Dimensional Fund Advisors LP Purchases 6,843 Shares of Credit Acceptance Corporation $CACC

Dimensional Fund Advisors LP lifted its position in shares of Credit Acceptance Corporation (NASDAQ:CACC) by 3.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 230,715 shares of the credit services provider’s stock after buying an additional 6,843 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Credit Acceptance were worth $97,701,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CACC. M&T Bank Corp purchased a new stake in Credit Acceptance in the 4th quarter worth $208,294,000. Boston Partners lifted its position in shares of Credit Acceptance by 3.4% in the fourth quarter. Boston Partners now owns 456,253 shares of the credit services provider’s stock valued at $202,373,000 after acquiring an additional 14,877 shares in the last quarter. Smead Capital Management Inc. lifted its position in shares of Credit Acceptance by 17.0% in the second quarter. Smead Capital Management Inc. now owns 216,811 shares of the credit services provider’s stock valued at $110,450,000 after acquiring an additional 31,438 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Credit Acceptance by 764.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 203,879 shares of the credit services provider’s stock worth $91,652,000 after acquiring an additional 180,304 shares during the period. Finally, Smith Thomas W bought a new position in shares of Credit Acceptance in the fourth quarter worth about $42,083,000. Institutional investors own 81.71% of the company’s stock.

Credit Acceptance Stock Performance

Shares of NASDAQ CACC opened at $556.71 on Thursday. The company has a market cap of $5.82 billion, a P/E ratio of 13.83 and a beta of 1.36. Credit Acceptance Corporation has a 52-week low of $401.90 and a 52-week high of $668.86. The company has a debt-to-equity ratio of 4.09, a quick ratio of 13.62 and a current ratio of 13.62. The firm’s fifty day moving average is $590.74 and its two-hundred day moving average is $521.88.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $10.71 EPS for the quarter, missing the consensus estimate of $10.73 by ($0.02). The company had revenue of $406.00 million for the quarter, compared to the consensus estimate of $580.77 million. Credit Acceptance had a net margin of 19.49% and a return on equity of 29.95%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the company earned $9.35 EPS. As a group, analysts anticipate that Credit Acceptance Corporation will post 47.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CACC has been the subject of several research analyst reports. Stephens increased their target price on Credit Acceptance from $450.00 to $540.00 and gave the stock an “equal weight” rating in a research report on Friday, April 17th. TD Cowen boosted their price target on Credit Acceptance from $500.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. Zacks Research downgraded Credit Acceptance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Credit Acceptance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Credit Acceptance presently has an average rating of “Hold” and an average price target of $557.50.

Insider Transactions at Credit Acceptance

In related news, major shareholder Jill Foss Watson sold 11,000 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $653.24, for a total value of $7,185,640.00. Following the sale, the insider directly owned 49,346 shares in the company, valued at approximately $32,234,781.04. The trade was a 18.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Erin J. Kerber sold 5,720 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $629.80, for a total value of $3,602,456.00. Following the transaction, the insider directly owned 25,711 shares of the company’s stock, valued at approximately $16,192,787.80. The trade was a 18.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 47,304 shares of company stock valued at $29,186,331. 6.10% of the stock is owned by insiders.

About Credit Acceptance

Credit Acceptance Corporation, founded in 1972 and headquartered in Southfield, Michigan, is a specialty finance company focused on the indirect automotive lending market. The company partners with independent and franchised auto dealers to facilitate purchase financing for consumers who may not qualify for traditional prime auto loans. By purchasing retail installment contracts originated by these dealers, Credit Acceptance provides capital and credit insurance to support vehicle sales, enabling dealers to broaden their customer base and reduce credit risk.

Through its proprietary underwriting platform and risk management strategies, Credit Acceptance evaluates borrower applications, structures credit plans, and retains servicing rights on the acquired contracts.