Credit Acceptance Co. (NASDAQ:CACC) Shares Sold by RV Capital AG

RV Capital AG trimmed its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 1.9% during the fourth quarter, Holdings Channel reports. The firm owned 131,588 shares of the credit services provider’s stock after selling 2,600 shares during the quarter. Credit Acceptance comprises about 13.2% of RV Capital AG’s holdings, making the stock its 4th largest position. RV Capital AG’s holdings in Credit Acceptance were worth $61,775,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CACC. Abrams Bison Investments LLC boosted its position in shares of Credit Acceptance by 30.5% during the 3rd quarter. Abrams Bison Investments LLC now owns 228,306 shares of the credit services provider’s stock worth $101,235,000 after purchasing an additional 53,306 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Credit Acceptance by 24.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,051 shares of the credit services provider’s stock valued at $41,704,000 after acquiring an additional 18,530 shares during the period. MIG Capital LLC increased its holdings in shares of Credit Acceptance by 18.7% during the third quarter. MIG Capital LLC now owns 116,491 shares of the credit services provider’s stock valued at $51,654,000 after acquiring an additional 18,351 shares in the last quarter. Smead Capital Management Inc. raised its position in shares of Credit Acceptance by 3.5% during the third quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider’s stock worth $92,155,000 after purchasing an additional 7,012 shares during the period. Finally, Oddo BHF Asset Management Sas bought a new position in shares of Credit Acceptance in the 3rd quarter worth $3,020,000. Institutional investors own 81.71% of the company’s stock.

Insider Buying and Selling

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total value of $270,424.80. Following the transaction, the chief operating officer now directly owns 31,493 shares in the company, valued at $15,428,420.70. The trade was a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CACC shares. TD Cowen lowered their price objective on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a report on Friday, November 1st. StockNews.com downgraded Credit Acceptance from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Stephens began coverage on Credit Acceptance in a research note on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price objective for the company.

Credit Acceptance Stock Performance

Shares of CACC stock opened at $523.55 on Monday. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. The firm has a 50-day moving average of $476.50 and a 200-day moving average of $475.15. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $616.66. The company has a market cap of $6.34 billion, a P/E ratio of 35.16 and a beta of 1.46.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, beating the consensus estimate of $7.88 by $0.91. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The firm had revenue of $550.30 million during the quarter, compared to analyst estimates of $548.13 million. During the same quarter last year, the business posted $10.70 EPS. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities research analysts forecast that Credit Acceptance Co. will post 36.53 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.