Oddo BHF Asset Management Sas Purchases Shares of 6,811 Credit Acceptance Co. (NASDAQ:CACC)

Oddo BHF Asset Management Sas acquired a new position in shares of Credit Acceptance Co. (NASDAQ:CACC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,811 shares of the credit services provider’s stock, valued at approximately $3,020,000. Oddo BHF Asset Management Sas owned 0.06% of Credit Acceptance at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. nVerses Capital LLC purchased a new position in Credit Acceptance in the second quarter valued at $51,000. Quest Partners LLC lifted its stake in Credit Acceptance by 11,900.0% during the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after purchasing an additional 119 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Credit Acceptance in the third quarter valued at approximately $177,000. Kovitz Investment Group Partners LLC purchased a new position in Credit Acceptance in the third quarter valued at approximately $245,000. Finally, Headlands Technologies LLC raised its holdings in Credit Acceptance by 24,850.0% during the second quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock worth $257,000 after purchasing an additional 497 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CACC. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. TD Cowen decreased their price objective on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a research note on Friday, November 1st. Finally, Stephens initiated coverage on Credit Acceptance in a research report on Wednesday, November 13th. They set an “equal weight” rating and a $452.00 target price on the stock.

Credit Acceptance Trading Down 2.3 %

Shares of Credit Acceptance stock opened at $485.59 on Friday. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 32.61 and a beta of 1.46. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $616.66. The company’s 50-day simple moving average is $464.72 and its 200-day simple moving average is $479.68. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.88 by $0.91. The company 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%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.70 EPS. As a group, equities research analysts anticipate that Credit Acceptance Co. will post 36.54 earnings per share for the current 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.