XTX Topco Ltd Takes $935,000 Position in Credit Acceptance Corporation $CACC

XTX Topco Ltd bought a new position in shares of Credit Acceptance Corporation (NASDAQ:CACC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,835 shares of the credit services provider’s stock, valued at approximately $935,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Beck Mack & Oliver LLC lifted its position in Credit Acceptance by 1.0% during the first quarter. Beck Mack & Oliver LLC now owns 394,972 shares of the credit services provider’s stock worth $203,944,000 after acquiring an additional 3,734 shares during the last quarter. Alfreton Capital LLP increased its stake in shares of Credit Acceptance by 11.8% during the first quarter. Alfreton Capital LLP now owns 190,000 shares of the credit services provider’s stock worth $98,106,000 after purchasing an additional 20,000 shares during the period. Khrom Capital Management LLC acquired a new stake in Credit Acceptance during the 1st quarter worth approximately $30,639,000. Northern Trust Corp lifted its holdings in Credit Acceptance by 1.1% during the 1st quarter. Northern Trust Corp now owns 38,184 shares of the credit services provider’s stock worth $19,716,000 after purchasing an additional 412 shares during the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC bought a new stake in Credit Acceptance in the 1st quarter valued at $18,481,000. Institutional investors and hedge funds own 81.71% of the company’s stock.

Credit Acceptance Trading Up 2.5%

CACC opened at $461.80 on Monday. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 13.31 and a beta of 1.16. The company has a quick ratio of 22.03, a current ratio of 22.03 and a debt-to-equity ratio of 4.16. Credit Acceptance Corporation has a twelve month low of $401.90 and a twelve month high of $560.00. The company has a 50-day simple moving average of $465.52 and a 200 day simple moving average of $487.97.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Thursday, October 30th. The credit services provider reported $10.28 EPS for the quarter, beating the consensus estimate of $9.61 by $0.67. Credit Acceptance had a net margin of 18.69% and a return on equity of 27.06%. The firm had revenue of $405.10 million for the quarter, compared to analyst estimates of $592.19 million. During the same period last year, the firm earned $9.25 EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts predict that Credit Acceptance Corporation will post 53.24 EPS for the current fiscal year.

Insider Transactions at Credit Acceptance

In other Credit Acceptance news, CEO Kenneth Booth sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $506.59, for a total transaction of $2,026,360.00. Following the completion of the transaction, the chief executive officer directly owned 68,116 shares in the company, valued at $34,506,884.44. The trade was a 5.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CACC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Credit Acceptance in a report on Wednesday, October 8th. Cowen reiterated a “sell” rating on shares of Credit Acceptance in a research note on Friday, October 31st. Finally, TD Cowen decreased their target price on shares of Credit Acceptance from $450.00 to $430.00 and set a “sell” rating on the stock in a research report on Friday, October 31st. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $465.00.

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.