Credit Acceptance Co. (NASDAQ:CACC) Shares Purchased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its stake in Credit Acceptance Co. (NASDAQ:CACC) by 16.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,184 shares of the credit services provider’s stock after purchasing an additional 441 shares during the period. EverSource Wealth Advisors LLC’s holdings in Credit Acceptance were worth $1,412,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CACC. Smead Capital Management Inc. boosted its position in Credit Acceptance by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider’s stock valued at $92,155,000 after buying an additional 7,012 shares during the period. Quest Partners LLC boosted its position in Credit Acceptance by 11,900.0% in the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock valued at $53,000 after buying an additional 119 shares during the period. GSA Capital Partners LLP purchased a new position in Credit Acceptance in the 3rd quarter valued at approximately $471,000. Lountzis Asset Management LLC raised its stake in Credit Acceptance by 22.3% during the 3rd quarter. Lountzis Asset Management LLC now owns 598 shares of the credit services provider’s stock worth $265,000 after acquiring an additional 109 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in Credit Acceptance by 7.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 4,163 shares of the credit services provider’s stock worth $1,846,000 after acquiring an additional 275 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Insider Buying and Selling

In other news, insider Thomas W. Smith sold 1,200 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $451.01, for a total value of $541,212.00. Following the completion of the sale, the insider now owns 74,450 shares of the company’s stock, valued at $33,577,694.50. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CACC has been the topic of several research analyst reports. TD Cowen cut their price target on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Stephens assumed coverage on shares of Credit Acceptance in a research note on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price objective on the stock.

Credit Acceptance Stock Performance

Shares of CACC opened at $447.57 on Thursday. The company has a debt-to-equity ratio of 3.79, a quick ratio of 23.63 and a current ratio of 23.63. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 30.06 and a beta of 1.42. The company’s 50 day simple moving average is $450.10 and its 200 day simple moving average is $481.78. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $616.66.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, topping the consensus estimate of $7.88 by $0.91. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The firm had revenue of $550.30 million during the quarter, compared to analyst estimates of $548.13 million. During the same quarter in the prior year, the business posted $10.70 earnings per share. Credit Acceptance’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts predict that Credit Acceptance Co. will post 37.14 EPS for the current year.

Credit Acceptance Profile

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.