Credit Acceptance Co. (NASDAQ:CACC) Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP increased its position in Credit Acceptance Co. (NASDAQ:CACC) by 148.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,069 shares of the credit services provider’s stock after acquiring an additional 1,835 shares during the period. Quantbot Technologies LP’s holdings in Credit Acceptance were worth $1,361,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Smead Capital Management Inc. increased its holdings in shares of Credit Acceptance by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider’s stock worth $92,155,000 after acquiring an additional 7,012 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Credit Acceptance by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 179,655 shares of the credit services provider’s stock worth $92,455,000 after acquiring an additional 7,064 shares during the period. Alfreton Capital LLP increased its holdings in shares of Credit Acceptance by 22.7% in the 2nd quarter. Alfreton Capital LLP now owns 98,128 shares of the credit services provider’s stock worth $50,505,000 after acquiring an additional 18,128 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Credit Acceptance by 24.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,051 shares of the credit services provider’s stock worth $41,704,000 after acquiring an additional 18,530 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Credit Acceptance by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 23,732 shares of the credit services provider’s stock worth $12,214,000 after acquiring an additional 951 shares during the period. Institutional investors and hedge funds own 81.71% of the company’s stock.

Insider Activity

In other news, insider Thomas W. Smith sold 1,200 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $451.01, for a total transaction of $541,212.00. Following the completion of the transaction, the insider now owns 74,450 shares in the company, valued at approximately $33,577,694.50. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CACC shares. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Stephens started coverage on shares of Credit Acceptance in a research note on Wednesday, November 13th. They set an “equal weight” rating and a $452.00 target price on the stock. Finally, TD Cowen lowered their target price on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a research note on Friday, November 1st.

Credit Acceptance Stock Performance

NASDAQ:CACC opened at $497.70 on Friday. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $616.66. The company has a current ratio of 23.63, a quick ratio of 23.63 and a debt-to-equity ratio of 3.79. The company has a 50-day moving average of $454.97 and a 200-day moving average of $480.42. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 33.43 and a beta of 1.42.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $548.13 million. During the same quarter last year, the firm posted $10.70 EPS. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. Analysts forecast that Credit Acceptance Co. will post 37.14 earnings per share for the current fiscal year.

Credit Acceptance Profile

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.