Caxton Associates LP purchased a new position in shares of Credit Acceptance Co. (NASDAQ:CACC – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 612 shares of the credit services provider’s stock, valued at approximately $338,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in CACC. SG Americas Securities LLC bought a new stake in shares of Credit Acceptance during the fourth quarter worth about $459,000. JLB & Associates Inc. boosted its holdings in Credit Acceptance by 3.1% in the fourth quarter. JLB & Associates Inc. now owns 6,361 shares of the credit services provider’s stock valued at $3,389,000 after acquiring an additional 192 shares during the last quarter. Arizona State Retirement System boosted its holdings in Credit Acceptance by 7.9% in the fourth quarter. Arizona State Retirement System now owns 1,972 shares of the credit services provider’s stock valued at $1,051,000 after acquiring an additional 145 shares during the last quarter. Lodestone Wealth Management LLC boosted its holdings in Credit Acceptance by 8.3% in the fourth quarter. Lodestone Wealth Management LLC now owns 1,187 shares of the credit services provider’s stock valued at $632,000 after acquiring an additional 91 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in Credit Acceptance in the fourth quarter valued at approximately $472,516,000. 81.71% of the stock is currently owned by institutional investors.
Credit Acceptance Trading Up 2.1 %
Shares of Credit Acceptance stock traded up $12.14 on Tuesday, reaching $579.18. 12,061 shares of the company’s stock were exchanged, compared to its average volume of 58,787. The company has a market capitalization of $7.01 billion, a P/E ratio of 29.09 and a beta of 1.44. Credit Acceptance Co. has a 52 week low of $379.77 and a 52 week high of $616.66. The firm’s 50-day moving average is $515.16 and its two-hundred day moving average is $532.21. The company has a debt-to-equity ratio of 3.29, a quick ratio of 13.79 and a current ratio of 13.79.
Wall Street Analyst Weigh In
Separately, TD Cowen reduced their target price on Credit Acceptance from $465.00 to $420.00 and set a “sell” rating on the stock 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 given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $402.33.
Check Out Our Latest Report 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.
Further Reading
- Five stocks we like better than Credit Acceptance
- Buy P&G Now, Before It Sets A New All-Time High
- AbbVie Analysts Lead the Stock Higher as Humira Worries Recede
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- Harley-Davidson Stock Revs Up With Billion Dollar Buyback Program
- NYSE Stocks Give Investors a Variety of Quality OptionsĀ
- Cruise Line Stock Sinks Despite Beating EPS and Raised Guidance
Want to see what other hedge funds are holding CACC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credit Acceptance Co. (NASDAQ:CACC – Free Report).
Receive News & Ratings for Credit Acceptance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credit Acceptance and related companies with MarketBeat.com's FREE daily email newsletter.