SRS Capital Advisors Inc. Grows Position in Credit Acceptance Co. (NASDAQ:CACC)

SRS Capital Advisors Inc. lifted its stake in Credit Acceptance Co. (NASDAQ:CACC) by 3,336.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 378 shares of the credit services provider’s stock after buying an additional 367 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Credit Acceptance were worth $177,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Abrams Bison Investments LLC lifted its holdings in shares of Credit Acceptance by 30.5% in the third quarter. Abrams Bison Investments LLC now owns 228,306 shares of the credit services provider’s stock worth $101,235,000 after buying an additional 53,306 shares in the last quarter. Smead Capital Management Inc. lifted its holdings in shares of Credit Acceptance by 3.5% in the third quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider’s stock worth $92,155,000 after buying an additional 7,012 shares in the last quarter. MIG Capital LLC lifted its holdings in shares of Credit Acceptance by 18.7% in the third quarter. MIG Capital LLC now owns 116,491 shares of the credit services provider’s stock worth $51,654,000 after buying an additional 18,351 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 worth $49,401,000 after buying an additional 2,522 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Credit Acceptance by 24.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,051 shares of the credit services provider’s stock worth $41,704,000 after buying an additional 18,530 shares in the last quarter. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Credit Acceptance Price Performance

Credit Acceptance stock opened at $465.48 on Wednesday. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 23.44 and a beta of 1.47. The firm’s fifty day moving average is $491.75 and its 200 day moving average is $471.25. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $614.96.

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, beating analysts’ consensus estimates of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. Sell-side analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total transaction of $270,424.80. Following the transaction, the chief operating officer now owns 31,493 shares in the company, valued at $15,428,420.70. The trade was a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CACC shares. Stephens upped their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Friday, January 31st.

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.