1 week Ago By Defense World Staff
Geode Capital Management LLC grew its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC – Free Report) by 0.0% in the 4th quarter, according to its most recent disclosure with the SEC.
The fund owned 111,414 shares of the credit services provider’s stock after acquiring an additional 35 shares during the period. Geode Capital Management LLC owned about 0.92% of Credit Acceptance worth $52,320,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. FMR LLC raised its position in Credit Acceptance by 13.1% during the 3rd quarter.
FMR LLC now owns 1,037 shares of the credit services provider’s stock worth $460,000 after purchasing an additional 120 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Credit Acceptance by 5.7% during the third quarter.
HighTower Advisors LLC now owns 595 shares of the credit services provider’s stock worth $263,000 after acquiring an additional 32 shares during the last quarter. Barclays PLC lifted its stake in shares of Credit Acceptance by 85.8% in the third quarter.
Barclays PLC now owns 5,241 shares of the credit services provider’s stock worth $2,324,000 after acquiring an additional 2,420 shares during the period. Oddo BHF Asset Management Sas bought a new stake in Credit Acceptance in the third quarter valued at approximately $3,020,000. Finally, JPMorgan Chase & Co.
increased its position in Credit Acceptance by 3.0% during the 3rd quarter. JPMorgan Chase & Co.
now owns 4,082 shares of the credit services provider’s stock valued at $1,810,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds own 81.71% of the company’s stock.
Insider ActivityIn related news, insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction on 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 sale, the insider now owns 3,112 shares of the company’s stock, valued at approximately $1,605,698.
64. This trade represents a 49.08 % decrease in their position.
The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicholas J. Elliott sold 300 shares of the company’s 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 transaction, the insider now owns 19,385 shares in the company, valued at approximately $9,731,270. The trade was a 1.52 % decrease in their position.
The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.
Analysts Set New Price TargetsA number of research firms have recently commented on CACC. Stephens upped their price objective on shares of 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 raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st.
Check Out Our Latest Stock Report on Credit AcceptanceCredit Acceptance Price PerformanceCredit Acceptance stock opened at $493.19 on Monday. The stock has a market capitalization of $5.
93 billion, a price-to-earnings ratio of 24.83 and a beta of 1.27.
Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $614.
96. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.
33 and a current ratio of 20.33. The stock’s 50 day moving average price is $496.
12 and its two-hundred day moving average price is $479.30. Credit Acceptance (NASDAQ:CACC – Get Free Report) last issued its earnings results on Thursday, January 30th.
The credit services provider reported $10.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.70 by $2.
47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.
01%. On average, equities analysts predict that Credit Acceptance Co. will post 53.
24 earnings per share for the current year. Credit Acceptance Company Profile (Free Report)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.
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