Paralel Advisors LLC Raises Stock Holdings in Credit Acceptance Co. (NASDAQ:CACC)

Paralel Advisors LLC boosted its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,555 shares of the credit services provider’s stock after buying an additional 416 shares during the period. Paralel Advisors LLC’s holdings in Credit Acceptance were worth $2,138,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Eagle Bay Advisors LLC bought a new stake in shares of Credit Acceptance in the fourth quarter worth about $28,000. First Horizon Advisors Inc. purchased a new stake in shares of Credit Acceptance during the 4th quarter worth about $34,000. TD Private Client Wealth LLC acquired a new stake in Credit Acceptance in the 4th quarter valued at about $37,000. Farther Finance Advisors LLC purchased a new position in shares of Credit Acceptance during the 4th quarter worth approximately $38,000. Finally, US Bancorp DE boosted its position in Credit Acceptance by 50.4% in the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock valued at $84,000 after buying an additional 60 shares during the period. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

Credit Acceptance Stock Down 1.1 %

Credit Acceptance stock traded down $5.75 during mid-day trading on Thursday, reaching $495.50. The company’s stock had a trading volume of 492 shares, compared to its average volume of 62,109. The business’s 50 day simple moving average is $496.92 and its 200 day simple moving average is $478.33. Credit Acceptance Co. has a 12 month low of $409.22 and a 12 month high of $614.96. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 24.95 and a beta of 1.27. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 EPS 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, research analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Nicholas J. Elliott sold 300 shares of Credit Acceptance stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total transaction of $150,600.00. Following the completion of the sale, the insider now directly owns 19,385 shares in the company, valued at approximately $9,731,270. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total value of $1,547,910.00. Following the completion of the transaction, the insider now owns 3,112 shares in the company, valued at $1,605,698.64. This trade represents a 49.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

Wall Street Analysts Forecast Growth

CACC has been the topic of a number of analyst reports. Stephens lifted their price target on Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Friday, January 31st.

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.