Oppenheimer Asset Management Inc. boosted its position in Credit Acceptance Corp. (NASDAQ:CACC) by 11.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,479 shares of the credit services provider’s stock after acquiring an additional 156 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Credit Acceptance were worth $682,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Campbell & CO Investment Adviser LLC boosted its holdings in Credit Acceptance by 7.6% in the second quarter. Campbell & CO Investment Adviser LLC now owns 624 shares of the credit services provider’s stock worth $302,000 after acquiring an additional 44 shares in the last quarter. AGF Investments LLC lifted its holdings in shares of Credit Acceptance by 1.1% in the second quarter. AGF Investments LLC now owns 4,122 shares of the credit services provider’s stock valued at $1,994,000 after purchasing an additional 45 shares in the last quarter. Hanson & Doremus Investment Management bought a new position in shares of Credit Acceptance in the second quarter valued at approximately $26,000. Eqis Capital Management Inc. lifted its holdings in shares of Credit Acceptance by 2.3% in the second quarter. Eqis Capital Management Inc. now owns 2,844 shares of the credit services provider’s stock valued at $1,376,000 after purchasing an additional 63 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Credit Acceptance by 13.3% in the second quarter. Meeder Asset Management Inc. now owns 547 shares of the credit services provider’s stock valued at $266,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 60.21% of the company’s stock.
CACC has been the topic of a number of recent research reports. BidaskClub lowered Credit Acceptance from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 30th. Credit Suisse Group set a $380.00 target price on Credit Acceptance and gave the company an “underperform” rating in a report on Wednesday, July 31st. BTIG Research restated a “sell” rating and issued a $340.00 target price on shares of Credit Acceptance in a report on Wednesday, July 31st. BMO Capital Markets dropped their target price on Credit Acceptance to $472.00 and set an “in-line” rating on the stock in a report on Tuesday, November 5th. Finally, ValuEngine upgraded Credit Acceptance from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $408.33.
CACC stock opened at $433.25 on Friday. The firm has a market capitalization of $8.09 billion, a PE ratio of 15.26, a P/E/G ratio of 1.24 and a beta of 0.70. Credit Acceptance Corp. has a twelve month low of $356.12 and a twelve month high of $509.99. The stock’s 50 day moving average is $452.14 and its 200-day moving average is $470.32. The company has a quick ratio of 28.16, a current ratio of 29.49 and a debt-to-equity ratio of 1.75.
Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Friday, November 1st. The credit services provider reported $8.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.86 by $0.03. The company had revenue of $378.70 million during the quarter, compared to analyst estimates of $380.69 million. Credit Acceptance had a return on equity of 29.54% and a net margin of 44.69%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company earned $7.56 earnings per share. On average, equities research analysts anticipate that Credit Acceptance Corp. will post 34.59 earnings per share for the current fiscal year.
Credit Acceptance Company Profile
Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.
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