Kovitz Investment Group Partners LLC Makes New Investment in Credit Acceptance Corporation $CACC

Kovitz Investment Group Partners LLC acquired a new position in Credit Acceptance Corporation (NASDAQ:CACC) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 498 shares of the credit services provider’s stock, valued at approximately $257,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Alfreton Capital LLP grew its position in Credit Acceptance by 11.8% in the 1st quarter. Alfreton Capital LLP now owns 190,000 shares of the credit services provider’s stock worth $98,106,000 after purchasing an additional 20,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Credit Acceptance by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 183,203 shares of the credit services provider’s stock valued at $86,004,000 after acquiring an additional 1,318 shares during the last quarter. London Co. of Virginia purchased a new position in Credit Acceptance in the fourth quarter valued at about $48,148,000. Crow s Nest Holdings LP purchased a new position in Credit Acceptance in the fourth quarter valued at about $35,210,000. Finally, JARISLOWSKY FRASER Ltd boosted its stake in Credit Acceptance by 12.5% in the fourth quarter. JARISLOWSKY FRASER Ltd now owns 73,135 shares of the credit services provider’s stock valued at $33,142,000 after acquiring an additional 8,153 shares during the last quarter. 81.71% of the stock is owned by institutional investors.

Credit Acceptance Stock Up 5.0%

CACC opened at $506.49 on Friday. The company has a quick ratio of 22.03, a current ratio of 22.03 and a debt-to-equity ratio of 4.16. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 14.60 and a beta of 1.13. Credit Acceptance Corporation has a twelve month low of $409.22 and a twelve month high of $560.00. The company’s 50-day moving average price is $499.62 and its two-hundred day moving average price is $494.58.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Thursday, July 31st. The credit services provider reported $8.56 earnings per share for the quarter, missing analysts’ consensus estimates of $9.84 by ($1.28). The company had revenue of $583.80 million during the quarter, compared to analysts’ expectations of $583.30 million. Credit Acceptance had a net margin of 18.69% and a return on equity of 27.06%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.29 earnings per share. As a group, equities analysts expect that Credit Acceptance Corporation will post 53.24 earnings per share for the current year.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, insider Daniel A. Ulatowski sold 6,356 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $522.16, for a total value of $3,318,848.96. Following the transaction, the insider directly owned 28,290 shares in the company, valued at $14,771,906.40. The trade was a 18.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Jill Foss Watson sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $539.97, for a total transaction of $10,799,400.00. Following the sale, the insider owned 102,107 shares in the company, valued at $55,134,716.79. The trade was a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,731 shares of company stock worth $14,307,733 over the last three months. 6.60% of the stock is currently owned by insiders.

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.