Panagora Asset Management Inc. purchased a new stake in Credit Acceptance Co. (NASDAQ:CACC – Free Report) in the 4th quarter, HoldingsChannel reports. The fund purchased 395 shares of the credit services provider’s stock, valued at approximately $210,000.
Several other hedge funds have also bought and sold shares of CACC. Realta Investment Advisors lifted its stake in shares of Credit Acceptance by 2.4% in the fourth quarter. Realta Investment Advisors now owns 854 shares of the credit services provider’s stock valued at $455,000 after buying an additional 20 shares in the last quarter. Arizona State Retirement System boosted its stake in Credit Acceptance by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 1,827 shares of the credit services provider’s stock valued at $841,000 after purchasing an additional 25 shares during the last quarter. M&T Bank Corp boosted its stake in Credit Acceptance by 2.7% during the 3rd quarter. M&T Bank Corp now owns 1,038 shares of the credit services provider’s stock valued at $478,000 after purchasing an additional 27 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Credit Acceptance by 0.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,163 shares of the credit services provider’s stock worth $1,915,000 after purchasing an additional 29 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Credit Acceptance by 15.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 338 shares of the credit services provider’s stock worth $180,000 after purchasing an additional 46 shares during the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.
Credit Acceptance Stock Performance
Shares of Credit Acceptance stock opened at $481.29 on Friday. The firm has a market capitalization of $5.83 billion, a P/E ratio of 24.69 and a beta of 1.44. The company has a current ratio of 13.79, a quick ratio of 13.79 and a debt-to-equity ratio of 3.29. The business’s fifty day simple moving average is $529.14 and its 200 day simple moving average is $519.34. Credit Acceptance Co. has a 12 month low of $379.77 and a 12 month high of $616.66.
Analyst Ratings Changes
Several equities research analysts recently issued reports on CACC shares. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. TD Cowen reduced their target price on shares of Credit Acceptance from $465.00 to $420.00 and set a “sell” rating for the company in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Credit Acceptance currently has an average rating of “Hold” and an average target price of $402.33.
Read Our Latest Stock Analysis on Credit Acceptance
Insiders Place Their Bets
In other news, insider Douglas W. Busk sold 2,500 shares of the company’s stock in a transaction 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 transaction, the insider now owns 3,112 shares of the company’s stock, valued at approximately $1,781,868.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company 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.
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