Virtu Financial LLC Reduces Position in Credit Acceptance Corp. (NASDAQ:CACC)

Virtu Financial LLC decreased its holdings in shares of Credit Acceptance Corp. (NASDAQ:CACC) by 35.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 619 shares of the credit services provider’s stock after selling 335 shares during the period. Virtu Financial LLC’s holdings in Credit Acceptance were worth $286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Virginia Retirement Systems ET AL raised its holdings in Credit Acceptance by 29.2% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 3,100 shares of the credit services provider’s stock worth $1,500,000 after purchasing an additional 700 shares during the period. SG Americas Securities LLC grew its stake in shares of Credit Acceptance by 41.5% during the 2nd quarter. SG Americas Securities LLC now owns 662 shares of the credit services provider’s stock valued at $320,000 after acquiring an additional 194 shares during the period. HWG Holdings LP bought a new position in shares of Credit Acceptance during the 2nd quarter valued at approximately $180,000. Janney Montgomery Scott LLC increased its holdings in Credit Acceptance by 37.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 2,697 shares of the credit services provider’s stock worth $1,305,000 after acquiring an additional 730 shares in the last quarter. Finally, Dupont Capital Management Corp increased its holdings in Credit Acceptance by 23.3% in the 2nd quarter. Dupont Capital Management Corp now owns 4,081 shares of the credit services provider’s stock worth $1,975,000 after acquiring an additional 770 shares in the last quarter. 59.70% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have commented on CACC shares. BMO Capital Markets decreased their target price on shares of Credit Acceptance to $472.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 5th. ValuEngine cut shares of Credit Acceptance from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub downgraded shares of Credit Acceptance from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 30th. Finally, Credit Suisse Group raised their price objective on shares of Credit Acceptance from $380.00 to $390.00 and gave the company an “underperform” rating in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. Credit Acceptance has an average rating of “Hold” and a consensus price target of $444.17.

In other news, CEO Brett A. Roberts sold 9,937 shares of Credit Acceptance stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $427.63, for a total transaction of $4,249,359.31. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kenneth Booth acquired 1,250 shares of Credit Acceptance stock in a transaction dated Tuesday, November 5th. The shares were bought at an average price of $410.61 per share, for a total transaction of $513,262.50. The disclosure for this purchase can be found here. Corporate insiders own 5.00% of the company’s stock.

Shares of Credit Acceptance stock opened at $437.45 on Friday. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.13 and a beta of 0.69. The company has a quick ratio of 29.49, a current ratio of 29.49 and a debt-to-equity ratio of 1.75. The stock’s 50-day simple moving average is $438.25 and its 200-day simple moving average is $463.31. Credit Acceptance Corp. has a 52 week low of $356.12 and a 52 week high of $509.99.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Friday, November 1st. The credit services provider reported $8.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.86 by $0.03. Credit Acceptance had a return on equity of 29.54% and a net margin of 44.69%. The company had revenue of $378.70 million for the quarter, compared to the consensus estimate of $380.69 million. During the same quarter last year, the company earned $7.56 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts expect that Credit Acceptance Corp. will post 34.85 earnings per share for the current year.

Credit Acceptance Profile

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

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

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