Dupont Capital Management Corp boosted its stake in shares of Credit Acceptance Corp. (NASDAQ:CACC) by 20.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,511 shares of the credit services provider’s stock after purchasing an additional 600 shares during the period. Dupont Capital Management Corp’s holdings in Credit Acceptance were worth $1,340,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Federated Investors Inc. PA lifted its position in Credit Acceptance by 355.0% during the third quarter. Federated Investors Inc. PA now owns 91 shares of the credit services provider’s stock valued at $40,000 after purchasing an additional 71 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Credit Acceptance during the fourth quarter valued at $81,000. First Hawaiian Bank purchased a new position in Credit Acceptance during the third quarter valued at $178,000. Virtu Financial LLC purchased a new position in Credit Acceptance during the third quarter valued at $224,000. Finally, Grandfield & Dodd LLC purchased a new position in Credit Acceptance during the third quarter valued at $224,000. Institutional investors own 61.90% of the company’s stock.
In other news, insider Scott J. Vassalluzzo sold 5,000 shares of Credit Acceptance stock in a transaction dated 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 legal filing with the SEC, which is available through the SEC website. Insiders own 5.40% of the company’s stock.
Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Wednesday, January 30th. The credit services provider reported $7.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $7.45 by $0.40. Credit Acceptance had a return on equity of 30.64% and a net margin of 44.64%. The business had revenue of $342.80 million for the quarter, compared to the consensus estimate of $338.73 million. During the same period in the previous year, the business earned $5.16 earnings per share. The business’s revenue was up 19.3% on a year-over-year basis. On average, equities research analysts anticipate that Credit Acceptance Corp. will post 32.73 EPS for the current fiscal year.
CACC has been the topic of several research analyst reports. BidaskClub upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Tuesday, October 16th. Oppenheimer set a $420.00 price objective on Credit Acceptance and gave the company a “buy” rating in a research report on Tuesday, October 30th. Credit Suisse Group boosted their price objective on Credit Acceptance from $310.00 to $335.00 and gave the company an “underperform” rating in a research report on Tuesday, October 30th. BMO Capital Markets boosted their price objective on Credit Acceptance from $312.00 to $333.00 and gave the company a “market perform” rating in a research report on Thursday, November 1st. Finally, Zacks Investment Research restated a “buy” rating and issued a $438.00 price objective on shares of Credit Acceptance in a research report on Monday, November 12th. 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. Credit Acceptance has a consensus rating of “Hold” and an average target price of $381.88.
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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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