Credit Acceptance Co. (NASDAQ:CACC) is Hyperion Capital Advisors LP’s 6th Largest Position

Hyperion Capital Advisors LP lowered its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 2.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 27,501 shares of the credit services provider’s stock after selling 738 shares during the period. Credit Acceptance comprises about 5.7% of Hyperion Capital Advisors LP’s portfolio, making the stock its 6th largest holding. Hyperion Capital Advisors LP owned 0.23% of Credit Acceptance worth $12,194,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. nVerses Capital LLC purchased a new position in shares of Credit Acceptance during the 2nd quarter valued at about $51,000. Quest Partners LLC boosted its position in Credit Acceptance by 11,900.0% during the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after purchasing an additional 119 shares in the last quarter. Headlands Technologies LLC grew its holdings in Credit Acceptance by 24,850.0% in the second quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock valued at $257,000 after purchasing an additional 497 shares during the period. Creative Planning purchased a new stake in shares of Credit Acceptance in the second quarter valued at approximately $282,000. Finally, Lountzis Asset Management LLC raised its stake in shares of Credit Acceptance by 22.3% during the 3rd quarter. Lountzis Asset Management LLC now owns 598 shares of the credit services provider’s stock worth $265,000 after buying an additional 109 shares during the period. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. TD Cowen cut their price target on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a report on Friday, November 1st. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Stephens began coverage on Credit Acceptance in a report on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price objective on the stock.

Insider Activity

In related news, insider Thomas W. Smith sold 1,200 shares of Credit Acceptance stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $451.01, for a total value of $541,212.00. Following the completion of the sale, the insider now owns 74,450 shares in the company, valued at approximately $33,577,694.50. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.30% of the company’s stock.

Credit Acceptance Trading Up 2.3 %

Shares of CACC opened at $494.24 on Thursday. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $616.66. The stock has a market cap of $5.99 billion, a PE ratio of 33.19 and a beta of 1.42. The firm’s fifty day moving average is $454.37 and its two-hundred day moving average is $480.33. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $548.13 million. During the same quarter in the previous year, the company posted $10.70 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. Research analysts forecast that Credit Acceptance Co. will post 37.14 earnings per share for the current fiscal year.

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.