Credit Acceptance (NASDAQ:CACC) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Credit Acceptance (NASDAQ:CACC) from a buy rating to a hold rating in a report published on Thursday morning.

A number of other equities research analysts have also recently commented on the company. TD Cowen decreased their price target on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a research note on Friday, November 1st. Stephens began coverage on shares of Credit Acceptance in a research report on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price objective for the company.

Credit Acceptance Stock Down 0.1 %

Shares of CACC stock opened at $523.55 on Thursday. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 35.16 and a beta of 1.46. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. The company’s fifty day moving average price is $476.50 and its 200-day moving average price is $475.56. Credit Acceptance has a one year low of $409.22 and a one year high of $616.66.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.88 by $0.91. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The firm had revenue of $550.30 million for the quarter, compared to the consensus estimate of $548.13 million. During the same quarter in the previous year, the firm earned $10.70 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. Sell-side analysts expect that Credit Acceptance will post 36.53 EPS for the current fiscal year.

Insider Transactions at Credit Acceptance

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total transaction of $270,424.80. Following the completion of the transaction, the chief operating officer now owns 31,493 shares of the company’s stock, valued at $15,428,420.70. This represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CACC. Eagle Bay Advisors LLC acquired a new position in Credit Acceptance during the fourth quarter worth $28,000. Quest Partners LLC boosted its position in shares of Credit Acceptance by 11,900.0% during the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock valued at $53,000 after acquiring an additional 119 shares during the last quarter. nVerses Capital LLC boosted its position in shares of Credit Acceptance by 200.0% during the 3rd quarter. nVerses Capital LLC now owns 300 shares of the credit services provider’s stock valued at $133,000 after acquiring an additional 200 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Credit Acceptance during the fourth quarter worth about $142,000. Finally, Point72 Hong Kong Ltd purchased a new position in Credit Acceptance during the third quarter worth about $177,000. 81.71% of the stock is owned by hedge funds and other institutional investors.

Credit Acceptance Company Profile

Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.