Credit Acceptance Co. (NASDAQ:CACC) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its stake in Credit Acceptance Co. (NASDAQ:CACC) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,407 shares of the credit services provider’s stock after selling 110 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Credit Acceptance were worth $1,067,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kovitz Investment Group Partners LLC acquired a new stake in shares of Credit Acceptance in the 3rd quarter worth approximately $245,000. Janus Henderson Group PLC lifted its position in Credit Acceptance by 11.4% in the third quarter. Janus Henderson Group PLC now owns 3,340 shares of the credit services provider’s stock worth $1,481,000 after purchasing an additional 343 shares during the period. HighTower Advisors LLC boosted its stake in Credit Acceptance by 5.7% during the 3rd quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider’s stock valued at $263,000 after purchasing an additional 32 shares in the last quarter. Centiva Capital LP bought a new position in Credit Acceptance during the 3rd quarter valued at $412,000. Finally, ClearAlpha Technologies LP acquired a new position in shares of Credit Acceptance during the 3rd quarter valued at $289,000. Institutional investors own 81.71% of the company’s stock.

Analyst Upgrades and Downgrades

CACC has been the subject of several research analyst reports. Stephens initiated coverage on 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. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, TD Cowen dropped their target price on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a report on Friday, November 1st.

Insider Transactions at Credit Acceptance

In related news, COO Jonathan Lum sold 552 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total value of $270,424.80. Following the completion of the transaction, the chief operating officer now owns 31,493 shares of the company’s stock, valued at approximately $15,428,420.70. This trade represents a 1.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.30% of the stock is currently owned by insiders.

Credit Acceptance Stock Performance

CACC opened at $460.99 on Friday. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79. The firm has a market cap of $5.58 billion, a PE ratio of 30.96 and a beta of 1.46. The business has a fifty day simple moving average of $467.20 and a 200-day simple moving average of $479.51. Credit Acceptance Co. has a fifty-two week low of $409.22 and a fifty-two week high of $616.66.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, beating analysts’ consensus estimates of $7.88 by $0.91. The business had revenue of $550.30 million during the quarter, compared to analyst estimates of $548.13 million. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. Credit Acceptance’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the company posted $10.70 EPS. As a group, equities analysts predict that Credit Acceptance Co. will post 36.54 EPS for the current fiscal 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.