Smead Capital Management Inc. Lowers Stock Position in Credit Acceptance Co. (NASDAQ:CACC)

Smead Capital Management Inc. lowered its position in Credit Acceptance Co. (NASDAQ:CACC) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,486 shares of the credit services provider’s stock after selling 653 shares during the period. Credit Acceptance comprises about 1.7% of Smead Capital Management Inc.’s portfolio, making the stock its 22nd largest position. Smead Capital Management Inc. owned about 1.45% of Credit Acceptance worth $97,216,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Realta Investment Advisors boosted its position in Credit Acceptance by 2.4% during the fourth quarter. Realta Investment Advisors now owns 854 shares of the credit services provider’s stock worth $455,000 after purchasing an additional 20 shares during the period. Arizona State Retirement System boosted its position in shares of Credit Acceptance by 1.4% in the third quarter. Arizona State Retirement System now owns 1,827 shares of the credit services provider’s stock valued at $841,000 after acquiring an additional 25 shares during the period. M&T Bank Corp boosted its position in shares of Credit Acceptance by 2.7% in the third quarter. M&T Bank Corp now owns 1,038 shares of the credit services provider’s stock valued at $478,000 after acquiring an additional 27 shares during the period. UBS Group AG boosted its position in shares of Credit Acceptance by 1.7% in the third quarter. UBS Group AG now owns 1,597 shares of the credit services provider’s stock valued at $700,000 after acquiring an additional 27 shares during the period. Finally, Macquarie Group Ltd. boosted its position in shares of Credit Acceptance by 4.7% in the second quarter. Macquarie Group Ltd. now owns 629 shares of the credit services provider’s stock valued at $298,000 after acquiring an additional 28 shares during the period. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Credit Acceptance Trading Up 0.8 %

Credit Acceptance stock traded up $4.03 during mid-day trading on Thursday, reaching $536.58. 15,357 shares of the company traded hands, compared to its average volume of 67,915. The company has a debt-to-equity ratio of 2.84, a current ratio of 15.71 and a quick ratio of 15.71. The firm’s 50 day moving average price is $551.70 and its 200 day moving average price is $503.66. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 24.18 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.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Credit Acceptance

In other news, insider Douglas W. Busk sold 2,500 shares of the company’s 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 sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $1,781,868.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Douglas W. Busk sold 500 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $579.98, for a total transaction of $289,990.00. Following the sale, the insider now owns 3,112 shares of the company’s stock, valued at approximately $1,804,897.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas W. Busk sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $572.58, for a total transaction of $1,431,450.00. Following the sale, the insider now directly owns 3,112 shares in the company, valued at approximately $1,781,868.96. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

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.