th quarter worth about $210,000. Finally, Beacon Pointe Advisors LLC bought a new stake in Credit Acceptance in the 4th quarter worth about $211,000. Institutional investors own 81.71% of the company’s stock.
Credit Acceptance Stock Up 3.8 %
CACC stock opened at $514.68 on Monday. Credit Acceptance Co. has a twelve month low of $379.77 and a twelve month high of $616.66. The company has a quick ratio of 13.79, a current ratio of 13.79 and a debt-to-equity ratio of 3.29. The stock has a market cap of $6.23 billion, a P/E ratio of 26.41 and a beta of 1.44. The business’s 50-day moving average price is $497.60 and its 200-day moving average price is $527.95.
Analyst Upgrades and Downgrades
Separately, TD Cowen dropped their target price on Credit Acceptance from $465.00 to $420.00 and set a “sell” rating on the stock in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $402.33.
Get Our Latest Analysis on CACC
About Credit Acceptance
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.
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