Sei Investments Co. Purchases New Position in Credit Acceptance Co. (NASDAQ:CACC)

Sei Investments Co. acquired a new position in shares of Credit Acceptance Co. (NASDAQ:CACC) during the 4th quarter, Holdings Channel.com reports. The fund acquired 574 shares of the credit services provider’s stock, valued at approximately $269,000.

Several other hedge funds also recently modified their holdings of the company. Eagle Bay Advisors LLC acquired a new position in shares of Credit Acceptance in the 4th quarter worth approximately $28,000. First Horizon Advisors Inc. acquired a new position in Credit Acceptance in the fourth quarter worth $34,000. TD Private Client Wealth LLC bought a new stake in shares of Credit Acceptance during the fourth quarter worth $37,000. Farther Finance Advisors LLC acquired a new stake in shares of Credit Acceptance in the fourth quarter valued at $38,000. Finally, US Bancorp DE raised its holdings in shares of Credit Acceptance by 50.4% in the fourth quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock valued at $84,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CACC shares. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Stephens upped their price objective on Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st.

Credit Acceptance Trading Down 1.1 %

CACC opened at $495.87 on Friday. The firm has a 50 day simple moving average of $496.63 and a 200 day simple moving average of $478.67. Credit Acceptance Co. has a fifty-two week low of $409.22 and a fifty-two week high of $614.96. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 24.97 and a beta of 1.27. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, beating the consensus estimate of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. On average, sell-side analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, insider Douglas W. Busk sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total value of $1,547,910.00. Following the completion of the sale, the insider now owns 3,112 shares of the company’s stock, valued at approximately $1,605,698.64. This represents a 49.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas J. Elliott sold 300 shares of Credit Acceptance stock in a transaction 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 in the company, valued at approximately $9,731,270. This represents a 1.52 % 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.

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.