Quantbot Technologies LP Purchases 14,586 Shares of Credit Acceptance Corporation $CACC

Quantbot Technologies LP increased its holdings in shares of Credit Acceptance Corporation (NASDAQ:CACC) by 9,533.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,739 shares of the credit services provider’s stock after acquiring an additional 14,586 shares during the period. Quantbot Technologies LP owned about 0.13% of Credit Acceptance worth $7,508,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Credit Acceptance during the first quarter worth $44,000. US Bancorp DE lifted its position in shares of Credit Acceptance by 35.8% during the first quarter. US Bancorp DE now owns 243 shares of the credit services provider’s stock worth $125,000 after purchasing an additional 64 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Credit Acceptance in the first quarter valued at approximately $128,000. Jump Financial LLC bought a new position in Credit Acceptance in the 1st quarter worth approximately $213,000. Finally, Prudential Financial Inc. acquired a new position in Credit Acceptance during the 2nd quarter worth $215,000. Institutional investors own 81.71% of the company’s stock.

Credit Acceptance Trading Up 1.3%

NASDAQ:CACC opened at $466.24 on Wednesday. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 12.34 and a beta of 1.26. Credit Acceptance Corporation has a 1-year low of $401.90 and a 1-year high of $560.00. The business’s 50-day moving average price is $464.28 and its two-hundred day moving average price is $487.43. The company has a current ratio of 15.81, a quick ratio of 15.81 and a debt-to-equity ratio of 3.94.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Thursday, October 30th. The credit services provider reported $10.28 earnings per share for the quarter, beating analysts’ consensus estimates of $9.61 by $0.67. The business had revenue of $405.10 million for the quarter, compared to the consensus estimate of $592.19 million. Credit Acceptance had a net margin of 19.70% and a return on equity of 27.88%. Credit Acceptance’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company posted $9.25 EPS. On average, equities analysts expect that Credit Acceptance Corporation will post 53.24 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Credit Acceptance news, CEO Kenneth Booth sold 4,000 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $506.59, for a total value of $2,026,360.00. Following the completion of the sale, the chief executive officer directly owned 68,116 shares in the company, valued at $34,506,884.44. This represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.60% of the company’s stock.

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.