Credit Acceptance Co. (NASDAQ:CACC) Shares Sold by Kize Capital LP

Kize Capital LP decreased its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 13.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,317 shares of the credit services provider’s stock after selling 9,975 shares during the quarter. Credit Acceptance makes up 30.2% of Kize Capital LP’s portfolio, making the stock its biggest position. Kize Capital LP owned 0.51% of Credit Acceptance worth $32,073,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Crow s Nest Holdings LP grew its holdings in Credit Acceptance by 39.4% during 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. Quantum Capital Management LLC NJ increased its holdings in Credit Acceptance by 55.9% in the fourth quarter. Quantum Capital Management LLC NJ now owns 52,896 shares of the credit services provider’s stock valued at $28,179,000 after buying an additional 18,960 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Credit Acceptance in the first quarter valued at about $6,830,000. Goodnow Investment Group LLC raised its stake in Credit Acceptance by 17.0% during the fourth quarter. Goodnow Investment Group LLC now owns 77,941 shares of the credit services provider’s stock valued at $41,522,000 after buying an additional 11,310 shares in the last quarter. Finally, JARISLOWSKY FRASER Ltd lifted its holdings in Credit Acceptance by 12.0% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 71,262 shares of the credit services provider’s stock worth $37,963,000 after buying an additional 7,612 shares during the last quarter. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Insider Activity

In related news, insider Thomas W. Smith sold 1,200 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $451.01, for a total value of $541,212.00. Following the sale, the insider now owns 74,450 shares of the company’s stock, valued at approximately $33,577,694.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.30% of the company’s stock.

Credit Acceptance Price Performance

CACC opened at $453.56 on Friday. The company has a quick ratio of 19.15, a current ratio of 19.15 and a debt-to-equity ratio of 3.77. The company’s 50-day moving average price is $488.86 and its 200 day moving average price is $508.96. Credit Acceptance Co. has a fifty-two week low of $379.77 and a fifty-two week high of $616.66. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 23.27 and a beta of 1.42.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $10.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.20 by $3.09. The business had revenue of $538.20 million for the quarter, compared to the consensus estimate of $525.03 million. Credit Acceptance had a return on equity of 30.77% and a net margin of 9.01%. The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $10.69 EPS. As a group, sell-side analysts expect that Credit Acceptance Co. will post 38.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, TD Cowen dropped their price target on Credit Acceptance from $440.00 to $400.00 and set a “sell” rating on the stock in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.