Jump Financial LLC Grows Stake in Credit Acceptance Corporation $CACC

Jump Financial LLC lifted its stake in Credit Acceptance Corporation (NASDAQ:CACC) by 1,824.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,949 shares of the credit services provider’s stock after acquiring an additional 7,536 shares during the quarter. Jump Financial LLC’s holdings in Credit Acceptance were worth $4,049,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CACC. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Credit Acceptance during the 1st quarter worth approximately $44,000. US Bancorp DE grew its position in Credit Acceptance by 35.8% in the first quarter. US Bancorp DE now owns 243 shares of the credit services provider’s stock valued at $125,000 after acquiring an additional 64 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Credit Acceptance during the first quarter valued at approximately $217,000. Prudential Financial Inc. purchased a new stake in shares of Credit Acceptance during the second quarter valued at approximately $215,000. Finally, Bayforest Capital Ltd acquired a new position in shares of Credit Acceptance during the first quarter worth $225,000. Institutional investors and hedge funds own 81.71% of the company’s stock.

Insider Buying and Selling

In related news, CEO Kenneth Booth sold 4,000 shares of Credit Acceptance 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 transaction, the chief executive officer directly owned 68,116 shares in the company, valued at approximately $34,506,884.44. This trade represents a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

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

Credit Acceptance Stock Up 3.2%

Shares of NASDAQ:CACC opened at $475.16 on Thursday. The firm has a market cap of $5.24 billion, a PE ratio of 12.58 and a beta of 1.26. The company has a fifty day simple moving average of $464.10 and a 200 day simple moving average of $486.51. 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 Corporation has a 12-month low of $401.90 and a 12-month high of $560.00.

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

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.