JLB & Associates Inc. Trims Stock Position in Credit Acceptance Co. (NASDAQ:CACC)

JLB & Associates Inc. reduced its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 40.9% during the fourth quarter, Holdings Channel reports. The firm owned 571 shares of the credit services provider’s stock after selling 395 shares during the quarter. JLB & Associates Inc.’s holdings in Credit Acceptance were worth $268,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Eagle Bay Advisors LLC purchased a new stake in shares of Credit Acceptance in the 4th quarter worth about $28,000. Quest Partners LLC boosted its stake in Credit Acceptance by 11,900.0% during the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after acquiring an additional 119 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Credit Acceptance in the fourth quarter worth about $142,000. Point72 Hong Kong Ltd bought a new position in shares of Credit Acceptance during the third quarter valued at approximately $177,000. Finally, Principal Securities Inc. purchased a new position in shares of Credit Acceptance during the fourth quarter valued at approximately $197,000. 81.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Jonathan Lum sold 552 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total transaction of $270,424.80. Following the completion of the sale, the chief operating officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.30% of the stock is currently owned by company insiders.

Credit Acceptance Trading Down 1.7 %

Shares of CACC stock opened at $513.69 on Friday. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $614.96. The firm has a fifty day moving average price of $490.41 and a 200-day moving average price of $469.76. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 25.87 and a beta of 1.47. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, topping the consensus estimate of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. As a group, equities analysts predict that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. TD Cowen cut their target price on 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 raised Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Finally, Stephens increased their target price on Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a report on Friday, January 31st.

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.