Hyperion Capital Advisors LP Sells 2,266 Shares of Credit Acceptance Corporation $CACC

Hyperion Capital Advisors LP decreased its position in Credit Acceptance Corporation (NASDAQ:CACC) by 12.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 16,214 shares of the credit services provider’s stock after selling 2,266 shares during the period. Credit Acceptance comprises 3.5% of Hyperion Capital Advisors LP’s portfolio, making the stock its 12th biggest position. Hyperion Capital Advisors LP owned about 0.15% of Credit Acceptance worth $7,190,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its stake in Credit Acceptance by 4.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 571 shares of the credit services provider’s stock valued at $253,000 after purchasing an additional 25 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Credit Acceptance by 5.3% during the third quarter. Russell Investments Group Ltd. now owns 721 shares of the credit services provider’s stock worth $337,000 after buying an additional 36 shares during the last quarter. Greenline Partners LLC increased its holdings in Credit Acceptance by 0.3% during the third quarter. Greenline Partners LLC now owns 13,450 shares of the credit services provider’s stock worth $6,280,000 after buying an additional 36 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Credit Acceptance by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 1,929 shares of the credit services provider’s stock worth $983,000 after buying an additional 38 shares during the last quarter. Finally, Creative Planning increased its holdings in Credit Acceptance by 8.1% during the third quarter. Creative Planning now owns 572 shares of the credit services provider’s stock worth $267,000 after buying an additional 43 shares during the last quarter. 81.71% of the stock is currently owned by institutional investors.

Insider Activity at Credit Acceptance

In other news, major shareholder Jill Foss Watson sold 9,450 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $538.52, for a total transaction of $5,089,014.00. Following the transaction, the insider owned 92,107 shares in the company, valued at approximately $49,601,461.64. This trade represents a 9.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wendy A. Rummler sold 4,062 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $525.67, for a total value of $2,135,271.54. Following the transaction, the insider owned 19,547 shares in the company, valued at approximately $10,275,271.49. This trade represents a 17.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 26,527 shares of company stock valued at $14,203,265 in the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

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

Credit Acceptance Stock Performance

NASDAQ CACC opened at $548.15 on Friday. The firm has a 50-day moving average of $522.33 and a 200-day moving average of $486.63. The company has a debt-to-equity ratio of 4.09, a quick ratio of 13.62 and a current ratio of 13.62. The stock has a market cap of $5.73 billion, a PE ratio of 13.62 and a beta of 1.38. Credit Acceptance Corporation has a 52-week low of $401.90 and a 52-week high of $579.79.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data 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 firm had revenue of $406.00 million for the quarter, compared to the consensus estimate of $580.77 million. Credit Acceptance had a return on equity of 29.95% and a net margin of 19.49%.The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.35 EPS. On average, sell-side analysts anticipate that Credit Acceptance Corporation will post 47.5 EPS for the current year.

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.