438 Shares in Credit Acceptance Co. (NASDAQ:CACC) Purchased by MQS Management LLC

MQS Management LLC purchased a new stake in Credit Acceptance Co. (NASDAQ:CACC) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 438 shares of the credit services provider’s stock, valued at approximately $242,000.

A number of other large investors have also recently modified their holdings of CACC. Cerity Partners LLC purchased a new stake in Credit Acceptance in the fourth quarter valued at approximately $472,516,000. Vanguard Group Inc. lifted its holdings in shares of Credit Acceptance by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 590,161 shares of the credit services provider’s stock worth $271,545,000 after acquiring an additional 2,631 shares during the last quarter. Crow s Nest Holdings LP grew its position in Credit Acceptance by 39.4% in the fourth quarter. Crow s Nest Holdings LP now owns 92,000 shares of the credit services provider’s stock worth $49,011,000 after acquiring an additional 26,000 shares in the last quarter. Goodnow Investment Group LLC grew its position in Credit Acceptance by 17.0% in the fourth quarter. Goodnow Investment Group LLC now owns 77,941 shares of the credit services provider’s stock worth $41,522,000 after acquiring an additional 11,310 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Credit Acceptance by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 75,927 shares of the credit services provider’s stock valued at $40,449,000 after acquiring an additional 4,734 shares during the last quarter. Institutional investors own 81.71% of the company’s stock.

Credit Acceptance Price Performance

Shares of CACC stock traded up $23.15 during trading hours on Thursday, hitting $573.93. 81,228 shares of the company’s stock were exchanged, compared to its average volume of 59,335. Credit Acceptance Co. has a 12-month low of $379.77 and a 12-month high of $616.66. The company has a market capitalization of $6.95 billion, a PE ratio of 28.46 and a beta of 1.44. The business’s 50 day simple moving average is $510.67 and its 200-day simple moving average is $531.52. The company has a current ratio of 13.79, a quick ratio of 13.79 and a debt-to-equity ratio of 3.29.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $9.28 earnings per share for the quarter, topping the consensus estimate of $6.81 by $2.47. Credit Acceptance had a net margin of 12.83% and a return on equity of 30.70%. The business had revenue of $508.00 million during the quarter, compared to the consensus estimate of $497.71 million. During the same period in the previous year, the firm posted $9.71 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities research analysts anticipate that Credit Acceptance Co. will post 41.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, TD Cowen dropped their price target on Credit Acceptance from $465.00 to $420.00 and set a “sell” rating for the company in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $402.33.

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.