Credit Acceptance Corporation $CACC Position Decreased by Alfreton Capital LLP

Alfreton Capital LLP decreased its position in Credit Acceptance Corporation (NASDAQ:CACC) by 11.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,000 shares of the credit services provider’s stock after selling 15,000 shares during the period. Credit Acceptance makes up about 15.8% of Alfreton Capital LLP’s portfolio, making the stock its 4th biggest holding. Alfreton Capital LLP’s holdings in Credit Acceptance were worth $48,698,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada increased 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 worth $989,000 after buying an additional 460 shares during the period. AQR Capital Management LLC boosted its holdings in Credit Acceptance by 230.6% during the first quarter. AQR Capital Management LLC now owns 7,885 shares of the credit services provider’s stock worth $3,961,000 after buying an additional 5,500 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of 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 in the last quarter. Creative Planning raised 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 worth $269,000 after purchasing an additional 139 shares during the period. Finally, JPMorgan Chase & Co. raised 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 worth $2,586,000 after purchasing an additional 232 shares during the period. Institutional investors and hedge funds own 81.71% of the company’s stock.

Credit Acceptance Price Performance

Credit Acceptance stock opened at $592.57 on Friday. The company has a current ratio of 13.62, a quick ratio of 13.62 and a debt-to-equity ratio of 4.09. The company has a fifty day simple moving average of $590.08 and a 200-day simple moving average of $519.14. The stock has a market cap of $6.20 billion, a P/E ratio of 14.73 and a beta of 1.36. Credit Acceptance Corporation has a 12-month low of $401.90 and a 12-month high of $668.86.

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

Insider Activity

In related news, insider Nicholas J. Elliott sold 2,306 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $629.99, for a total value of $1,452,756.94. Following the completion of the transaction, the insider directly owned 20,897 shares of the company’s stock, valued at $13,164,901.03. This represents a 9.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Lum sold 6,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $600.00, for a total value of $3,600,000.00. Following the completion of the sale, the chief operating officer directly owned 31,609 shares of the company’s stock, valued at approximately $18,965,400. This trade represents a 15.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 47,304 shares of company stock valued at $29,186,331 over the last 90 days. Insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Stephens upped their price target on shares of Credit Acceptance from $450.00 to $540.00 and gave the stock an “equal weight” rating in a research report on Friday, April 17th. TD Cowen upped their price target on Credit Acceptance from $500.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, July 7th. Zacks Research cut shares of Credit Acceptance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Credit Acceptance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Credit Acceptance has an average rating of “Hold” and an average price target of $557.50.

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.