Mraz Amerine & Associates Inc. Reduces Position in Credit Acceptance Co. (NASDAQ:CACC)

Mraz Amerine & Associates Inc. cut its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,213 shares of the credit services provider’s stock after selling 198 shares during the period. Credit Acceptance accounts for about 1.1% of Mraz Amerine & Associates Inc.’s holdings, making the stock its 15th biggest position. Mraz Amerine & Associates Inc. owned approximately 0.11% of Credit Acceptance worth $6,203,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Eagle Bay Advisors LLC acquired a new position in Credit Acceptance in the fourth quarter valued at $28,000. Quest Partners LLC grew its stake in shares of Credit Acceptance by 11,900.0% in the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock valued at $53,000 after purchasing an additional 119 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Credit Acceptance in the fourth quarter valued at approximately $142,000. Point72 Hong Kong Ltd acquired a new stake in shares of Credit Acceptance during the third quarter worth $177,000. Finally, Principal Securities Inc. acquired a new position in Credit Acceptance in the 4th quarter valued at $197,000. 81.71% of the stock is owned by institutional investors and hedge funds.

Credit Acceptance Price Performance

CACC stock opened at $520.61 on Tuesday. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 26.21 and a beta of 1.47. The company has a current ratio of 23.63, a quick ratio of 23.63 and a debt-to-equity ratio of 3.79. The firm has a 50 day moving average of $488.93 and a 200-day moving average of $468.76. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $614.96.

Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, beating the consensus estimate of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.60% and a net margin of 11.46%. As a group, equities analysts expect that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on CACC shares. TD Cowen lowered their target price on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a report on Friday, November 1st. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Finally, Stephens upped their price objective on Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the stock in a transaction 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 sale, the chief operating officer now owns 31,493 shares in the company, valued at approximately $15,428,420.70. This represents a 1.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.30% of the stock is currently owned by insiders.

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.