Man Group plc Boosts Stock Holdings in Credit Acceptance Co. (NASDAQ:CACC)

Man Group plc grew its position in shares of Credit Acceptance Co. (NASDAQ:CACC) by 50.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,327 shares of the credit services provider’s stock after acquiring an additional 1,783 shares during the quarter. Man Group plc’s holdings in Credit Acceptance were worth $2,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. purchased a new position in Credit Acceptance during the 4th quarter worth $34,000. TD Private Client Wealth LLC purchased a new position in Credit Acceptance during the 4th quarter worth $37,000. Farther Finance Advisors LLC purchased a new position in Credit Acceptance during the 4th quarter worth $38,000. US Bancorp DE boosted its holdings in shares of Credit Acceptance by 50.4% in the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock worth $84,000 after buying an additional 60 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its holdings in shares of Credit Acceptance by 245.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 256 shares of the credit services provider’s stock worth $120,000 after buying an additional 182 shares during the last quarter. 81.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Credit Acceptance

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stephens boosted their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Wall Street Zen raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

Credit Acceptance Price Performance

Shares of NASDAQ:CACC opened at $481.46 on Friday. The company’s 50-day moving average is $490.97 and its 200 day moving average is $485.20. 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 company has a market capitalization of $5.59 billion, a P/E ratio of 24.24 and a beta of 1.23. Credit Acceptance Co. has a fifty-two week low of $409.22 and a fifty-two week high of $614.96.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share 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 company had revenue of $571.10 million during the quarter, compared to analysts’ expectations of $570.25 million. During the same period last year, the firm posted $9.28 earnings per share. Credit Acceptance’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts forecast that Credit Acceptance Co. will post 53.24 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.