Swiss National Bank Has $5.75 Million Position in Credit Acceptance Co. (NASDAQ:CACC)

Swiss National Bank reduced its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,977 shares of the credit services provider’s stock after selling 300 shares during the quarter. Swiss National Bank’s holdings in Credit Acceptance were worth $5,754,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CACC. UMB Bank n.a. grew its position in shares of Credit Acceptance by 4.6% in the 2nd quarter. UMB Bank n.a. now owns 654 shares of the credit services provider’s stock valued at $337,000 after purchasing an additional 29 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in Credit Acceptance by 3.4% in the 1st 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. nVerses Capital LLC bought a new stake in Credit Acceptance in the 2nd quarter valued at approximately $51,000. Wedge Capital Management L L P NC lifted its stake in Credit Acceptance by 4.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 2,617 shares of the credit services provider’s stock valued at $1,160,000 after acquiring an additional 105 shares in the last quarter. Finally, Lountzis Asset Management LLC lifted its stake in Credit Acceptance by 22.3% in the 3rd quarter. Lountzis Asset Management LLC now owns 598 shares of the credit services provider’s stock valued at $265,000 after acquiring an additional 109 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Credit Acceptance Trading Up 2.3 %

Shares of Credit Acceptance stock opened at $494.24 on Thursday. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $616.66. The stock has a market cap of $5.99 billion, a P/E ratio of 33.09 and a beta of 1.42. 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 business’s 50 day moving average is $453.48 and its 200-day moving average is $480.23.

Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, topping analysts’ consensus estimates of $7.88 by $0.91. The business had revenue of $550.30 million for 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%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.70 EPS. Equities research analysts predict that Credit Acceptance Co. will post 37.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Thomas W. Smith sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $451.01, for a total transaction of $541,212.00. Following the transaction, the insider now directly owns 74,450 shares of the company’s stock, valued at approximately $33,577,694.50. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CACC shares. Stephens started coverage on Credit Acceptance in a research note on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 target price on the stock. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, TD Cowen dropped their price objective 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.

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.