Credit Acceptance Co. (NASDAQ:CACC – Get Free Report) shares gapped down before the market opened on Thursday after TD Cowen lowered their price target on the stock from $440.00 to $400.00. The stock had previously closed at $574.90, but opened at $525.00. TD Cowen currently has a sell rating on the stock. Credit Acceptance shares last traded at $524.20, with a volume of 20,815 shares trading hands.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. nVerses Capital LLC acquired a new position in shares of Credit Acceptance during the 2nd quarter valued at about $51,000. National Bank of Canada FI boosted its holdings in Credit Acceptance by 242.3% in the 4th quarter. National Bank of Canada FI now owns 243 shares of the credit services provider’s stock valued at $131,000 after purchasing an additional 172 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Credit Acceptance in the 1st quarter worth $156,000. Panagora Asset Management Inc. bought a new position in shares of Credit Acceptance during the 4th quarter worth about $210,000. Finally, Beacon Pointe Advisors LLC bought a new position in shares of Credit Acceptance during the 4th quarter worth about $211,000. Institutional investors own 81.71% of the company’s stock.
Credit Acceptance Price Performance
The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 24.63 and a beta of 1.44. The stock’s 50-day moving average price is $518.92 and its 200 day moving average price is $532.30. The company has a quick ratio of 13.79, a current ratio of 19.15 and a debt-to-equity ratio of 3.77.
About Credit Acceptance
Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.
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