Universal Beteiligungs und Servicegesellschaft mbH Raises Position in Credit Acceptance Corporation $CACC

Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Credit Acceptance Corporation (NASDAQ:CACC) by 764.8% during the fourth quarter, HoldingsChannel reports. The firm owned 203,879 shares of the credit services provider’s stock after purchasing an additional 180,304 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Credit Acceptance were worth $91,652,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CACC. Royal Bank of Canada raised its position in shares of Credit Acceptance by 31.6% in the 1st quarter. Royal Bank of Canada now owns 1,916 shares of the credit services provider’s stock worth $989,000 after buying an additional 460 shares during the period. AQR Capital Management LLC raised its position in Credit Acceptance by 230.6% in the first quarter. AQR Capital Management LLC now owns 7,885 shares of the credit services provider’s stock valued at $3,961,000 after purchasing an additional 5,500 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Credit Acceptance by 3.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 23,886 shares of the credit services provider’s stock valued at $12,334,000 after purchasing an additional 900 shares during the period. Creative Planning raised its position in Credit Acceptance by 35.6% in the second quarter. Creative Planning now owns 529 shares of the credit services provider’s stock valued at $269,000 after purchasing an additional 139 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Credit Acceptance by 4.8% in the second quarter. JPMorgan Chase & Co. now owns 5,077 shares of the credit services provider’s stock valued at $2,586,000 after purchasing an additional 232 shares during the period. 81.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Kenneth Booth sold 2,000 shares of Credit Acceptance stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $508.00, for a total transaction of $1,016,000.00. Following the sale, the director owned 22,832 shares of the company’s stock, valued at approximately $11,598,656. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Wendy A. Rummler sold 4,062 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $525.67, for a total value of $2,135,271.54. Following the sale, the insider directly owned 19,547 shares in the company, valued at approximately $10,275,271.49. The trade was a 17.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 18,638 shares of company stock valued at $9,536,280. Insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on CACC shares. Stephens raised their target price on Credit Acceptance from $450.00 to $540.00 and gave the company an “equal weight” rating in a research note on Friday, April 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Credit Acceptance in a report on Monday. TD Cowen raised their target price on shares of Credit Acceptance from $460.00 to $470.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Finally, Zacks Research raised shares of Credit Acceptance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Credit Acceptance presently has a consensus rating of “Moderate Buy” and a consensus price target of $505.00.

Credit Acceptance Stock Performance

CACC opened at $521.23 on Wednesday. The business’s 50 day moving average is $473.01 and its 200-day moving average is $467.64. The stock has a market cap of $5.60 billion, a PE ratio of 14.28 and a beta of 1.32. The company has a current ratio of 16.91, a quick ratio of 16.91 and a debt-to-equity ratio of 4.10. Credit Acceptance Corporation has a twelve month low of $401.90 and a twelve month high of $549.75.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Thursday, January 29th. The credit services provider reported $11.35 earnings per share for the quarter, beating analysts’ consensus estimates of $10.30 by $1.05. The company had revenue of $408.20 million for the quarter, compared to analysts’ expectations of $582.63 million. Credit Acceptance had a return on equity of 28.86% and a net margin of 18.29%.The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.17 earnings per share. On average, analysts predict that Credit Acceptance Corporation will post 47 earnings per share for the current year.

Credit Acceptance Company Profile

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.