Quantbot Technologies LP Has $1.14 Million Position in Credit Acceptance Co. (NASDAQ:CACC)

Quantbot Technologies LP lessened its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC) by 20.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,434 shares of the credit services provider’s stock after selling 635 shares during the quarter. Quantbot Technologies LP’s holdings in Credit Acceptance were worth $1,143,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CACC. Eagle Bay Advisors LLC acquired a new position in shares of Credit Acceptance during the 4th quarter worth $28,000. First Horizon Advisors Inc. bought a new stake in Credit Acceptance in the fourth quarter worth $34,000. TD Private Client Wealth LLC acquired a new position in Credit Acceptance during the fourth quarter worth $37,000. Farther Finance Advisors LLC bought a new position in Credit Acceptance during the fourth quarter valued at about $38,000. Finally, Quest Partners LLC lifted its position in shares of Credit Acceptance by 11,900.0% in the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after buying an additional 119 shares during the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on CACC shares. Stephens increased their price objective on Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

Credit Acceptance Trading Up 0.5 %

Shares of CACC stock opened at $514.57 on Wednesday. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $614.96. The firm’s fifty day simple moving average is $499.07 and its 200 day simple moving average is $473.66. The firm has a market capitalization of $6.19 billion, a P/E ratio of 25.91 and a beta of 1.51.

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

Insiders Place Their Bets

In related news, insider Nicholas J. Elliott sold 300 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total value of $150,600.00. Following the completion of the transaction, the insider now directly owns 19,385 shares in the company, valued at approximately $9,731,270. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.30% of the company’s stock.

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.