Corton Capital Inc. Invests $323,000 in Credit Acceptance Co. (NASDAQ:CACC)

Corton Capital Inc. bought a new stake in shares of Credit Acceptance Co. (NASDAQ:CACC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 689 shares of the credit services provider’s stock, valued at approximately $323,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CACC. Eagle Bay Advisors LLC acquired a new stake in Credit Acceptance during the fourth quarter worth about $28,000. First Horizon Advisors Inc. bought a new stake in shares of Credit Acceptance in the 4th quarter worth approximately $34,000. TD Private Client Wealth LLC acquired a new stake in shares of Credit Acceptance during the 4th quarter worth approximately $37,000. Farther Finance Advisors LLC bought a new stake in shares of Credit Acceptance during the fourth quarter valued at approximately $38,000. Finally, US Bancorp DE raised its stake in shares of Credit Acceptance by 50.4% in the fourth quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock valued at $84,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CACC. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Stephens increased their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st.

Insider Activity at Credit Acceptance

In other news, insider Nicholas J. Elliott sold 300 shares of Credit Acceptance stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total value of $150,600.00. Following the completion of the sale, the insider now directly owns 19,385 shares of the company’s stock, valued at approximately $9,731,270. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas W. Busk sold 3,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total value of $1,547,910.00. Following the sale, the insider now owns 3,112 shares of the company’s stock, valued at approximately $1,605,698.64. The trade was a 49.08 % decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.

Credit Acceptance Stock Up 0.4 %

Shares of NASDAQ CACC opened at $498.03 on Wednesday. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $614.96. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. The business has a fifty day moving average of $487.25 and a two-hundred day moving average of $482.28. The stock has a market cap of $5.78 billion, a PE ratio of 25.08 and a beta of 1.23.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $9.35 EPS for the quarter, missing analysts’ consensus estimates of $10.31 by ($0.96). Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. The business had revenue of $571.10 million for the quarter, compared to the consensus estimate of $570.25 million. The firm’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company earned $9.28 earnings per share. As a group, equities research analysts expect that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.

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.