Credit Acceptance Co. (NASDAQ:CACC) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC reduced its position in Credit Acceptance Co. (NASDAQ:CACCGet Rating) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,220 shares of the credit services provider’s stock after selling 103 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.13% of Credit Acceptance worth $8,152,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its stake in shares of Credit Acceptance by 920.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 51 shares of the credit services provider’s stock worth $28,000 after acquiring an additional 46 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of Credit Acceptance by 251.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 95 shares of the credit services provider’s stock worth $45,000 after acquiring an additional 68 shares during the last quarter. Knuff & Co LLC acquired a new stake in shares of Credit Acceptance in the 1st quarter worth $54,000. MetLife Investment Management LLC acquired a new stake in shares of Credit Acceptance in the 1st quarter worth $101,000. Finally, US Bancorp DE increased its stake in shares of Credit Acceptance by 94.7% in the 2nd quarter. US Bancorp DE now owns 222 shares of the credit services provider’s stock worth $105,000 after acquiring an additional 108 shares during the last quarter. 63.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. BMO Capital Markets cut their target price on Credit Acceptance from $477.00 to $364.00 and set a “market perform” rating for the company in a research note on Thursday, November 3rd. Credit Suisse Group cut their target price on Credit Acceptance from $430.00 to $410.00 and set an “underperform” rating for the company in a research note on Wednesday, November 2nd. Stephens cut their price objective on Credit Acceptance from $519.00 to $442.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 2nd. Finally, StockNews.com started coverage on Credit Acceptance in a research report on Wednesday, October 12th. They set a “hold” rating for the company.

Credit Acceptance Stock Up 1.1 %

Shares of NASDAQ:CACC opened at $480.07 on Thursday. The business has a 50-day moving average price of $459.65 and a 200 day moving average price of $512.56. The company has a current ratio of 15.89, a quick ratio of 15.89 and a debt-to-equity ratio of 2.79. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 10.92 and a beta of 1.37. Credit Acceptance Co. has a 12-month low of $397.58 and a 12-month high of $699.08.

Credit Acceptance Company Profile

(Get Rating)

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

Further Reading

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Institutional Ownership by Quarter for Credit Acceptance (NASDAQ:CACC)

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