Y Intercept Hong Kong Ltd Sells 7,667 Shares of Credit Acceptance Corporation $CACC

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Credit Acceptance Corporation (NASDAQ:CACC) by 84.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,361 shares of the credit services provider’s stock after selling 7,667 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Credit Acceptance were worth $635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its stake in Credit Acceptance by 20,200.0% during the third quarter. Farther Finance Advisors LLC now owns 203 shares of the credit services provider’s stock valued at $95,000 after buying an additional 202 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Credit Acceptance in the second quarter worth $150,000. Prudential Financial Inc. bought a new position in shares of Credit Acceptance during the second quarter valued at $215,000. CFC Planning Co LLC purchased a new position in shares of Credit Acceptance in the 3rd quarter worth about $209,000. Finally, SG Americas Securities LLC boosted its stake in Credit Acceptance by 64.0% in the 2nd quarter. SG Americas Securities LLC now owns 456 shares of the credit services provider’s stock worth $232,000 after purchasing an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Credit Acceptance Trading Down 3.0%

Credit Acceptance stock opened at $495.97 on Wednesday. Credit Acceptance Corporation has a one year low of $401.90 and a one year high of $549.75. The business’s fifty day moving average is $461.58 and its 200 day moving average is $474.49. The stock has a market capitalization of $5.47 billion, a PE ratio of 13.59 and a beta of 1.27. The company has a debt-to-equity ratio of 3.94, a current ratio of 15.81 and a quick ratio of 15.81.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Thursday, January 29th. The credit services provider reported $11.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.30 by $1.05. Credit Acceptance had a net margin of 18.29% and a return on equity of 28.46%. The firm had revenue of $408.20 million for the quarter, compared to the consensus estimate of $582.63 million. During the same quarter last year, the firm posted $10.17 EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts predict that Credit Acceptance Corporation will post 53.24 EPS for the current year.

Insider Transactions at Credit Acceptance

In other Credit Acceptance news, insider Wendy A. Rummler sold 5,236 shares of Credit Acceptance stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $493.44, for a total value of $2,583,651.84. Following the completion of the sale, the insider owned 20,772 shares of the company’s stock, valued at approximately $10,249,735.68. The trade was a 20.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

CACC has been the subject of a number of analyst reports. TD Cowen raised their price objective on shares of Credit Acceptance from $460.00 to $470.00 and gave the company a “hold” rating in a research note on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Credit Acceptance in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $470.00.

Credit Acceptance Company Profile

Credit Acceptance Corporation, founded in 1972 and headquartered in Southfield, Michigan, is a specialty finance company focused on the indirect automotive lending market. The company partners with independent and franchised auto dealers to facilitate purchase financing for consumers who may not qualify for traditional prime auto loans. By purchasing retail installment contracts originated by these dealers, Credit Acceptance provides capital and credit insurance to support vehicle sales, enabling dealers to broaden their customer base and reduce credit risk.

Through its proprietary underwriting platform and risk management strategies, Credit Acceptance evaluates borrower applications, structures credit plans, and retains servicing rights on the acquired contracts.