Credit Acceptance Co. (NASDAQ:CACC) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its position in shares of Credit Acceptance Co. (NASDAQ:CACC) by 29.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,188 shares of the credit services provider’s stock after selling 3,000 shares during the quarter. Renaissance Technologies LLC owned 0.06% of Credit Acceptance worth $3,374,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Credit Acceptance by 1.1% in 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 last quarter. MIG Capital LLC lifted its holdings in Credit Acceptance by 8.6% in the fourth 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 during the last quarter. Geode Capital Management LLC boosted its stake in Credit Acceptance by 2.3% in the third quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider’s stock valued at $49,401,000 after acquiring an additional 2,522 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Credit Acceptance by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 95,854 shares of the credit services provider’s stock valued at $45,000,000 after purchasing an additional 1,803 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new position in shares of Credit Acceptance during the fourth quarter valued at approximately $18,146,000. Institutional investors and hedge funds own 81.71% of the company’s stock.

Credit Acceptance Stock Performance

CACC opened at $451.81 on Wednesday. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96. The stock has a market cap of $5.44 billion, a PE ratio of 22.75 and a beta of 1.27. The business’s 50 day moving average is $490.78 and its 200-day moving average is $480.61. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share (EPS) for the quarter, topping 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, analysts predict that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

CACC has been the subject of a number of analyst reports. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Stephens boosted their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a 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 that occurred on Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the sale, the insider now owns 3,112 shares of the company’s stock, valued at $1,605,698.64. The trade was 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 available at the SEC website. Also, insider Nicholas J. Elliott sold 300 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $502.00, for a total value of $150,600.00. Following the transaction, the insider now directly owns 19,385 shares of the company’s stock, valued at approximately $9,731,270. The trade was 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 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.