State of New Jersey Common Pension Fund D Buys 708 Shares of Credit Acceptance Co. (NASDAQ:CACC)

State of New Jersey Common Pension Fund D lifted its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 14.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,685 shares of the credit services provider’s stock after purchasing an additional 708 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Credit Acceptance were worth $3,029,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CACC. Whittier Trust Co. bought a new position in Credit Acceptance in the 4th quarter valued at about $74,000. Harbor Capital Advisors Inc. lifted its position in Credit Acceptance by 15.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 338 shares of the credit services provider’s stock valued at $180,000 after acquiring an additional 46 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new position in Credit Acceptance in the 4th quarter valued at about $261,000. PFG Investments LLC bought a new position in Credit Acceptance in the 3rd quarter valued at about $276,000. Finally, Versor Investments LP bought a new position in Credit Acceptance in the 3rd quarter valued at about $280,000. Institutional investors own 81.71% of the company’s stock.

Credit Acceptance Trading Up 2.1 %

NASDAQ:CACC opened at $526.60 on Friday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 15.71 and a current ratio of 15.71. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 23.91 and a beta of 1.45. Credit Acceptance Co. has a 52 week low of $379.77 and a 52 week high of $616.66. The firm has a 50-day moving average price of $547.08 and a two-hundred day moving average price of $507.97.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Wednesday, January 31st. The credit services provider reported $10.06 EPS for the quarter, beating the consensus estimate of $9.17 by $0.89. The firm had revenue of $491.60 million during the quarter, compared to analyst estimates of $478.80 million. Credit Acceptance had a net margin of 15.04% and a return on equity of 30.94%. On average, equities analysts expect that Credit Acceptance Co. will post 40.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, insider Douglas W. Busk sold 2,500 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $572.58, for a total value of $1,431,450.00. Following the completion of the sale, the insider now owns 3,112 shares in the company, valued at approximately $1,781,868.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Douglas W. Busk sold 500 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $579.98, for a total transaction of $289,990.00. Following the completion of the sale, the insider now owns 3,112 shares in the company, valued at approximately $1,804,897.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas W. Busk sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $572.58, for a total transaction of $1,431,450.00. Following the sale, the insider now owns 3,112 shares of the company’s stock, valued at approximately $1,781,868.96. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $381.75.

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.