Epoch Investment Partners Inc. Raises Holdings in Credit Acceptance Corp. (CACC)

Epoch Investment Partners Inc. boosted its holdings in shares of Credit Acceptance Corp. (NASDAQ:CACC) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 74,414 shares of the credit services provider’s stock after purchasing an additional 3,077 shares during the period. Epoch Investment Partners Inc. owned approximately 0.39% of Credit Acceptance worth $32,598,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CACC. Invictus RG acquired a new position in shares of Credit Acceptance in the third quarter valued at approximately $297,000. C M Bidwell & Associates Ltd. purchased a new stake in Credit Acceptance in the third quarter valued at approximately $245,000. Riverhead Capital Management LLC grew its holdings in Credit Acceptance by 177.3% in the third quarter. Riverhead Capital Management LLC now owns 3,050 shares of the credit services provider’s stock valued at $1,336,000 after purchasing an additional 1,950 shares during the period. GAM Holding AG grew its holdings in Credit Acceptance by 213.7% in the third quarter. GAM Holding AG now owns 2,127 shares of the credit services provider’s stock valued at $932,000 after purchasing an additional 1,449 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Credit Acceptance by 4.3% in the third quarter. Hsbc Holdings PLC now owns 115,287 shares of the credit services provider’s stock valued at $50,500,000 after purchasing an additional 4,743 shares during the period. 62.07% of the stock is currently owned by institutional investors.

CACC opened at $386.39 on Friday. The company has a quick ratio of 36.75, a current ratio of 36.75 and a debt-to-equity ratio of 1.97. Credit Acceptance Corp. has a 52-week low of $297.63 and a 52-week high of $467.26. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 0.80 and a beta of 0.52.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings data on Monday, October 29th. The credit services provider reported $7.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.90 by $0.85. Credit Acceptance had a net margin of 48.70% and a return on equity of 28.83%. The company had revenue of $332.00 million during the quarter, compared to the consensus estimate of $327.45 million. During the same period in the previous year, the firm earned $5.43 earnings per share. Credit Acceptance’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, research analysts predict that Credit Acceptance Corp. will post 27.89 earnings per share for the current fiscal year.

In other Credit Acceptance news, insider Scott J. Vassalluzzo sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $413.10, for a total transaction of $2,065,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Prescott General Partners Llc sold 20,273 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $418.53, for a total transaction of $8,484,858.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,818 shares of company stock valued at $15,431,423. 5.40% of the stock is owned by insiders.

CACC has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of Credit Acceptance from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Credit Suisse Group boosted their target price on shares of Credit Acceptance from $310.00 to $335.00 and gave the company an “underperform” rating in a report on Tuesday, October 30th. Oppenheimer set a $420.00 target price on shares of Credit Acceptance and gave the company a “buy” rating in a report on Tuesday, October 30th. BMO Capital Markets boosted their target price on shares of Credit Acceptance from $312.00 to $333.00 and gave the company a “market perform” rating in a report on Thursday, November 1st. Finally, Zacks Investment Research restated a “buy” rating and issued a $438.00 target price on shares of Credit Acceptance in a report on Monday, November 12th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Credit Acceptance has an average rating of “Hold” and a consensus price target of $362.71.

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Credit Acceptance Company 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.

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

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