Global Retirement Partners LLC Buys New Stake in Credit Acceptance Co. (NASDAQ:CACC)

Global Retirement Partners LLC purchased a new position in Credit Acceptance Co. (NASDAQ:CACC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 669 shares of the credit services provider’s stock, valued at approximately $314,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new stake in shares of Credit Acceptance in the fourth quarter valued at about $486,000. State of New Jersey Common Pension Fund D increased its holdings in Credit Acceptance by 13.3% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 4,717 shares of the credit services provider’s stock valued at $2,214,000 after buying an additional 554 shares during the period. Principal Securities Inc. bought a new position in Credit Acceptance in the fourth quarter worth approximately $197,000. Entropy Technologies LP purchased a new stake in Credit Acceptance during the fourth quarter worth $235,000. Finally, Citadel Investment Advisory Inc. boosted its position in Credit Acceptance by 113.6% during the 4th quarter. Citadel Investment Advisory Inc. now owns 2,802 shares of the credit services provider’s stock valued at $1,315,000 after acquiring an additional 1,490 shares in the last quarter. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the stock in a transaction dated 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 directly owns 31,493 shares of the company’s stock, valued at approximately $15,428,420.70. This trade represents a 1.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.30% of the stock is owned by insiders.

Credit Acceptance Trading Down 1.1 %

Shares of NASDAQ:CACC opened at $490.21 on Tuesday. The business’s 50-day moving average is $490.49 and its 200 day moving average is $470.17. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $614.96. The firm has a market capitalization of $5.90 billion, a P/E ratio of 24.68 and a beta of 1.47.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, beating the consensus estimate of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. On average, research analysts predict that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Credit Acceptance 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.