Two Sigma Advisers LP Grows Stake in Credit Acceptance Co. (NASDAQ:CACC)

Two Sigma Advisers LP lifted its position in Credit Acceptance Co. (NASDAQ:CACC) by 89.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,800 shares of the credit services provider’s stock after purchasing an additional 7,000 shares during the quarter. Two Sigma Advisers LP’s holdings in Credit Acceptance were worth $6,948,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CACC. Vanguard Group Inc. grew its holdings in shares of Credit Acceptance by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 486,828 shares of the credit services provider’s stock worth $228,546,000 after purchasing an additional 5,134 shares in the last quarter. Beck Mack & Oliver LLC lifted its position in Credit Acceptance by 1.6% during the fourth quarter. Beck Mack & Oliver LLC now owns 391,238 shares of the credit services provider’s stock valued at $183,671,000 after purchasing an additional 6,214 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Credit Acceptance by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 183,203 shares of the credit services provider’s stock worth $86,004,000 after buying an additional 1,318 shares in the last quarter. MIG Capital LLC increased its holdings in shares of Credit Acceptance by 8.6% in the 4th quarter. MIG Capital LLC now owns 126,467 shares of the credit services provider’s stock worth $59,371,000 after buying an additional 9,976 shares during the last quarter. Finally, London Co. of Virginia purchased a new stake in shares of Credit Acceptance during the 4th quarter valued at $48,148,000. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Credit Acceptance Stock Down 1.0%

Shares of NASDAQ CACC opened at $476.81 on Friday. The stock has a market capitalization of $5.53 billion, a P/E ratio of 24.01 and a beta of 1.23. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $614.96. The firm’s 50 day simple moving average is $490.79 and its two-hundred day simple moving average is $485.51. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33.

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

Insiders Place Their Bets

In related news, insider Douglas W. Busk sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the transaction, the insider now directly owns 3,112 shares in the company, valued at $1,605,698.64. This trade represents a 49.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas J. Elliott sold 300 shares of Credit Acceptance stock in a transaction that occurred 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 transaction, the insider now directly owns 19,385 shares in the company, valued at $9,731,270. This trade represents a 1.52% 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 insiders.

Analysts Set New Price Targets

CACC has been the subject of a number of research analyst reports. Stephens lifted their price objective 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 Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Friday, January 31st.

Credit Acceptance 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.