EntryPoint Capital LLC Makes New $339,000 Investment in Credit Acceptance Co. (NASDAQ:CACC)

EntryPoint Capital LLC acquired a new stake in shares of Credit Acceptance Co. (NASDAQ:CACC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 722 shares of the credit services provider’s stock, valued at approximately $339,000.

Several other hedge funds have also recently made changes to their positions in CACC. Eagle Bay Advisors LLC purchased a new stake in Credit Acceptance during the 4th quarter valued at about $28,000. First Horizon Advisors Inc. acquired a new stake in shares of Credit Acceptance during the fourth quarter worth about $34,000. TD Private Client Wealth LLC purchased a new stake in Credit Acceptance in the fourth quarter valued at approximately $37,000. Farther Finance Advisors LLC acquired a new position in Credit Acceptance in the 4th quarter worth approximately $38,000. Finally, Quest Partners LLC raised its position in Credit Acceptance by 11,900.0% during the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after buying an additional 119 shares during the last quarter. 81.71% of the stock is owned by institutional investors and hedge funds.

Credit Acceptance Trading Down 0.8 %

Credit Acceptance stock opened at $510.41 on Thursday. The firm has a market cap of $6.14 billion, a PE ratio of 25.70 and a beta of 1.51. Credit Acceptance Co. has a 12 month low of $409.22 and a 12 month high of $614.96. The stock’s 50 day simple moving average is $499.76 and its two-hundred day simple moving average is $473.92. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63.

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%. Analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CACC shares. Stephens upped their price objective 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. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st.

Insider Activity

In other news, insider Nicholas J. Elliott sold 300 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total transaction of $150,600.00. Following the transaction, the insider now owns 19,385 shares in the company, valued at $9,731,270. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.30% of the company’s stock.

About Credit Acceptance

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.