Arrowstreet Capital Limited Partnership Invests $2.20 Million in Credit Acceptance Co. (NASDAQ:CACC)

Arrowstreet Capital Limited Partnership acquired a new stake in Credit Acceptance Co. (NASDAQ:CACC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,678 shares of the credit services provider’s stock, valued at approximately $2,196,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Eagle Bay Advisors LLC bought a new stake in shares of Credit Acceptance during the 4th quarter valued at about $28,000. First Horizon Advisors Inc. purchased a new stake in shares of Credit Acceptance in the fourth quarter worth approximately $34,000. TD Private Client Wealth LLC bought a new position in Credit Acceptance during the 4th quarter valued at $37,000. Farther Finance Advisors LLC purchased a new position in Credit Acceptance during the fourth quarter worth about $38,000. Finally, US Bancorp DE boosted its stake in shares of Credit Acceptance by 50.4% in the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock worth $84,000 after buying an additional 60 shares during the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Credit Acceptance Stock Up 7.0 %

CACC stock opened at $501.25 on Thursday. The company’s 50 day moving average is $496.92 and its 200 day moving average is $478.33. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 25.24 and a beta of 1.27. Credit Acceptance Co. has a 1-year low of $409.22 and a 1-year high of $614.96. 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 data on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, beating analysts’ consensus estimates of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. Sell-side analysts predict that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CACC has been the subject of several research reports. Stephens increased their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Friday, January 31st.

Insider Activity

In other news, insider Nicholas J. Elliott sold 300 shares of the business’s 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 directly owns 19,385 shares of the company’s stock, valued at approximately $9,731,270. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas W. Busk sold 3,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the completion of the transaction, the insider now owns 3,112 shares of the company’s stock, valued at $1,605,698.64. This trade represents a 49.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

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.