AlphaQuest LLC Raises Stock Position in Credit Acceptance Co. (NASDAQ:CACC)

AlphaQuest LLC grew its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 759.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,031 shares of the credit services provider’s stock after buying an additional 911 shares during the period. AlphaQuest LLC’s holdings in Credit Acceptance were worth $484,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. HighTower Advisors LLC grew its stake in shares of Credit Acceptance by 5.7% in the 3rd quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider’s stock worth $263,000 after buying an additional 32 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Credit Acceptance in the 4th quarter worth $28,000. US Bancorp DE lifted its holdings in shares of Credit Acceptance by 50.4% in the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock worth $84,000 after acquiring an additional 60 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Credit Acceptance by 2.7% in the 4th quarter. Wedge Capital Management L L P NC now owns 2,687 shares of the credit services provider’s stock worth $1,261,000 after acquiring an additional 70 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Credit Acceptance by 10.7% in the 4th quarter. UMB Bank n.a. now owns 743 shares of the credit services provider’s stock worth $349,000 after acquiring an additional 72 shares during the last quarter. 81.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Credit Acceptance

In other news, COO Jonathan Lum sold 552 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total value of $270,424.80. Following the completion of the sale, the chief operating officer now owns 31,493 shares in the company, valued at approximately $15,428,420.70. The trade was a 1.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.30% of the stock is currently owned by company insiders.

Credit Acceptance Price Performance

Credit Acceptance stock opened at $474.55 on Thursday. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $614.96. The firm has a 50-day moving average price of $493.01 and a 200-day moving average price of $471.73. The firm has a market capitalization of $5.71 billion, a PE ratio of 23.89 and a beta of 1.51. 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 (NASDAQ:CACC) last announced its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 earnings per share 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, equities research analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current year.

Wall Street Analysts Forecast Growth

CACC has been the subject of several analyst reports. Stephens raised their target price on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

Credit Acceptance Company 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.