Hound Partners LLC boosted its position in shares of Credit Acceptance Corp. (NASDAQ:CACC) by 61.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 921,563 shares of the credit services provider’s stock after purchasing an additional 352,059 shares during the period. Credit Acceptance makes up 7.7% of Hound Partners LLC’s holdings, making the stock its 4th biggest holding. Hound Partners LLC owned 4.77% of Credit Acceptance worth $304,494,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas purchased a new position in Credit Acceptance during the fourth quarter worth about $750,000. Schroder Investment Management Group raised its stake in Credit Acceptance by 5,483.8% during the fourth quarter. Schroder Investment Management Group now owns 206,600 shares of the credit services provider’s stock worth $66,831,000 after purchasing an additional 202,900 shares during the period. California Public Employees Retirement System raised its stake in Credit Acceptance by 12.9% during the fourth quarter. California Public Employees Retirement System now owns 17,113 shares of the credit services provider’s stock worth $5,536,000 after purchasing an additional 1,961 shares during the period. CIBC Asset Management Inc purchased a new position in Credit Acceptance during the fourth quarter worth about $216,000. Finally, Makaira Partners LLC raised its stake in Credit Acceptance by 5.4% during the fourth quarter. Makaira Partners LLC now owns 23,370 shares of the credit services provider’s stock worth $7,560,000 after purchasing an additional 1,200 shares during the period. 69.90% of the stock is currently owned by institutional investors.

In other news, insider John S. Soave sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $337.01, for a total value of $842,525.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.40% of the stock is currently owned by insiders.

CACC has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Credit Acceptance from a “hold” rating to a “sell” rating in a research note on Tuesday, March 27th. ValuEngine downgraded shares of Credit Acceptance from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. Credit Suisse Group reaffirmed an “underperform” rating on shares of Credit Acceptance in a research note on Tuesday, April 10th. Oppenheimer set a $365.00 target price on shares of Credit Acceptance and gave the stock a “buy” rating in a research note on Sunday, May 6th. Finally, BidaskClub raised shares of Credit Acceptance from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 7th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Credit Acceptance currently has a consensus rating of “Hold” and a consensus price target of $290.88.

Credit Acceptance opened at $358.35 on Thursday, Marketbeat reports. The company has a market capitalization of $7.07 billion, a PE ratio of 17.53, a P/E/G ratio of 0.76 and a beta of 0.55. Credit Acceptance Corp. has a 1 year low of $235.58 and a 1 year high of $377.82. The company has a current ratio of 22.16, a quick ratio of 22.16 and a debt-to-equity ratio of 2.07.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Thursday, May 3rd. The credit services provider reported $6.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.19 by ($0.08). The company had revenue of $295.60 million during the quarter, compared to analysts’ expectations of $296.16 million. Credit Acceptance had a net margin of 43.49% and a return on equity of 29.44%. Credit Acceptance’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the firm posted $4.67 earnings per share. research analysts forecast that Credit Acceptance Corp. will post 26.09 EPS for the current year.

Credit Acceptance Company Profile

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

Institutional Ownership by Quarter for Credit Acceptance (NASDAQ:CACC)

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