Marshall Wace LLP Acquires 4,912 Shares of Credit Acceptance Co. (NASDAQ:CACC)

Marshall Wace LLP lifted its stake in Credit Acceptance Co. (NASDAQ:CACC) by 107.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 9,480 shares of the credit services provider’s stock after acquiring an additional 4,912 shares during the period. Marshall Wace LLP’s holdings in Credit Acceptance were worth $4,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in Credit Acceptance in the second quarter worth about $51,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Credit Acceptance in the 1st quarter worth approximately $156,000. MQS Management LLC bought a new stake in Credit Acceptance during the 1st quarter worth approximately $242,000. Headlands Technologies LLC lifted its holdings in Credit Acceptance by 24,850.0% during the second quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock valued at $257,000 after purchasing an additional 497 shares in the last quarter. Finally, FORA Capital LLC bought a new position in shares of Credit Acceptance in the first quarter worth approximately $269,000. 81.71% of the stock is owned by institutional investors.

Credit Acceptance Stock Down 1.1 %

NASDAQ CACC opened at $438.50 on Wednesday. Credit Acceptance Co. has a 12 month low of $379.77 and a 12 month high of $616.66. The company has a current ratio of 19.15, a quick ratio of 19.15 and a debt-to-equity ratio of 3.77. The stock has a market cap of $5.31 billion, a PE ratio of 22.50 and a beta of 1.42. The stock’s 50 day moving average is $471.48 and its 200 day moving average is $504.06.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Wednesday, July 31st. The credit services provider reported $10.29 EPS for the quarter, topping the consensus estimate of $7.20 by $3.09. The firm had revenue of $538.20 million for the quarter, compared to the consensus estimate of $525.03 million. Credit Acceptance had a net margin of 9.01% and a return on equity of 30.77%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.69 earnings per share. Research analysts predict that Credit Acceptance Co. will post 38.87 EPS for the current fiscal year.

Insider Buying and Selling at Credit Acceptance

In other news, insider Thomas W. Smith sold 1,200 shares of Credit Acceptance stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $451.01, for a total value of $541,212.00. Following the sale, the insider now directly owns 74,450 shares of the company’s stock, valued at $33,577,694.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TD Cowen lowered their target price on shares of Credit Acceptance from $440.00 to $400.00 and set a “sell” rating on the stock in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Credit Acceptance has a consensus rating of “Hold” and a consensus target price of $395.67.

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.