Two Sigma Securities LLC Invests $811,000 in Credit Acceptance Corporation $CACC

Two Sigma Securities LLC acquired a new stake in Credit Acceptance Corporation (NASDAQ:CACC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,274 shares of the credit services provider’s stock, valued at approximately $811,000.

A number of other institutional investors have also modified their holdings of CACC. State of Wyoming acquired a new stake in Credit Acceptance during the fourth quarter worth approximately $27,000. Kestra Advisory Services LLC acquired a new position in Credit Acceptance in the 4th quarter valued at $27,000. Parallel Advisors LLC raised its holdings in Credit Acceptance by 590.0% in the 1st quarter. Parallel Advisors LLC now owns 69 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 59 shares during the last quarter. Altshuler Shaham Ltd lifted its stake in shares of Credit Acceptance by 37.3% during the 1st quarter. Altshuler Shaham Ltd now owns 70 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 19 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Credit Acceptance by 53.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 69 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 24 shares during the period. Institutional investors and hedge funds own 81.71% of the company’s stock.

Credit Acceptance Stock Performance

NASDAQ:CACC opened at $594.18 on Wednesday. The company has a quick ratio of 14.89, a current ratio of 14.89 and a debt-to-equity ratio of 3.84. The company has a market cap of $6.22 billion, a P/E ratio of 13.06 and a beta of 1.35. Credit Acceptance Corporation has a fifty-two week low of $401.90 and a fifty-two week high of $668.86. The firm’s 50 day moving average is $602.97 and its two-hundred day moving average is $540.66.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Tuesday, August 4th. The credit services provider reported $12.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.20 by ($0.08). The company had revenue of $415.00 million for the quarter, compared to analysts’ expectations of $588.07 million. Credit Acceptance had a net margin of 21.54% and a return on equity of 31.67%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $10.05 earnings per share. Analysts expect that Credit Acceptance Corporation will post 47.8 EPS for the current year.

Insider Transactions at Credit Acceptance

In other Credit Acceptance news, insider Nicholas J. Elliott sold 3,487 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $601.01, for a total transaction of $2,095,721.87. Following the completion of the sale, the insider directly owned 20,897 shares in the company, valued at $12,559,305.97. This represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jill Foss Watson sold 11,000 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $653.24, for a total value of $7,185,640.00. Following the sale, the insider owned 49,346 shares of the company’s stock, valued at $32,234,781.04. This represents a 18.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 44,289 shares of company stock valued at $27,525,241 in the last ninety days. Company insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. TD Cowen lifted their price objective on Credit Acceptance from $575.00 to $600.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Zacks Research downgraded Credit Acceptance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings raised Credit Acceptance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Credit Acceptance presently has an average rating of “Hold” and a consensus price target of $570.00.

About Credit Acceptance

Credit Acceptance Corporation, founded in 1972 and headquartered in Southfield, Michigan, is a specialty finance company focused on the indirect automotive lending market. The company partners with independent and franchised auto dealers to facilitate purchase financing for consumers who may not qualify for traditional prime auto loans. By purchasing retail installment contracts originated by these dealers, Credit Acceptance provides capital and credit insurance to support vehicle sales, enabling dealers to broaden their customer base and reduce credit risk.

Through its proprietary underwriting platform and risk management strategies, Credit Acceptance evaluates borrower applications, structures credit plans, and retains servicing rights on the acquired contracts.