22,007 Shares in Credit Acceptance Corporation (CACC) Acquired by Dixon Hubard Feinour & Brown Inc. VA

Dixon Hubard Feinour & Brown Inc. VA bought a new stake in shares of Credit Acceptance Corporation (NASDAQ:CACC) during the second quarter, Holdings Channel reports. The institutional investor bought 22,007 shares of the credit services provider’s stock, valued at approximately $5,659,000. Credit Acceptance Corporation comprises 1.6% of Dixon Hubard Feinour & Brown Inc. VA’s holdings, making the stock its 19th largest position.

Other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of Credit Acceptance Corporation by 46.1% in the first quarter. Russell Investments Group Ltd. now owns 732 shares of the credit services provider’s stock valued at $146,000 after buying an additional 231 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Credit Acceptance Corporation during the first quarter valued at about $177,000. Karp Capital Management Corp bought a new stake in shares of Credit Acceptance Corporation during the first quarter valued at about $244,000. Gotham Asset Management LLC bought a new stake in shares of Credit Acceptance Corporation during the first quarter valued at about $270,000. Finally, Trust Co. of Toledo NA OH bought a new stake in shares of Credit Acceptance Corporation during the second quarter valued at about $279,000. 72.08% of the stock is currently owned by institutional investors.

Credit Acceptance Corporation (CACC) traded down 0.05% during midday trading on Monday, reaching $242.16. The company’s stock had a trading volume of 155,591 shares. Credit Acceptance Corporation has a 12 month low of $160.63 and a 12 month high of $264.43. The company has a market cap of $4.78 billion, a PE ratio of 13.92 and a beta of 0.52. The stock has a 50-day moving average price of $230.58 and a 200 day moving average price of $210.27.

Credit Acceptance Corporation (NASDAQ:CACC) last released its quarterly earnings results on Monday, May 1st. The credit services provider reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.38 by $0.29. The firm had revenue of $262.80 million during the quarter, compared to analyst estimates of $259.24 million. Credit Acceptance Corporation had a net margin of 35.03% and a return on equity of 32.36%. Analysts expect that Credit Acceptance Corporation will post $18.74 earnings per share for the current fiscal year.

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Several brokerages recently issued reports on CACC. BMO Capital Markets reiterated a “hold” rating and issued a $212.00 price target on shares of Credit Acceptance Corporation in a research note on Tuesday, April 11th. Zacks Investment Research cut Credit Acceptance Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Jefferies Group LLC reiterated a “hold” rating and issued a $215.00 price target on shares of Credit Acceptance Corporation in a research note on Friday. BidaskClub cut Credit Acceptance Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Janney Montgomery Scott upgraded Credit Acceptance Corporation from a “sell” rating to a “neutral” rating and boosted their price target for the company from $187.00 to $200.00 in a research note on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $205.63.

In other news, President Steven M. Jones sold 65,000 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $214.15, for a total transaction of $13,919,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Jill Foss Watson sold 4,947 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $225.63, for a total transaction of $1,116,191.61. The disclosure for this sale can be found here. Insiders have sold a total of 451,659 shares of company stock valued at $98,957,724 over the last 90 days. Company insiders own 5.80% of the company’s stock.

Credit Acceptance Corporation Company Profile

Credit Acceptance Corporation offers financing programs that enable automobile dealers to sell vehicles to consumers. The Company’s financing programs are offered through a network of automobile dealers. The Company has two Dealers financing programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, the Company advances money to dealers (Dealer Loan) in exchange for the right to service the underlying consumer loans.

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Institutional Ownership by Quarter for Credit Acceptance Corporation (NASDAQ:CACC)

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