Credit Acceptance (NASDAQ:CACC) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Credit Acceptance (NASDAQ:CACC) from a buy rating to a hold rating in a report issued on Tuesday morning.

CACC has been the topic of several other reports. Stephens started coverage on shares of Credit Acceptance in a report on Wednesday, November 13th. They set an “equal weight” rating and a $452.00 price objective on the stock. TD Cowen cut their price target 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 Stock Performance

Shares of CACC stock opened at $454.55 on Tuesday. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 30.53 and a beta of 1.46. The company’s 50 day moving average is $466.35 and its 200 day moving average is $477.99. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79. Credit Acceptance has a 52-week low of $409.22 and a 52-week high of $616.66.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.88 by $0.91. The company had revenue of $550.30 million for the quarter, compared to analyst estimates of $548.13 million. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. Credit Acceptance’s revenue was up 15.0% compared to the same quarter last year. During the same period last year, the company posted $10.70 earnings per share. On average, sell-side analysts anticipate that Credit Acceptance will post 36.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of Credit Acceptance 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 completion of the sale, the chief operating officer now owns 31,493 shares of the company’s stock, valued at approximately $15,428,420.70. The trade was a 1.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Quest Partners LLC raised its stake in shares of Credit Acceptance by 11,900.0% in the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after purchasing an additional 119 shares during the last quarter. nVerses Capital LLC increased its stake in shares of Credit Acceptance by 200.0% in the third quarter. nVerses Capital LLC now owns 300 shares of the credit services provider’s stock worth $133,000 after acquiring an additional 200 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Credit Acceptance in the third quarter worth $177,000. Headlands Technologies LLC increased its stake in shares of Credit Acceptance by 24,850.0% in the second quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock worth $257,000 after acquiring an additional 497 shares during the period. Finally, Creative Planning acquired a new stake in shares of Credit Acceptance in the second quarter worth $282,000. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

Credit Acceptance Company 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.