Virtu Financial LLC Makes New Investment in Credit Acceptance Co. (NASDAQ:CACC)

Virtu Financial LLC acquired a new stake in Credit Acceptance Co. (NASDAQ:CACC) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 3,001 shares of the credit services provider’s stock, valued at approximately $1,655,000.

A number of other institutional investors also recently made changes to their positions in CACC. National Bank of Canada FI raised its holdings in Credit Acceptance by 242.3% in the 4th quarter. National Bank of Canada FI now owns 243 shares of the credit services provider’s stock worth $131,000 after purchasing an additional 172 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Credit Acceptance in the 1st quarter worth about $156,000. Panagora Asset Management Inc. purchased a new stake in shares of Credit Acceptance in the 4th quarter worth about $210,000. Beacon Pointe Advisors LLC purchased a new stake in shares of Credit Acceptance in the 4th quarter worth about $211,000. Finally, MQS Management LLC purchased a new stake in shares of Credit Acceptance in the 1st quarter worth about $242,000. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TD Cowen cut their price objective on shares of Credit Acceptance from $440.00 to $400.00 and set a “sell” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $395.67.

Credit Acceptance Price Performance

Shares of NASDAQ:CACC traded down $9.27 during midday trading on Friday, reaching $480.02. 113,771 shares of the company’s stock traded hands, compared to its average volume of 60,653. Credit Acceptance Co. has a 1 year low of $379.77 and a 1 year high of $616.66. The company has a market cap of $5.81 billion, a P/E ratio of 25.10 and a beta of 1.44. The company has a debt-to-equity ratio of 3.29, a quick ratio of 13.79 and a current ratio of 13.79. The company has a fifty day simple moving average of $518.94 and a two-hundred day simple moving average of $532.60.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $10.29 EPS for the quarter, topping the consensus estimate of $7.20 by $3.09. The business had revenue of $538.20 million for the quarter, compared to analyst estimates of $525.03 million. Credit Acceptance had a return on equity of 30.10% and a net margin of 9.01%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.69 EPS. Equities analysts predict that Credit Acceptance Co. will post 38.21 EPS for the current fiscal year.

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.