Caxton Associates LP Invests $338,000 in Credit Acceptance Co. (NASDAQ:CACC)

Caxton Associates LP purchased a new position in shares of Credit Acceptance Co. (NASDAQ:CACC) 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.

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

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.

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.