Credit Acceptance Co. (NASDAQ:CACC) Shares Purchased by nVerses Capital LLC

nVerses Capital LLC lifted its position in Credit Acceptance Co. (NASDAQ:CACC) by 200.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 300 shares of the credit services provider’s stock after purchasing an additional 200 shares during the quarter. nVerses Capital LLC’s holdings in Credit Acceptance were worth $133,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CACC. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Credit Acceptance in the 1st quarter valued at about $156,000. MQS Management LLC acquired a new stake in Credit Acceptance during the 1st quarter worth approximately $242,000. Headlands Technologies LLC lifted its position in Credit Acceptance by 24,850.0% during the 2nd quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock worth $257,000 after acquiring an additional 497 shares during the period. FORA Capital LLC acquired a new stake in Credit Acceptance during the 1st quarter worth approximately $269,000. Finally, Creative Planning acquired a new stake in Credit Acceptance during the 2nd quarter worth approximately $282,000. 81.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Thomas W. Smith sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $451.01, for a total value of $541,212.00. Following the completion of the transaction, the insider now directly owns 74,450 shares of the company’s stock, valued at $33,577,694.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

Credit Acceptance Stock Down 0.0 %

CACC opened at $475.35 on Friday. The company has a debt-to-equity ratio of 3.77, a current ratio of 19.15 and a quick ratio of 19.15. The business has a 50 day simple moving average of $453.09 and a 200-day simple moving average of $494.83. The stock has a market capitalization of $5.76 billion, a P/E ratio of 24.39 and a beta of 1.42. Credit Acceptance Co. has a 12 month low of $379.77 and a 12 month 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 EPS for the quarter, beating the consensus estimate of $7.20 by $3.09. The business had revenue of $538.20 million during 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 company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the firm earned $10.69 EPS. On average, equities analysts anticipate that Credit Acceptance Co. will post 38.87 earnings per share for the current fiscal 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.