The Manufacturers Life Insurance Company Has $961,000 Position in Credit Acceptance Co. (NASDAQ:CACC)

The Manufacturers Life Insurance Company cut its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,048 shares of the credit services provider’s stock after selling 23 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Credit Acceptance were worth $961,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Credit Acceptance by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 486,828 shares of the credit services provider’s stock worth $228,546,000 after buying an additional 5,134 shares during the period. Beck Mack & Oliver LLC raised its position in shares of Credit Acceptance by 1.6% in the 4th quarter. Beck Mack & Oliver LLC now owns 391,238 shares of the credit services provider’s stock worth $183,671,000 after acquiring an additional 6,214 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Credit Acceptance by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 183,203 shares of the credit services provider’s stock worth $86,004,000 after acquiring an additional 1,318 shares in the last quarter. MIG Capital LLC raised its position in shares of Credit Acceptance by 8.6% in the 4th quarter. MIG Capital LLC now owns 126,467 shares of the credit services provider’s stock worth $59,371,000 after acquiring an additional 9,976 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Credit Acceptance by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 95,854 shares of the credit services provider’s stock worth $45,000,000 after acquiring an additional 1,803 shares in the last quarter. 81.71% of the stock is owned by institutional investors and hedge funds.

Credit Acceptance Stock Performance

Shares of Credit Acceptance stock opened at $496.19 on Thursday. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $614.96. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 24.98 and a beta of 1.23. The business has a 50-day simple moving average of $488.69 and a 200 day simple moving average of $482.99. 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 Wednesday, April 30th. The credit services provider reported $9.35 EPS for the quarter, missing analysts’ consensus estimates of $10.31 by ($0.96). Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. The firm had revenue of $571.10 million during the quarter, compared to the consensus estimate of $570.25 million. During the same period in the previous year, the firm earned $9.28 earnings per share. The business’s quarterly revenue was up 12.4% on a year-over-year basis. On average, research analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CACC has been the subject of several research analyst reports. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Stephens lifted their price objective on Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st.

Insider Activity at Credit Acceptance

In related news, insider Douglas W. Busk sold 3,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was 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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $150,600.00. Following the sale, the insider now directly owns 19,385 shares of the company’s stock, valued at $9,731,270. This represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.

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.