Principal Securities Inc. Makes New Investment in Credit Acceptance Co. (NASDAQ:CACC)

Principal Securities Inc. bought a new position in Credit Acceptance Co. (NASDAQ:CACC) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 419 shares of the credit services provider’s stock, valued at approximately $197,000.

A number of other large investors have also made changes to their positions in CACC. Entropy Technologies LP acquired a new stake in Credit Acceptance during the 4th quarter worth about $235,000. Citadel Investment Advisory Inc. boosted its holdings in shares of Credit Acceptance by 113.6% during the fourth quarter. Citadel Investment Advisory Inc. now owns 2,802 shares of the credit services provider’s stock worth $1,315,000 after purchasing an additional 1,490 shares during the period. KBC Group NV grew its position in Credit Acceptance by 3,197.5% during the fourth quarter. KBC Group NV now owns 6,661 shares of the credit services provider’s stock valued at $3,127,000 after purchasing an additional 6,459 shares in the last quarter. SG Americas Securities LLC acquired a new position in Credit Acceptance in the 4th quarter valued at approximately $142,000. Finally, UMB Bank n.a. lifted its position in Credit Acceptance by 10.7% in the 4th quarter. UMB Bank n.a. now owns 743 shares of the credit services provider’s stock worth $349,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Credit Acceptance Stock Performance

NASDAQ:CACC opened at $490.21 on Tuesday. The firm has a market capitalization of $5.90 billion, a PE ratio of 24.68 and a beta of 1.47. 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. The firm’s fifty day simple moving average is $490.49 and its 200 day simple moving average is $470.17.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on CACC. TD Cowen cut their price objective on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a report on Friday, November 1st. Stephens boosted their price target on Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st.

Insider Transactions at Credit Acceptance

In other news, COO Jonathan Lum sold 552 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total value of $270,424.80. Following the completion of the transaction, the chief operating officer now owns 31,493 shares in the company, valued at approximately $15,428,420.70. This represents a 1.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.30% of the company’s stock.

Credit Acceptance 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.