Credit Acceptance Co. (NASDAQ:CACC) Stock Position Lifted by Kize Capital LP

Kize Capital LP grew its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC) by 9.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,077 shares of the credit services provider’s stock after purchasing an additional 5,760 shares during the quarter. Credit Acceptance makes up 35.3% of Kize Capital LP’s investment portfolio, making the stock its largest holding. Kize Capital LP owned 0.56% of Credit Acceptance worth $30,187,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in Credit Acceptance in the second quarter worth $51,000. Quest Partners LLC raised its stake in Credit Acceptance by 11,900.0% in the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock valued at $53,000 after acquiring an additional 119 shares during the period. Headlands Technologies LLC lifted its holdings in Credit Acceptance by 24,850.0% during the second quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock valued at $257,000 after purchasing an additional 497 shares during the last quarter. Lountzis Asset Management LLC boosted its position in Credit Acceptance by 22.3% during the third quarter. Lountzis Asset Management LLC now owns 598 shares of the credit services provider’s stock worth $265,000 after purchasing an additional 109 shares during the period. Finally, Creative Planning purchased a new position in shares of Credit Acceptance in the second quarter worth about $282,000. 81.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Credit Acceptance

In related news, insider Thomas W. Smith sold 1,200 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $451.01, for a total value of $541,212.00. Following the completion of the transaction, the insider now directly owns 74,450 shares in the company, valued at approximately $33,577,694.50. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.30% of the stock is currently owned by insiders.

Credit Acceptance Stock Down 0.4 %

Shares of NASDAQ:CACC opened at $483.20 on Wednesday. The firm has a fifty day moving average price of $452.66 and a two-hundred day moving average price of $480.45. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 32.45 and a beta of 1.42. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $616.66.

Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, topping the consensus estimate of $7.88 by $0.91. The business had revenue of $550.30 million during the quarter, compared to analysts’ expectations of $548.13 million. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the business earned $10.70 earnings per share. Analysts anticipate that Credit Acceptance Co. will post 37.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Stephens began coverage on shares of Credit Acceptance in a research note on Wednesday, November 13th. They set an “equal weight” rating and a $452.00 price target on the stock. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, TD Cowen reduced their price target on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a research report on Friday, November 1st.

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.