Quadrature Capital Ltd Invests $6.83 Million in Credit Acceptance Co. (NASDAQ:CACC)

Quadrature Capital Ltd acquired a new position in Credit Acceptance Co. (NASDAQ:CACC) during the first quarter, Holdings Channel reports. The institutional investor acquired 12,392 shares of the credit services provider’s stock, valued at approximately $6,830,000.

A number of other institutional investors have also made changes to their positions in CACC. Vanguard Group Inc. increased its stake 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 worth $271,545,000 after purchasing an additional 2,631 shares during the period. Whittier Trust Co. bought a new position in shares of Credit Acceptance in the fourth quarter worth about $74,000. SG Americas Securities LLC bought a new position in shares of Credit Acceptance in the fourth quarter worth about $459,000. PFG Investments LLC increased its stake in shares of Credit Acceptance by 25.0% in the fourth quarter. PFG Investments LLC now owns 750 shares of the credit services provider’s stock worth $400,000 after purchasing an additional 150 shares during the period. Finally, Realta Investment Advisors increased its stake 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 worth $455,000 after purchasing an additional 20 shares during the period. 81.71% of the stock is currently owned by institutional investors.

Credit Acceptance Stock Performance

CACC stock traded down $0.87 during trading on Friday, reaching $573.06. 49,248 shares of the stock were exchanged, compared to its average volume of 59,686. Credit Acceptance Co. has a twelve month low of $379.77 and a twelve month high of $616.66. The company has a market capitalization of $6.94 billion, a P/E ratio of 29.40 and a beta of 1.44. The stock has a 50 day simple moving average of $513.70 and a 200-day simple moving average of $532.05. 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 (NASDAQ:CACC) last released its earnings results on Tuesday, April 30th. The credit services provider reported $9.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $497.71 million. During the same period last year, the business earned $9.71 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Credit Acceptance Co. will post 41.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Credit Acceptance Company Profile

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.