Entropy Technologies LP Purchases Shares of 500 Credit Acceptance Co. (NASDAQ:CACC)

Entropy Technologies LP acquired a new position in Credit Acceptance Co. (NASDAQ:CACC) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 500 shares of the credit services provider’s stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CACC. Abrams Bison Investments LLC grew its position in Credit Acceptance by 30.5% during the 3rd quarter. Abrams Bison Investments LLC now owns 228,306 shares of the credit services provider’s stock worth $101,235,000 after acquiring an additional 53,306 shares during the last quarter. Smead Capital Management Inc. grew its holdings in shares of Credit Acceptance by 3.5% in the third quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider’s stock worth $92,155,000 after purchasing an additional 7,012 shares during the last quarter. MIG Capital LLC increased its stake in shares of Credit Acceptance by 18.7% in the third quarter. MIG Capital LLC now owns 116,491 shares of the credit services provider’s stock worth $51,654,000 after buying an additional 18,351 shares during the period. Geode Capital Management LLC increased its stake in shares of Credit Acceptance by 2.3% in the third quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider’s stock worth $49,401,000 after buying an additional 2,522 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Credit Acceptance by 24.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,051 shares of the credit services provider’s stock valued at $41,704,000 after buying an additional 18,530 shares during the last quarter. Institutional investors own 81.71% of the company’s stock.

Credit Acceptance Price Performance

Shares of CACC stock opened at $511.90 on Friday. The business’s fifty day moving average is $486.86 and its 200 day moving average is $470.09. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 25.78 and a beta of 1.47. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share 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 29.60%. Research analysts expect that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CACC. TD Cowen cut their target price on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock 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 note on Friday, January 31st. Finally, Stephens increased their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st.

Insiders Place Their Bets

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of Credit Acceptance stock in a transaction on 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 transaction, the chief operating officer now owns 31,493 shares in the company, valued at approximately $15,428,420.70. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.