1,650 Shares in Credit Acceptance Corporation $CACC Acquired by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC bought a new stake in shares of Credit Acceptance Corporation (NASDAQ:CACC) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,650 shares of the credit services provider’s stock, valued at approximately $1,051,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Two Sigma Securities LLC acquired a new position in shares of Credit Acceptance during the second quarter valued at $811,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Credit Acceptance by 8.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,393 shares of the credit services provider’s stock worth $12,348,000 after purchasing an additional 1,549 shares during the period. Wellington Management Group LLP grew its position in Credit Acceptance by 0.5% in the 2nd quarter. Wellington Management Group LLP now owns 260,084 shares of the credit services provider’s stock valued at $165,606,000 after buying an additional 1,186 shares in the last quarter. Beacon Pointe Advisors LLC bought a new position in Credit Acceptance in the 2nd quarter valued at about $1,097,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Credit Acceptance during the 2nd quarter valued at about $760,000. Institutional investors and hedge funds own 81.71% of the company’s stock.

Credit Acceptance Trading Down 0.9%

Shares of Credit Acceptance stock opened at $594.18 on Wednesday. The business has a fifty day simple moving average of $602.97 and a 200-day simple moving average of $540.66. Credit Acceptance Corporation has a fifty-two week low of $401.90 and a fifty-two week high of $668.86. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of 13.06 and a beta of 1.35. The company has a quick ratio of 14.89, a current ratio of 14.89 and a debt-to-equity ratio of 3.84.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Tuesday, August 4th. The credit services provider reported $12.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.20 by ($0.08). Credit Acceptance had a return on equity of 31.67% and a net margin of 21.54%.The firm had revenue of $415.00 million for the quarter, compared to analyst estimates of $588.07 million. During the same period in the previous year, the firm earned $10.05 earnings per share. Credit Acceptance’s revenue was up .6% on a year-over-year basis. On average, equities analysts forecast that Credit Acceptance Corporation will post 47.8 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings upgraded shares of Credit Acceptance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. TD Cowen increased their price objective on shares of Credit Acceptance from $575.00 to $600.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Finally, Zacks Research lowered shares of Credit Acceptance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Credit Acceptance has a consensus rating of “Hold” and an average target price of $570.00.

Insiders Place Their Bets

In related news, CFO Jay D. Martin sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $601.04, for a total transaction of $1,803,120.00. Following the completion of the sale, the chief financial officer directly owned 25,963 shares of the company’s stock, valued at $15,604,801.52. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Erin J. Kerber sold 5,720 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $629.80, for a total transaction of $3,602,456.00. Following the sale, the insider owned 25,711 shares of the company’s stock, valued at $16,192,787.80. The trade was a 18.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 44,289 shares of company stock worth $27,525,241. Company insiders own 6.10% of the company’s stock.

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.