Diversified Trust Co Takes $618,000 Position in Credit Acceptance Co. (NASDAQ:CACC)

Diversified Trust Co acquired a new position in Credit Acceptance Co. (NASDAQ:CACC) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,200 shares of the credit services provider’s stock, valued at approximately $618,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. National Bank of Canada FI increased its holdings in Credit Acceptance by 242.3% during 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 during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Credit Acceptance in the first quarter valued at about $156,000. Panagora Asset Management Inc. bought a new position in Credit Acceptance during the 4th quarter worth approximately $210,000. Beacon Pointe Advisors LLC acquired a new position in shares of Credit Acceptance in the 4th quarter worth approximately $211,000. Finally, MQS Management LLC bought a new stake in shares of Credit Acceptance in the 1st quarter valued at approximately $242,000. 81.71% of the stock is owned by hedge funds and other institutional investors.

Credit Acceptance Stock Performance

NASDAQ CACC traded up $3.45 on Wednesday, hitting $452.93. The stock had a trading volume of 1,524 shares, compared to its average volume of 60,047. Credit Acceptance Co. has a one year low of $379.77 and a one year high of $616.66. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 23.06 and a beta of 1.44. The company’s 50-day moving average is $515.38 and its two-hundred day moving average is $528.53. The company has a quick ratio of 13.79, a current ratio of 19.15 and a debt-to-equity ratio of 3.77.

Credit Acceptance (NASDAQ:CACC) last announced its earnings results on Wednesday, July 31st. The credit services provider reported $10.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.20 by $3.09. The firm had revenue of $538.20 million during the quarter, compared to analyst estimates of $525.03 million. Credit Acceptance had a net margin of 9.01% and a return on equity of 30.77%. Credit Acceptance’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.69 EPS. On average, analysts expect that Credit Acceptance Co. will post 38.21 earnings per share for the current year.

Analysts Set New Price Targets

Separately, TD Cowen lowered their target price on shares of Credit Acceptance from $440.00 to $400.00 and set a “sell” rating for the company in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $395.67.

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.