Credit Acceptance (CACC) Shares Sold by AlphaMark Advisors LLC

AlphaMark Advisors LLC reduced its stake in Credit Acceptance (NASDAQ:CACC) by 15.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,993 shares of the credit services provider’s stock after selling 530 shares during the period. AlphaMark Advisors LLC’s holdings in Credit Acceptance were worth $989,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CACC. Schwab Charles Investment Management Inc. boosted its stake in Credit Acceptance by 8.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 78,372 shares of the credit services provider’s stock valued at $25,352,000 after acquiring an additional 5,900 shares during the period. State of Alaska Department of Revenue acquired a new position in Credit Acceptance in the fourth quarter valued at approximately $323,000. Harvest Fund Management Co. Ltd acquired a new position in Credit Acceptance in the fourth quarter valued at approximately $198,000. First Capital Advisors Group LLC. boosted its stake in Credit Acceptance by 108.9% in the fourth quarter. First Capital Advisors Group LLC. now owns 1,734 shares of the credit services provider’s stock valued at $561,000 after acquiring an additional 904 shares during the period. Finally, LMR Partners LLP boosted its stake in Credit Acceptance by 4.4% in the fourth quarter. LMR Partners LLP now owns 89,925 shares of the credit services provider’s stock valued at $29,089,000 after acquiring an additional 3,823 shares during the period. Institutional investors own 69.92% of the company’s stock.

Shares of NASDAQ CACC opened at $353.64 on Friday. The company has a debt-to-equity ratio of 2.07, a current ratio of 22.16 and a quick ratio of 22.16. The company has a market cap of $6.60 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 0.72 and a beta of 0.57. Credit Acceptance has a 12-month low of $340.95 and a 12-month high of $343.99.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data on Thursday, May 3rd. The credit services provider reported $6.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $6.19 by ($0.08). The business had revenue of $295.60 million for the quarter, compared to analyst estimates of $296.16 million. Credit Acceptance had a return on equity of 29.44% and a net margin of 43.49%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.67 earnings per share. analysts predict that Credit Acceptance will post 26.04 earnings per share for the current year.

CACC has been the subject of a number of research reports. BidaskClub downgraded Credit Acceptance from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. Oppenheimer set a $365.00 target price on Credit Acceptance and gave the company a “buy” rating in a research note on Thursday, April 12th. ValuEngine downgraded Credit Acceptance from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research downgraded Credit Acceptance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Finally, BMO Capital Markets decreased their target price on Credit Acceptance from $312.00 to $295.00 and set a “market perform” rating for the company in a research note on Thursday, February 1st. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $290.88.

In other news, CFO Kenneth Booth sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $334.50, for a total transaction of $669,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John S. Soave sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $337.01, for a total value of $842,525.00. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

Credit Acceptance Profile

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

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

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