Geode Capital Management LLC Buys 35 Shares of Credit Acceptance Co. (NASDAQ:CACC)

Geode Capital Management LLC raised its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 0.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,414 shares of the credit services provider’s stock after acquiring an additional 35 shares during the period. Geode Capital Management LLC’s holdings in Credit Acceptance were worth $52,320,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CACC shares. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Stephens boosted their target price on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st.

Insider Buying and Selling

In related news, insider Nicholas J. Elliott sold 300 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $502.00, for a total transaction of $150,600.00. Following the sale, the insider now owns 19,385 shares of the company’s stock, valued at approximately $9,731,270. This represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction dated 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 transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at $1,605,698.64. The trade was a 49.08 % decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.

Credit Acceptance Stock Down 0.5 %

Shares of NASDAQ CACC opened at $493.19 on Monday. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. The stock has a market capitalization of $5.93 billion, a PE ratio of 24.83 and a beta of 1.27. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $614.96. The business’s fifty day moving average price is $496.12 and its 200-day moving average price is $479.30.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings data 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, equities research analysts anticipate that Credit Acceptance Co. will post 53.24 EPS for the current year.

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.