First Horizon Advisors Inc. Makes New $34,000 Investment in Credit Acceptance Co. (NASDAQ:CACC)

First Horizon Advisors Inc. bought a new position in Credit Acceptance Co. (NASDAQ:CACC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 73 shares of the credit services provider’s stock, valued at approximately $34,000.

Several other institutional investors and hedge funds have also bought and sold shares of CACC. HighTower Advisors LLC raised its position in shares of Credit Acceptance by 5.7% during the 3rd quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider’s stock valued at $263,000 after buying an additional 32 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Credit Acceptance during the 4th quarter valued at $28,000. Wedge Capital Management L L P NC raised its position in shares of Credit Acceptance by 2.7% during the 4th quarter. Wedge Capital Management L L P NC now owns 2,687 shares of the credit services provider’s stock valued at $1,261,000 after buying an additional 70 shares in the last quarter. UMB Bank n.a. raised its position in shares of Credit Acceptance by 10.7% during the 4th quarter. UMB Bank n.a. now owns 743 shares of the credit services provider’s stock valued at $349,000 after buying an additional 72 shares in the last quarter. Finally, PDT Partners LLC raised its position in shares of Credit Acceptance by 1.9% during the 3rd quarter. PDT Partners LLC now owns 5,458 shares of the credit services provider’s stock valued at $2,420,000 after buying an additional 100 shares in the last quarter. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on CACC shares. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Stephens increased their target price on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, TD Cowen reduced their target price on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a report on Friday, November 1st.

Credit Acceptance Price Performance

Shares of Credit Acceptance stock opened at $476.38 on Friday. The firm has a market cap of $5.73 billion, a PE ratio of 23.99 and a beta of 1.47. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $614.96. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63. The company’s fifty day simple moving average is $490.50 and its two-hundred day simple moving average is $470.38.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. As a group, equities analysts expect that Credit Acceptance Co. will post 53.24 EPS for the current year.

Insiders Place Their Bets

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total value of $270,424.80. Following the sale, the chief operating officer now owns 31,493 shares of the company’s stock, valued at $15,428,420.70. This trade represents a 1.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.30% of the company’s stock.

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.