Credit Acceptance Corporation $CACC Shares Sold by Cerity Partners LLC

Cerity Partners LLC trimmed its position in Credit Acceptance Corporation (NASDAQ:CACC) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 786,833 shares of the credit services provider’s stock after selling 9,730 shares during the quarter. Cerity Partners LLC owned about 7.13% of Credit Acceptance worth $348,929,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CACC. Royal Bank of Canada boosted its holdings in Credit Acceptance by 31.6% in the 1st quarter. Royal Bank of Canada now owns 1,916 shares of the credit services provider’s stock valued at $989,000 after purchasing an additional 460 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Credit Acceptance by 230.6% in the 1st quarter. AQR Capital Management LLC now owns 7,885 shares of the credit services provider’s stock valued at $3,961,000 after purchasing an additional 5,500 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Credit Acceptance by 3.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 23,886 shares of the credit services provider’s stock valued at $12,334,000 after purchasing an additional 900 shares during the last quarter. Creative Planning boosted its holdings in Credit Acceptance by 35.6% in the 2nd quarter. Creative Planning now owns 529 shares of the credit services provider’s stock valued at $269,000 after purchasing an additional 139 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Credit Acceptance by 4.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,077 shares of the credit services provider’s stock valued at $2,586,000 after purchasing an additional 232 shares during the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Credit Acceptance Price Performance

Credit Acceptance stock opened at $562.66 on Tuesday. The company’s 50 day simple moving average is $511.54 and its 200-day simple moving average is $483.29. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 13.98 and a beta of 1.38. Credit Acceptance Corporation has a 1 year low of $401.90 and a 1 year high of $579.79. The company has a debt-to-equity ratio of 4.09, a quick ratio of 13.62 and a current ratio of 13.62.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $10.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.73 by ($0.02). The company had revenue of $406.00 million during the quarter, compared to analysts’ expectations of $580.77 million. Credit Acceptance had a net margin of 19.49% and a return on equity of 29.95%. Credit Acceptance’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $9.35 earnings per share. As a group, equities research analysts expect that Credit Acceptance Corporation will post 47.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

CACC has been the topic of several recent analyst reports. TD Cowen boosted their target price on shares of Credit Acceptance from $450.00 to $500.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Zacks Research downgraded shares of Credit Acceptance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Stephens boosted their price target on shares of Credit Acceptance from $450.00 to $540.00 and gave the company an “equal weight” rating in a research note on Friday, April 17th. Finally, Weiss Ratings raised shares of Credit Acceptance from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, Credit Acceptance currently has a consensus rating of “Hold” and a consensus price target of $520.00.

Insider Transactions at Credit Acceptance

In related news, insider Wendy A. Rummler sold 4,062 shares of Credit Acceptance stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $525.67, for a total value of $2,135,271.54. Following the completion of the transaction, the insider owned 19,547 shares in the company, valued at approximately $10,275,271.49. The trade was a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Lum sold 3,000 shares of Credit Acceptance stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $535.00, for a total transaction of $1,605,000.00. Following the completion of the transaction, the chief operating officer owned 31,609 shares of the company’s stock, valued at $16,910,815. This trade represents a 8.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 26,527 shares of company stock valued at $14,203,265. 6.10% of the stock is owned by corporate insiders.

Credit Acceptance 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.