Impact Partnership Wealth LLC Takes $441,000 Position in Credit Acceptance Corporation $CACC

Impact Partnership Wealth LLC acquired a new stake in Credit Acceptance Corporation (NASDAQ:CACC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 995 shares of the credit services provider’s stock, valued at approximately $441,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CACC. Allworth Financial LP grew its position in shares of Credit Acceptance by 141.9% in the 3rd quarter. Allworth Financial LP now owns 104 shares of the credit services provider’s stock valued at $49,000 after acquiring an additional 61 shares during the period. Vestcor Inc bought a new position in shares of Credit Acceptance in the 3rd quarter valued at about $50,000. Covestor Ltd grew its position in shares of Credit Acceptance by 775.0% in the 4th quarter. Covestor Ltd now owns 175 shares of the credit services provider’s stock valued at $78,000 after acquiring an additional 155 shares during the period. Raymond James Financial Inc. bought a new position in shares of Credit Acceptance in the 2nd quarter valued at about $150,000. Finally, Prudential Financial Inc. bought a new position in shares of Credit Acceptance in the 2nd quarter valued at about $215,000. Institutional investors own 81.71% of the company’s stock.

Insider Buying and Selling at Credit Acceptance

In related news, insider Erin J. Kerber sold 1,753 shares of Credit Acceptance stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $551.62, for a total transaction of $966,989.86. Following the completion of the sale, the insider owned 25,711 shares of the company’s stock, valued at approximately $14,182,701.82. The trade was a 6.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Lum sold 3,000 shares of Credit Acceptance stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $535.00, for a total transaction of $1,605,000.00. Following the sale, the chief operating officer directly owned 31,609 shares of the company’s stock, valued at $16,910,815. The trade was a 8.67% 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. Insiders have sold a total of 26,527 shares of company stock worth $14,203,265 in the last ninety days. Insiders own 6.10% of the company’s stock.

Credit Acceptance Stock Performance

Shares of CACC stock opened at $573.64 on Friday. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 14.26 and a beta of 1.36. 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 company has a 50-day simple moving average of $498.44 and a 200 day simple moving average of $478.11. Credit Acceptance Corporation has a 52 week low of $401.90 and a 52 week high of $579.80.

Credit Acceptance (NASDAQ:CACC) last announced its earnings results 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 return on equity of 29.95% and a net margin of 19.49%.The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $9.35 EPS. On average, sell-side analysts predict that Credit Acceptance Corporation will post 47.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CACC shares. Zacks Research downgraded shares of Credit Acceptance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. TD Cowen lifted their price objective on shares of Credit Acceptance from $450.00 to $500.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Credit Acceptance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 8th. Finally, Stephens lifted their price objective on shares of Credit Acceptance from $450.00 to $540.00 and gave the company an “equal weight” rating in a research report on Friday, April 17th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $520.00.

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.