Credit Acceptance (NASDAQ:CACC) Now Covered by Stephens

Equities research analysts at Stephens assumed coverage on shares of Credit Acceptance (NASDAQ:CACC) in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage set an “equal weight” rating and a $452.00 price target on the credit services provider’s stock. Stephens’ price objective points to a potential upside of 2.82% from the stock’s current price.

CACC has been the subject of a number of other reports. TD Cowen lowered their price objective on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a report on Friday, November 1st. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Tuesday.

Credit Acceptance Trading Down 1.9 %

Shares of Credit Acceptance stock opened at $439.61 on Wednesday. The firm has a market cap of $5.32 billion, a PE ratio of 29.52 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 has a 1 year low of $406.53 and a 1 year high of $616.66. The company has a 50 day simple moving average of $449.49 and a two-hundred day simple moving average of $484.29.

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

Insider Buying and Selling

In other Credit Acceptance news, insider Thomas W. Smith sold 1,200 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $451.01, for a total transaction of $541,212.00. Following the transaction, the insider now directly owns 74,450 shares of the company’s stock, valued at approximately $33,577,694.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CACC. nVerses Capital LLC purchased a new position in Credit Acceptance during the 2nd quarter valued at $51,000. Quest Partners LLC increased its position in Credit Acceptance by 11,900.0% during the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock valued at $53,000 after purchasing an additional 119 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Credit Acceptance during the 1st quarter valued at $156,000. MQS Management LLC bought a new stake in shares of Credit Acceptance during the 1st quarter valued at $242,000. Finally, Headlands Technologies LLC boosted its holdings in shares of Credit Acceptance by 24,850.0% during the 2nd quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock valued at $257,000 after buying an additional 497 shares in the last quarter. 81.71% of the stock is owned by hedge funds and other institutional investors.

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.