Rhumbline Advisers Sells 380 Shares of Credit Acceptance Corp. (CACC)

Rhumbline Advisers trimmed its holdings in shares of Credit Acceptance Corp. (NASDAQ:CACC) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,435 shares of the credit services provider’s stock after selling 380 shares during the quarter. Rhumbline Advisers owned approximately 0.07% of Credit Acceptance worth $6,324,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Oppenheimer Asset Management Inc. grew its position in Credit Acceptance by 19.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,081 shares of the credit services provider’s stock valued at $382,000 after buying an additional 177 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in Credit Acceptance by 17.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 1,244 shares of the credit services provider’s stock valued at $440,000 after buying an additional 183 shares during the period. WINTON GROUP Ltd grew its position in Credit Acceptance by 13.4% during the third quarter. WINTON GROUP Ltd now owns 1,635 shares of the credit services provider’s stock valued at $716,000 after buying an additional 193 shares during the period. Harvest Fund Management Co. Ltd grew its position in Credit Acceptance by 32.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 808 shares of the credit services provider’s stock valued at $354,000 after buying an additional 196 shares during the period. Finally, Great West Life Assurance Co. Can grew its position in Credit Acceptance by 27.5% during the second quarter. Great West Life Assurance Co. Can now owns 997 shares of the credit services provider’s stock valued at $352,000 after buying an additional 215 shares during the period. Institutional investors own 62.07% of the company’s stock.

CACC opened at $382.34 on Wednesday. Credit Acceptance Corp. has a 1-year low of $297.63 and a 1-year high of $467.26. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 0.85 and a beta of 0.52. The company has a debt-to-equity ratio of 1.97, a current ratio of 36.75 and a quick ratio of 36.75.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Monday, October 29th. The credit services provider reported $7.75 EPS for the quarter, topping the Zacks’ consensus estimate of $6.90 by $0.85. Credit Acceptance had a return on equity of 28.83% and a net margin of 48.70%. The business 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 company posted $5.43 earnings per share. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. Equities research analysts anticipate that Credit Acceptance Corp. will post 27.89 earnings per share for the current fiscal year.

Several brokerages recently issued reports on CACC. BidaskClub lowered shares of Credit Acceptance from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Investment Research upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating and set a $473.00 target price for the company in a research report on Monday, November 19th. BMO Capital Markets upped their price target on shares of Credit Acceptance from $312.00 to $333.00 and gave the stock a “market perform” rating in a research report on Thursday, November 1st. Oppenheimer set a $420.00 price target on shares of Credit Acceptance and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Finally, Credit Suisse Group upped their price target on shares of Credit Acceptance from $310.00 to $335.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 30th. Three investment 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. The stock presently has an average rating of “Hold” and a consensus price target of $362.71.

In related news, insider Scott J. Vassalluzzo sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $413.10, for a total value of $2,065,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Prescott General Partners Llc sold 9,506 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $423.39, for a total value of $4,024,745.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,818 shares of company stock valued at $15,431,423. Corporate insiders own 5.40% of the company’s stock.

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About Credit Acceptance

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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