JARISLOWSKY FRASER Ltd Decreases Position in Credit Acceptance Corporation $CACC

JARISLOWSKY FRASER Ltd decreased its position in shares of Credit Acceptance Corporation (NASDAQ:CACC) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,214 shares of the credit services provider’s stock after selling 1,265 shares during the quarter. JARISLOWSKY FRASER Ltd owned 0.62% of Credit Acceptance worth $32,318,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in Credit Acceptance by 20,200.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 203 shares of the credit services provider’s stock valued at $95,000 after acquiring an additional 202 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Credit Acceptance during the second quarter valued at $150,000. Jump Financial LLC purchased a new stake in shares of Credit Acceptance during the first quarter valued at $213,000. Prudential Financial Inc. purchased a new position in Credit Acceptance in the 2nd quarter worth about $215,000. Finally, EP Wealth Advisors LLC purchased a new stake in Credit Acceptance during the 1st quarter valued at $217,000. Institutional investors own 81.71% of the company’s stock.

Credit Acceptance Stock Up 2.4%

CACC stock opened at $453.92 on Friday. Credit Acceptance Corporation has a twelve month low of $401.90 and a twelve month high of $560.00. The stock has a market cap of $5.01 billion, a P/E ratio of 12.02 and a beta of 1.24. The business’s 50-day moving average price is $452.07 and its 200-day moving average price is $482.63. The company has a quick ratio of 15.81, a current ratio of 15.81 and a debt-to-equity ratio of 3.94.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data on Thursday, October 30th. The credit services provider reported $10.28 EPS for the quarter, topping analysts’ consensus estimates of $9.61 by $0.67. Credit Acceptance had a net margin of 19.70% and a return on equity of 27.88%. The business had revenue of $405.10 million for the quarter, compared to analysts’ expectations of $592.19 million. During the same quarter last year, the company earned $9.25 EPS. The business’s revenue was up 5.8% on a year-over-year basis. On average, equities research analysts forecast that Credit Acceptance Corporation will post 53.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CACC. Cowen restated a “sell” rating on shares of Credit Acceptance in a research note on Friday, October 31st. TD Cowen dropped their price objective on shares of Credit Acceptance from $450.00 to $430.00 and set a “sell” rating on the stock in a report on Friday, October 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Credit Acceptance in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $465.00.

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.