Credit Acceptance (NASDAQ:CACC) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Credit Acceptance (NASDAQ:CACCFree Report) from a buy rating to a hold rating in a research report sent to investors on Friday.

Other equities analysts have also issued reports about the company. BMO Capital Markets reduced their price objective on Credit Acceptance from $354.00 to $347.00 and set a market perform rating for the company in a report on Tuesday, October 31st. TD Cowen began coverage on Credit Acceptance in a report on Wednesday, November 1st. They set an underperform rating and a $360.00 price objective for the company. TheStreet raised Credit Acceptance from a c+ rating to a b- rating in a report on Wednesday, December 13th. Finally, Stephens reissued an equal weight rating and set a $440.00 price objective on shares of Credit Acceptance in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, Credit Acceptance currently has a consensus rating of Hold and an average price target of $381.75.

Check Out Our Latest Analysis on CACC

Credit Acceptance Stock Performance

CACC stock opened at $560.83 on Friday. The firm has a market cap of $7.05 billion, a PE ratio of 25.47 and a beta of 1.48. The company has a quick ratio of 18.50, a current ratio of 18.50 and a debt-to-equity ratio of 2.84. The business has a 50 day moving average of $526.88 and a 200-day moving average of $484.58. Credit Acceptance has a 12-month low of $379.77 and a 12-month high of $616.66.

Insider Transactions at Credit Acceptance

In other news, insider Douglas W. Busk sold 500 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $579.98, for a total value of $289,990.00. Following the completion of the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at $1,804,897.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Credit Acceptance

Institutional investors and hedge funds have recently made changes to their positions in the business. National Bank of Canada FI raised its position in shares of Credit Acceptance by 48.0% in the second quarter. National Bank of Canada FI now owns 74 shares of the credit services provider’s stock worth $38,000 after buying an additional 24 shares in the last quarter. AdvisorNet Financial Inc purchased a new stake in shares of Credit Acceptance in the third quarter worth $46,000. NewEdge Advisors LLC raised its position in shares of Credit Acceptance by 289.7% in the first quarter. NewEdge Advisors LLC now owns 113 shares of the credit services provider’s stock worth $49,000 after buying an additional 84 shares in the last quarter. Whittier Trust Co. purchased a new stake in shares of Credit Acceptance in the fourth quarter worth $74,000. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Credit Acceptance by 217.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 146 shares of the credit services provider’s stock worth $78,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.

Credit Acceptance Company Profile

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Credit Acceptance Corporation engages in the provision of financing programs, and related products and services to independent and franchised automobile dealers 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.

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