Credit Acceptance Co. (NASDAQ:CACC – Get Free Report) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 493,800 shares, an increase of 8.8% from the November 30th total of 453,900 shares. Based on an average daily trading volume, of 63,600 shares, the short-interest ratio is currently 7.8 days. Currently, 7.8% of the shares of the stock are sold short.
Credit Acceptance Trading Up 1.1 %
Shares of CACC traded up $5.26 during midday trading on Tuesday, reaching $469.46. The company had a trading volume of 46,401 shares, compared to its average volume of 59,347. Credit Acceptance has a 1-year low of $409.22 and a 1-year high of $616.66. 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 firm has a 50 day simple moving average of $466.57 and a 200-day simple moving average of $478.74. The stock has a market cap of $5.69 billion, a PE ratio of 31.53 and a beta of 1.46.
Credit Acceptance (NASDAQ:CACC – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.88 by $0.91. The firm had revenue of $550.30 million during the quarter, compared to analysts’ expectations of $548.13 million. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. Credit Acceptance’s revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business earned $10.70 earnings per share. Research analysts forecast that Credit Acceptance will post 36.54 EPS for the current fiscal year.
Insiders Place Their Bets
Institutional Trading of Credit Acceptance
Several institutional investors have recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in Credit Acceptance during the second quarter worth $51,000. Quest Partners LLC increased its position in shares of Credit Acceptance by 11,900.0% during the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after purchasing an additional 119 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Credit Acceptance in the 3rd quarter valued at about $177,000. Headlands Technologies LLC lifted its position in Credit Acceptance by 24,850.0% in the second 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 during the last quarter. Finally, Creative Planning acquired a new position in Credit Acceptance in the second quarter valued at about $282,000. Hedge funds and other institutional investors own 81.71% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. Stephens initiated coverage on shares of Credit Acceptance in a research note on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price target on the stock. TD Cowen decreased their target price on shares of 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 upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th.
Read Our Latest Research Report on CACC
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.
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