Cantillon Capital Management LLC Lowers Stock Position in Credit Acceptance Co. (NASDAQ:CACC)

Cantillon Capital Management LLC cut its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,057 shares of the credit services provider’s stock after selling 6,887 shares during the quarter. Cantillon Capital Management LLC owned approximately 1.87% of Credit Acceptance worth $100,682,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CACC. Janney Montgomery Scott LLC increased its holdings in shares of Credit Acceptance by 27.9% during the first quarter. Janney Montgomery Scott LLC now owns 573 shares of the credit services provider’s stock valued at $316,000 after acquiring an additional 125 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Credit Acceptance by 821.9% in the first quarter. Russell Investments Group Ltd. now owns 3,282 shares of the credit services provider’s stock worth $1,810,000 after buying an additional 2,926 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of Credit Acceptance in the first quarter worth approximately $1,494,000. CANADA LIFE ASSURANCE Co increased its position in shares of Credit Acceptance by 3.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,161 shares of the credit services provider’s stock valued at $1,191,000 after acquiring an additional 72 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Credit Acceptance in the 1st quarter worth approximately $156,000. 81.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Credit Acceptance news, insider Thomas W. Smith sold 1,200 shares of the company’s 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 completion of the sale, the insider now owns 74,450 shares in the company, valued at $33,577,694.50. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 5.30% of the stock is owned by insiders.

Analysts Set New Price Targets

CACC has been the subject of a number of research analyst reports. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Stephens began coverage on Credit Acceptance in a research report on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 target price for the company. Finally, TD Cowen dropped their price target 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.

Credit Acceptance Stock Up 0.1 %

CACC stock opened at $445.96 on Tuesday. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 29.95 and a beta of 1.42. The company has a debt-to-equity ratio of 3.79, a quick ratio of 23.63 and a current ratio of 23.63. The business’s 50-day moving average is $449.16 and its two-hundred day moving average is $482.84. 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 posted its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.88 by $0.91. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The company had revenue of $550.30 million for the quarter, compared to the consensus estimate of $548.13 million. During the same quarter last year, the firm posted $10.70 earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. As a group, analysts forecast that Credit Acceptance Co. will post 37.14 earnings per share for the current year.

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.