AXQ Capital LP Has $783,000 Stock Position in Credit Acceptance Co. (NASDAQ:CACC)

AXQ Capital LP increased its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 33.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,668 shares of the credit services provider’s stock after acquiring an additional 414 shares during the period. AXQ Capital LP’s holdings in Credit Acceptance were worth $783,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Eagle Bay Advisors LLC bought a new stake in Credit Acceptance during the fourth quarter worth $28,000. First Horizon Advisors Inc. purchased a new stake in Credit Acceptance in the 4th quarter valued at about $34,000. TD Private Client Wealth LLC purchased a new position in shares of Credit Acceptance in the 4th quarter worth approximately $37,000. Farther Finance Advisors LLC purchased a new stake in shares of Credit Acceptance during the 4th quarter valued at $38,000. Finally, Quest Partners LLC grew its position in Credit Acceptance by 11,900.0% during the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock valued at $53,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds own 81.71% of the company’s stock.

Credit Acceptance Stock Down 0.4 %

CACC opened at $495.49 on Friday. The firm has a market capitalization of $5.96 billion, a P/E ratio of 24.95 and a beta of 1.51. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $614.96. The company has a fifty day moving average price of $496.81 and a 200-day moving average price of $472.48. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33.

Credit Acceptance (NASDAQ:CACC) last issued its 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%. Equities research analysts expect that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Stephens boosted their target price 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. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

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.