Credit Acceptance Co. (NASDAQ:CACC) Stock Holdings Boosted by Abrams Bison Investments LLC

Abrams Bison Investments LLC lifted its position in shares of Credit Acceptance Co. (NASDAQ:CACC) by 30.5% in the third quarter, HoldingsChannel.com reports. The firm owned 228,306 shares of the credit services provider’s stock after purchasing an additional 53,306 shares during the period. Credit Acceptance comprises 8.7% of Abrams Bison Investments LLC’s investment portfolio, making the stock its 6th largest position. Abrams Bison Investments LLC’s holdings in Credit Acceptance were worth $101,235,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. PDT Partners LLC boosted its holdings in Credit Acceptance by 1.9% in the third quarter. PDT Partners LLC now owns 5,458 shares of the credit services provider’s stock valued at $2,420,000 after acquiring an additional 100 shares in the last quarter. MIG Capital LLC boosted its stake in shares of Credit Acceptance by 18.7% during the 3rd quarter. MIG Capital LLC now owns 116,491 shares of the credit services provider’s stock valued at $51,654,000 after purchasing an additional 18,351 shares in the last quarter. Kize Capital LP increased its position in shares of Credit Acceptance by 9.2% during the third quarter. Kize Capital LP now owns 68,077 shares of the credit services provider’s stock valued at $30,187,000 after buying an additional 5,760 shares during the period. Bridgewater Associates LP purchased a new position in shares of Credit Acceptance during the third quarter valued at about $1,006,000. Finally, FMR LLC raised its stake in Credit Acceptance by 13.1% in the third quarter. FMR LLC now owns 1,037 shares of the credit services provider’s stock worth $460,000 after buying an additional 120 shares in the last quarter. 81.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity at Credit Acceptance

In other news, insider Thomas W. Smith sold 1,200 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 74,450 shares in the company, valued at approximately $33,577,694.50. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.30% of the stock is currently owned by insiders.

Credit Acceptance Stock Performance

Shares of CACC opened at $497.70 on Friday. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79. The stock has a market cap of $6.03 billion, a P/E ratio of 33.43 and a beta of 1.42. The business’s 50 day moving average price is $454.97 and its 200-day moving average price is $480.42. Credit Acceptance Co. has a 52 week low of $409.22 and a 52 week high of $616.66.

Credit Acceptance (NASDAQ:CACC) last released 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. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The business had revenue of $550.30 million for the quarter, compared to the consensus estimate of $548.13 million. During the same period in the previous year, the company posted $10.70 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities research analysts anticipate that Credit Acceptance Co. will post 37.14 earnings per share for the current fiscal year.

Credit Acceptance 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.