GSA Capital Partners LLP Invests $471,000 in Credit Acceptance Co. (NASDAQ:CACC)

GSA Capital Partners LLP acquired a new position in shares of Credit Acceptance Co. (NASDAQ:CACC) in the 3rd quarter, HoldingsChannel reports. The fund acquired 1,063 shares of the credit services provider’s stock, valued at approximately $471,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Diversified Trust Co purchased a new stake in Credit Acceptance during the 2nd quarter valued at approximately $618,000. Jacobs Levy Equity Management Inc. purchased a new stake in Credit Acceptance during the 1st quarter valued at approximately $662,000. Russell Investments Group Ltd. raised its stake in shares of Credit Acceptance by 821.9% during the 1st quarter. Russell Investments Group Ltd. now owns 3,282 shares of the credit services provider’s stock worth $1,810,000 after buying an additional 2,926 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Credit Acceptance by 38.6% during the 2nd quarter. Renaissance Technologies LLC now owns 7,900 shares of the credit services provider’s stock worth $4,066,000 after buying an additional 2,200 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Credit Acceptance during the 1st quarter worth approximately $6,830,000. 81.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, insider Thomas W. Smith sold 1,200 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $451.01, for a total transaction of $541,212.00. Following the transaction, the insider now owns 74,450 shares of the company’s stock, valued at $33,577,694.50. This represents a 1.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 5.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CACC has been the topic of a number of research reports. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. TD Cowen lowered their price target on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a report on Friday, November 1st. Finally, Stephens initiated coverage on Credit Acceptance in a report on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price target on the stock.

Credit Acceptance Price Performance

Shares of NASDAQ:CACC opened at $447.57 on Thursday. The business’s fifty day moving average price is $450.10 and its two-hundred day moving average price is $481.78. The stock has a market cap of $5.42 billion, a PE ratio of 30.06 and a beta of 1.42. The company has a debt-to-equity ratio of 3.79, a quick ratio of 23.63 and a current ratio of 23.63. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $616.66.

Credit Acceptance (NASDAQ:CACC) last announced its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, beating analysts’ consensus estimates of $7.88 by $0.91. The firm had revenue of $550.30 million for the quarter, compared to analysts’ expectations of $548.13 million. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. Credit Acceptance’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.70 EPS. On average, analysts forecast that Credit Acceptance Co. will post 37.14 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.