Duality Advisers LP Sells 167 Shares of Credit Acceptance Co. (NASDAQ:CACC)

Duality Advisers LP lowered its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,103 shares of the credit services provider’s stock after selling 167 shares during the quarter. Duality Advisers LP’s holdings in Credit Acceptance were worth $1,711,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CACC. Cerity Partners LLC bought a new position in Credit Acceptance during the fourth quarter valued at about $472,516,000. Wellington Management Group LLP grew its position in Credit Acceptance by 7.4% during the third quarter. Wellington Management Group LLP now owns 644,666 shares of the credit services provider’s stock valued at $296,624,000 after buying an additional 44,454 shares during the period. Crow s Nest Holdings LP grew its position in Credit Acceptance by 39.4% during the fourth quarter. Crow s Nest Holdings LP now owns 92,000 shares of the credit services provider’s stock valued at $49,011,000 after buying an additional 26,000 shares during the period. Quantum Capital Management LLC NJ boosted its position in Credit Acceptance by 55.9% during the fourth quarter. Quantum Capital Management LLC NJ now owns 52,896 shares of the credit services provider’s stock worth $28,179,000 after purchasing an additional 18,960 shares during the period. Finally, Goodnow Investment Group LLC boosted its position in Credit Acceptance by 17.0% during the fourth quarter. Goodnow Investment Group LLC now owns 77,941 shares of the credit services provider’s stock worth $41,522,000 after purchasing an additional 11,310 shares during the period. Institutional investors own 81.71% of the company’s stock.

Analyst Ratings Changes

Separately, TD Cowen cut their target price on shares of Credit Acceptance from $465.00 to $420.00 and set a “sell” rating for the company in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Credit Acceptance currently has an average rating of “Hold” and a consensus price target of $402.33.

Credit Acceptance Price Performance

Shares of CACC stock traded up $21.60 during trading hours on Friday, reaching $581.89. The stock had a trading volume of 51,786 shares, compared to its average volume of 59,150. The stock’s fifty day simple moving average is $499.53 and its 200 day simple moving average is $528.43. 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 Co. has a 12 month low of $379.77 and a 12 month high of $616.66. The firm has a market capitalization of $7.05 billion, a PE ratio of 30.24 and a beta of 1.44.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $9.28 EPS for the quarter, beating analysts’ consensus estimates of $6.81 by $2.47. Credit Acceptance had a net margin of 12.83% and a return on equity of 30.70%. The company had revenue of $508.00 million during the quarter, compared to analyst estimates of $497.71 million. During the same period last year, the business earned $9.71 earnings per share. Credit Acceptance’s revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts predict that Credit Acceptance Co. will post 41.01 EPS for the current year.

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.