Credit Acceptance Co. (NASDAQ:CACC – Get Free Report) gapped down prior to trading on Thursday after TD Cowen lowered their price target on the stock from $440.00 to $400.00. The stock had previously closed at $574.90, but opened at $525.00. TD Cowen currently has a sell rating on the stock. Credit Acceptance shares last traded at $524.20, with a volume of 20,815 shares traded.
Institutional Investors Weigh In On Credit Acceptance
Several institutional investors and hedge funds have recently bought and sold shares of the business. Cerity Partners LLC purchased a new stake in Credit Acceptance in the 4th quarter worth approximately $472,516,000. Crow s Nest Holdings LP lifted its stake in shares of Credit Acceptance by 39.4% in the 4th quarter. Crow s Nest Holdings LP now owns 92,000 shares of the credit services provider’s stock valued at $49,011,000 after purchasing an additional 26,000 shares during the period. Goodnow Investment Group LLC lifted its stake in shares of Credit Acceptance by 17.0% in the 4th quarter. Goodnow Investment Group LLC now owns 77,941 shares of the credit services provider’s stock valued at $41,522,000 after purchasing an additional 11,310 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Credit Acceptance by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 75,927 shares of the credit services provider’s stock valued at $40,449,000 after purchasing an additional 4,734 shares during the period. Finally, JARISLOWSKY FRASER Ltd lifted its stake in shares of Credit Acceptance by 12.0% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 71,262 shares of the credit services provider’s stock valued at $37,963,000 after purchasing an additional 7,612 shares during the period. Hedge funds and other institutional investors own 81.71% of the company’s stock.
Credit Acceptance Trading Down 1.9 %
The company has a market cap of $5.81 billion, a PE ratio of 24.63 and a beta of 1.44. The company has a current ratio of 19.15, a quick ratio of 13.79 and a debt-to-equity ratio of 3.77. The stock has a 50 day moving average price of $518.92 and a 200 day moving average price of $532.30.
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.
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