Makaira Partners LLC lifted its stake in Credit Acceptance Corporation (NASDAQ:CACC) by 11.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,252 shares of the credit services provider’s stock after purchasing an additional 2,252 shares during the quarter. Credit Acceptance Corporation comprises about 0.7% of Makaira Partners LLC’s portfolio, making the stock its 11th largest holding. Makaira Partners LLC owned about 0.11% of Credit Acceptance Corporation worth $5,722,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in shares of Credit Acceptance Corporation by 46.1% in the 1st quarter. Russell Investments Group Ltd. now owns 732 shares of the credit services provider’s stock valued at $146,000 after purchasing an additional 231 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Credit Acceptance Corporation by 102.8% in the 2nd quarter. SG Americas Securities LLC now owns 618 shares of the credit services provider’s stock valued at $159,000 after purchasing an additional 22,463 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Credit Acceptance Corporation in the 1st quarter valued at approximately $177,000. Karp Capital Management Corp purchased a new position in shares of Credit Acceptance Corporation in the 1st quarter valued at approximately $244,000. Finally, Gotham Asset Management LLC purchased a new position in shares of Credit Acceptance Corporation in the 1st quarter valued at approximately $270,000. 72.71% of the stock is owned by hedge funds and other institutional investors.

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Several brokerages recently commented on CACC. BMO Capital Markets reaffirmed a “hold” rating and issued a $238.00 price objective on shares of Credit Acceptance Corporation in a research report on Friday. Zacks Investment Research lowered shares of Credit Acceptance Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $240.00 price objective (up from $215.00) on shares of Credit Acceptance Corporation in a research report on Tuesday, August 1st. BidaskClub lowered shares of Credit Acceptance Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, Credit Suisse Group reaffirmed an “underperform” rating and issued a $200.00 price objective (up from $190.00) on shares of Credit Acceptance Corporation in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $222.38.

Credit Acceptance Corporation (NASDAQ:CACC) traded up 0.49% during trading on Friday, reaching $286.96. 212,470 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $270.85 and a 200-day moving average of $239.23. The stock has a market capitalization of $5.58 billion, a PE ratio of 15.68 and a beta of 0.55. Credit Acceptance Corporation has a 52 week low of $160.63 and a 52 week high of $288.23.

Credit Acceptance Corporation (NASDAQ:CACC) last announced its quarterly earnings results on Monday, July 31st. The credit services provider reported $5.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.89 by $0.33. The firm had revenue of $253.20 million during the quarter, compared to the consensus estimate of $268.18 million. Credit Acceptance Corporation had a return on equity of 32.24% and a net margin of 35.13%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.38 earnings per share. On average, equities research analysts anticipate that Credit Acceptance Corporation will post $19.90 EPS for the current year.

In other news, insider Douglas W. Busk sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $267.72, for a total value of $669,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Jill Foss Watson sold 35,751 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $270.82, for a total value of $9,682,085.82. The disclosure for this sale can be found here. Insiders sold 152,858 shares of company stock valued at $41,562,168 over the last ninety days. 5.80% of the stock is currently owned by corporate insiders.

Credit Acceptance Corporation Profile

Credit Acceptance Corporation offers financing programs that enable automobile dealers to sell vehicles to consumers. The Company’s financing programs are offered through a network of automobile dealers. The Company has two Dealers financing programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, the Company advances money to dealers (Dealer Loan) in exchange for the right to service the underlying consumer loans.

Institutional Ownership by Quarter for Credit Acceptance Corporation (NASDAQ:CACC)

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