State of Wisconsin Investment Board Has $574,000 Stake in Credit Acceptance Corporation (CACC)

State of Wisconsin Investment Board lifted its holdings in shares of Credit Acceptance Corporation (NASDAQ:CACC) by 33.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,233 shares of the credit services provider’s stock after purchasing an additional 560 shares during the quarter. State of Wisconsin Investment Board’s holdings in Credit Acceptance Corporation were worth $574,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CACC. Vanguard Group Inc. increased its stake in shares of Credit Acceptance Corporation by 26.9% during the 1st quarter. Vanguard Group Inc. now owns 931,364 shares of the credit services provider’s stock worth $185,723,000 after purchasing an additional 197,463 shares during the last quarter. UBS Group AG increased its stake in shares of Credit Acceptance Corporation by 11,086.9% during the 1st quarter. UBS Group AG now owns 143,975 shares of the credit services provider’s stock worth $28,710,000 after purchasing an additional 142,688 shares during the last quarter. Columbia Wanger Asset Management LLC acquired a new position in shares of Credit Acceptance Corporation during the 1st quarter worth $19,862,000. Schroder Investment Management Group increased its stake in shares of Credit Acceptance Corporation by 81.1% during the 1st quarter. Schroder Investment Management Group now owns 123,762 shares of the credit services provider’s stock worth $24,769,000 after purchasing an additional 55,409 shares during the last quarter. Finally, LMR Partners LLP increased its stake in shares of Credit Acceptance Corporation by 131.6% during the 1st quarter. LMR Partners LLP now owns 94,938 shares of the credit services provider’s stock worth $18,932,000 after purchasing an additional 53,938 shares during the last quarter. Institutional investors own 72.71% of the company’s stock.

In other Credit Acceptance Corporation news, CFO Kenneth Booth sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $273.01, for a total transaction of $546,020.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Jill Foss Watson sold 35,751 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $270.82, for a total transaction of $9,682,085.82. The disclosure for this sale can be found here. Insiders have sold 152,858 shares of company stock worth $41,562,168 over the last ninety days. Insiders own 5.80% of the company’s stock.

Credit Acceptance Corporation (NASDAQ:CACC) opened at 263.78 on Tuesday. The company has a 50-day moving average of $266.06 and a 200-day moving average of $229.36. Credit Acceptance Corporation has a 1-year low of $160.63 and a 1-year high of $281.67. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 14.42 and a beta of 0.50.

Credit Acceptance Corporation (NASDAQ:CACC) last posted its quarterly earnings results on Monday, July 31st. The credit services provider reported $5.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.89 by $0.33. Credit Acceptance Corporation had a net margin of 35.13% and a return on equity of 32.24%. The firm had revenue of $253.20 million for the quarter, compared to analyst estimates of $268.18 million. During the same period in the prior year, the firm posted $4.38 earnings per share. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities analysts predict that Credit Acceptance Corporation will post $19.90 earnings per share for the current year.

Several research analysts have recently commented on CACC shares. Zacks Investment Research upgraded shares of Credit Acceptance Corporation from a “hold” rating to a “buy” rating and set a $310.00 price target on the stock in a research note on Thursday, August 3rd. BidaskClub lowered shares of Credit Acceptance Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC restated a “hold” rating and set a $215.00 price target on shares of Credit Acceptance Corporation in a research note on Friday, July 14th. BMO Capital Markets increased their price target on shares of Credit Acceptance Corporation from $226.00 to $238.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 1st. Finally, Raymond James Financial, Inc. upgraded shares of Credit Acceptance Corporation from an “underperform” rating to a “market perform” rating in a research note on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Credit Acceptance Corporation currently has an average rating of “Hold” and a consensus price target of $222.38.

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Credit Acceptance Corporation Company Profile

Credit Acceptance Corporation offers financing programs that enable automobile dealers to sell vehicles to consumers. The Company’s financing programs are offered through a network of automobile dealers. The Company has two Dealers financing programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, the Company advances money to dealers (Dealer Loan) in exchange for the right to service the underlying consumer loans.

Institutional Ownership by Quarter for Credit Acceptance Corporation (NASDAQ:CACC)

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