Credit Acceptance Corporation (CACC) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. increased its stake in Credit Acceptance Corporation (NASDAQ:CACC) by 31.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,163 shares of the credit services provider’s stock after purchasing an additional 519 shares during the period. Pacer Advisors Inc.’s holdings in Credit Acceptance Corporation were worth $556,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CACC. Teachers Advisors LLC lifted its stake in Credit Acceptance Corporation by 6.5% during the 4th quarter. Teachers Advisors LLC now owns 14,379 shares of the credit services provider’s stock valued at $3,128,000 after acquiring an additional 883 shares during the period. Janney Montgomery Scott LLC lifted its stake in Credit Acceptance Corporation by 35.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,560 shares of the credit services provider’s stock valued at $311,000 after acquiring an additional 412 shares during the period. Russell Investments Group Ltd. lifted its stake in Credit Acceptance Corporation by 46.1% during the 1st quarter. Russell Investments Group Ltd. now owns 732 shares of the credit services provider’s stock valued at $146,000 after acquiring an additional 231 shares during the period. Wells Fargo & Company MN lifted its stake in Credit Acceptance Corporation by 9.1% during the 1st quarter. Wells Fargo & Company MN now owns 3,516 shares of the credit services provider’s stock valued at $701,000 after acquiring an additional 293 shares during the period. Finally, First Trust Advisors LP lifted its stake in Credit Acceptance Corporation by 51.0% during the 1st quarter. First Trust Advisors LP now owns 34,598 shares of the credit services provider’s stock valued at $6,899,000 after acquiring an additional 11,690 shares during the period. Institutional investors own 72.71% of the company’s stock.

Several analysts have commented on CACC shares. BidaskClub upgraded shares of Credit Acceptance Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Zacks Investment Research cut shares of Credit Acceptance Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Jefferies Group LLC reaffirmed a “hold” rating and set a $215.00 target price on shares of Credit Acceptance Corporation in a report on Friday, July 14th. Credit Suisse Group reaffirmed an “underperform” rating and set a $200.00 target price (up from $190.00) on shares of Credit Acceptance Corporation in a report on Tuesday, August 1st. Finally, Raymond James Financial, Inc. raised shares of Credit Acceptance Corporation from an “underperform” rating to a “market perform” rating in a report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Credit Acceptance Corporation currently has a consensus rating of “Hold” and a consensus target price of $222.38.

In other Credit Acceptance Corporation news, major shareholder Jill Foss Watson sold 29,956 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $270.81, for a total value of $8,112,384.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth Booth sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $273.01, for a total value of $546,020.00. The disclosure for this sale can be found here. In the last three months, insiders sold 152,858 shares of company stock valued at $41,562,168. 5.80% of the stock is owned by corporate insiders.

Shares of Credit Acceptance Corporation (NASDAQ CACC) opened at 268.88 on Thursday. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 14.70 and a beta of 0.50. The company has a 50-day moving average of $268.84 and a 200 day moving average of $232.41. Credit Acceptance Corporation has a one year low of $160.63 and a one year high of $281.67.

Credit Acceptance Corporation (NASDAQ:CACC) last issued its quarterly earnings results on Monday, July 31st. The credit services provider reported $5.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.89 by $0.33. Credit Acceptance Corporation had a return on equity of 32.24% and a net margin of 35.13%. The firm had revenue of $253.20 million during the quarter, compared to the consensus estimate of $268.18 million. During the same period last year, the company earned $4.38 earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities analysts forecast that Credit Acceptance Corporation will post $19.90 earnings per share for the current fiscal year.

WARNING: This piece was reported by BBNS and is the sole property of of BBNS. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of US & international copyright legislation. The original version of this piece can be read at https://baseballnewssource.com/markets/credit-acceptance-corporation-cacc-shares-bought-by-pacer-advisors-inc/1580484.html.

Credit Acceptance Corporation Company Profile

Credit Acceptance Corporation offers financing programs that enable automobile dealers to sell vehicles to consumers. The Company’s financing programs are offered through a network of automobile dealers. The Company has two Dealers financing programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, the Company advances money to dealers (Dealer Loan) in exchange for the right to service the underlying consumer loans.

Institutional Ownership by Quarter for Credit Acceptance Corporation (NASDAQ:CACC)

Receive News & Ratings for Credit Acceptance Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credit Acceptance Corporation and related companies with our FREE daily email newsletter.

 


Latest News

American League Once Again Dominates National League
American League Once Again Dominates National League
Los Angeles Dodgers Waiting But Magic Number Down to One
Los Angeles Dodgers Waiting But Magic Number Down to One
Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?
Cleveland Indians Winning Streak Snapped at 22
Cleveland Indians Winning Streak Snapped at 22


Leave a Reply

 
© 2006-2017 BBNS.