Credit Acceptance Co. (NASDAQ:CACC) Stock Position Decreased by BNP Paribas Financial Markets

BNP Paribas Financial Markets cut its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,507 shares of the credit services provider’s stock after selling 459 shares during the quarter. BNP Paribas Financial Markets’ holdings in Credit Acceptance were worth $2,401,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CACC. Realta Investment Advisors lifted its holdings in shares of Credit Acceptance by 2.4% in the fourth quarter. Realta Investment Advisors now owns 854 shares of the credit services provider’s stock valued at $455,000 after purchasing an additional 20 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Credit Acceptance by 7.4% in 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 purchasing an additional 44,454 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Credit Acceptance in the fourth quarter valued at $472,516,000. Barclays PLC lifted its holdings in shares of Credit Acceptance by 385.9% in the third quarter. Barclays PLC now owns 8,610 shares of the credit services provider’s stock valued at $3,961,000 after purchasing an additional 6,838 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Credit Acceptance by 0.4% in the third quarter. Vanguard Group Inc. now owns 590,161 shares of the credit services provider’s stock valued at $271,545,000 after purchasing an additional 2,631 shares in the last quarter. 81.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Credit Acceptance news, insider Douglas W. Busk sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $572.58, for a total transaction of $1,431,450.00. Following the transaction, the insider now directly owns 3,112 shares in the company, valued at $1,781,868.96. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.20% of the stock is owned by corporate insiders.

Credit Acceptance Price Performance

Shares of NASDAQ:CACC opened at $476.01 on Friday. 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 1 year low of $379.77 and a 1 year high of $616.66. The business has a fifty day simple moving average of $530.49 and a 200 day simple moving average of $518.98. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 24.42 and a beta of 1.44.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $9.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.81 by $2.47. Credit Acceptance had a return on equity of 30.70% and a net margin of 12.83%. The business had revenue of $508.00 million during the quarter, compared to analyst estimates of $497.71 million. During the same period last year, the company earned $9.71 earnings per share. Credit Acceptance’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Credit Acceptance Co. will post 40.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CACC has been the subject of a number of research analyst reports. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. TD Cowen reduced their target price on Credit Acceptance from $465.00 to $420.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Credit Acceptance presently has a consensus rating of “Hold” and a consensus price target of $402.33.

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.