Credit Acceptance Co. (NASDAQ:CACC) Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC increased its position in shares of Credit Acceptance Co. (NASDAQ:CACC) by 11.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,340 shares of the credit services provider’s stock after buying an additional 343 shares during the period. Janus Henderson Group PLC’s holdings in Credit Acceptance were worth $1,481,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its position in shares of Credit Acceptance by 5.7% during the 3rd quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider’s stock worth $263,000 after buying an additional 32 shares during the last quarter. Centiva Capital LP acquired a new stake in shares of Credit Acceptance during the third quarter worth about $412,000. ClearAlpha Technologies LP acquired a new stake in shares of Credit Acceptance in the 3rd quarter valued at about $289,000. Ascent Group LLC grew its stake in Credit Acceptance by 10.5% during the 3rd quarter. Ascent Group LLC now owns 6,189 shares of the credit services provider’s stock worth $2,744,000 after buying an additional 587 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Credit Acceptance in the third quarter valued at approximately $177,000. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CACC shares. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Stephens assumed coverage on shares of Credit Acceptance in a research note on Wednesday, November 13th. They set an “equal weight” rating and a $452.00 target price for the company. Finally, TD Cowen dropped their price target on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a research report on Friday, November 1st.

Credit Acceptance Stock Performance

NASDAQ:CACC opened at $485.59 on Friday. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 32.61 and a beta of 1.46. The firm’s fifty day moving average price is $464.72 and its 200 day moving average price is $479.68. 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 earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, beating the consensus estimate of $7.88 by $0.91. The business had revenue of $550.30 million for the quarter, compared to the consensus estimate of $548.13 million. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.70 earnings per share. On average, sell-side analysts expect that Credit Acceptance Co. will post 36.54 EPS for the current year.

Credit Acceptance Company 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.