Credit Acceptance Corporation $CACC Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its stake in shares of Credit Acceptance Corporation (NASDAQ:CACC) by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,764 shares of the credit services provider’s stock after acquiring an additional 3,767 shares during the period. BNP Paribas Financial Markets’ holdings in Credit Acceptance were worth $14,086,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CACC. Allworth Financial LP boosted its stake in shares of Credit Acceptance by 141.9% during the third quarter. Allworth Financial LP now owns 104 shares of the credit services provider’s stock valued at $49,000 after acquiring an additional 61 shares during the last quarter. Vestcor Inc acquired a new stake in Credit Acceptance in the 3rd quarter worth about $50,000. Covestor Ltd boosted its stake in Credit Acceptance by 775.0% in the 4th quarter. Covestor Ltd now owns 175 shares of the credit services provider’s stock worth $78,000 after buying an additional 155 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Credit Acceptance in the 2nd quarter worth about $150,000. Finally, Prudential Financial Inc. acquired a new stake in Credit Acceptance in the 2nd quarter worth about $215,000. Institutional investors and hedge funds own 81.71% of the company’s stock.

Insider Buying and Selling at Credit Acceptance

In related news, COO Jonathan Lum sold 3,000 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $535.00, for a total transaction of $1,605,000.00. Following the sale, the chief operating officer directly owned 31,609 shares in the company, valued at approximately $16,910,815. This trade represents a 8.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Erin J. Kerber sold 1,753 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $551.62, for a total value of $966,989.86. Following the sale, the insider owned 25,711 shares in the company, valued at approximately $14,182,701.82. The trade was a 6.38% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 26,527 shares of company stock worth $14,203,265. Insiders own 6.10% of the company’s stock.

Credit Acceptance Stock Performance

Credit Acceptance stock opened at $544.71 on Monday. The stock’s 50-day moving average is $509.15 and its 200-day moving average is $482.31. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 13.54 and a beta of 1.38. The company has a debt-to-equity ratio of 4.09, a current ratio of 13.62 and a quick ratio of 13.62. Credit Acceptance Corporation has a 12 month low of $401.90 and a 12 month high of $579.79.

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

Analysts Set New Price Targets

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

About Credit Acceptance

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.