Healthcare of Ontario Pension Plan Trust Fund Acquires Shares of 283 Credit Acceptance Co. (NASDAQ:CACC)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Credit Acceptance Co. (NASDAQ:CACC) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 283 shares of the credit services provider’s stock, valued at approximately $156,000.

Several other large investors have also recently made changes to their positions in CACC. Vanguard Group Inc. increased its holdings in Credit Acceptance by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 590,161 shares of the credit services provider’s stock worth $271,545,000 after acquiring an additional 2,631 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Credit Acceptance in the 4th quarter worth $459,000. Realta Investment Advisors grew its holdings in shares of Credit Acceptance by 2.4% during the fourth quarter. Realta Investment Advisors now owns 854 shares of the credit services provider’s stock worth $455,000 after buying an additional 20 shares in the last quarter. JLB & Associates Inc. grew its holdings in shares of Credit Acceptance by 3.1% during the fourth quarter. JLB & Associates Inc. now owns 6,361 shares of the credit services provider’s stock worth $3,389,000 after buying an additional 192 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Credit Acceptance by 7.9% during the fourth quarter. Arizona State Retirement System now owns 1,972 shares of the credit services provider’s stock worth $1,051,000 after buying an additional 145 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, TD Cowen dropped their target price on shares of Credit Acceptance from $465.00 to $420.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Credit Acceptance currently has an average rating of “Hold” and an average target price of $402.33.

Credit Acceptance Price Performance

Credit Acceptance stock opened at $573.06 on Friday. Credit Acceptance Co. has a 12-month low of $379.77 and a 12-month high of $616.66. The stock has a market cap of $6.94 billion, a P/E ratio of 29.40 and a beta of 1.44. The company has a 50-day moving average price of $513.70 and a 200 day moving average price of $532.05. The company has a current ratio of 13.79, a quick ratio of 13.79 and a debt-to-equity ratio of 3.29.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $9.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.81 by $2.47. Credit Acceptance had a net margin of 12.83% and a return on equity of 30.70%. The firm had revenue of $508.00 million during the quarter, compared to analysts’ expectations of $497.71 million. During the same period last year, the business earned $9.71 earnings per share. Credit Acceptance’s revenue was up 11.9% compared to the same quarter last year. Sell-side analysts anticipate that Credit Acceptance Co. will post 41.01 earnings per share for the current 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.