MIG Capital LLC Has $59.37 Million Stock Holdings in Credit Acceptance Co. (NASDAQ:CACC)

MIG Capital LLC increased its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 8.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,467 shares of the credit services provider’s stock after purchasing an additional 9,976 shares during the quarter. Credit Acceptance makes up 6.1% of MIG Capital LLC’s investment portfolio, making the stock its 5th biggest holding. MIG Capital LLC owned approximately 1.04% of Credit Acceptance worth $59,371,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Eagle Bay Advisors LLC acquired a new stake in shares of Credit Acceptance during the fourth quarter worth $28,000. First Horizon Advisors Inc. acquired a new stake in Credit Acceptance during the 4th quarter worth about $34,000. TD Private Client Wealth LLC bought a new position in shares of Credit Acceptance in the 4th quarter worth about $37,000. Farther Finance Advisors LLC acquired a new position in shares of Credit Acceptance in the 4th quarter valued at about $38,000. Finally, US Bancorp DE boosted its position in shares of Credit Acceptance by 50.4% during the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock valued at $84,000 after purchasing an additional 60 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, insider Nicholas J. Elliott sold 300 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total transaction of $150,600.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas W. Busk sold 3,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total value of $1,547,910.00. Following the completion of the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $1,605,698.64. This trade represents a 49.08 % 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 Stock Performance

Shares of CACC opened at $461.44 on Friday. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $614.96. The company has a market cap of $5.55 billion, a PE ratio of 23.23 and a beta of 1.27. The stock has a 50-day moving average of $500.77 and a 200-day moving average of $477.61. 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 announced its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, beating analysts’ consensus estimates 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, equities research analysts predict that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CACC has been the subject of a number of research analyst reports. Stephens lifted their target price on Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Friday, January 31st.

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.