Credit Acceptance Corporation $CACC Shares Purchased by Lodestone Wealth Management LLC

Lodestone Wealth Management LLC increased its stake in Credit Acceptance Corporation (NASDAQ:CACC) by 11.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,322 shares of the credit services provider’s stock after acquiring an additional 131 shares during the quarter. Lodestone Wealth Management LLC’s holdings in Credit Acceptance were worth $673,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Credit Acceptance in the first quarter valued at about $44,000. CWM LLC lifted its stake in Credit Acceptance by 206.3% in the 1st quarter. CWM LLC now owns 193 shares of the credit services provider’s stock valued at $100,000 after buying an additional 130 shares in the last quarter. US Bancorp DE boosted its holdings in Credit Acceptance by 35.8% in the 1st quarter. US Bancorp DE now owns 243 shares of the credit services provider’s stock worth $125,000 after buying an additional 64 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Credit Acceptance during the 1st quarter worth approximately $128,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Credit Acceptance during the first quarter valued at approximately $147,000. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Credit Acceptance Price Performance

CACC stock opened at $423.68 on Thursday. Credit Acceptance Corporation has a 1 year low of $401.90 and a 1 year high of $560.00. The company has a debt-to-equity ratio of 4.16, a current ratio of 22.03 and a quick ratio of 22.03. The firm has a market capitalization of $4.67 billion, a PE ratio of 12.21 and a beta of 1.16. The business has a 50 day simple moving average of $474.09 and a 200-day simple moving average of $490.62.

Credit Acceptance (NASDAQ:CACC) last announced 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. The firm had revenue of $405.10 million for the quarter, compared to the consensus estimate of $592.19 million. Credit Acceptance had a return on equity of 27.06% and a net margin of 18.69%.The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $9.25 earnings per share. Equities research analysts anticipate that Credit Acceptance Corporation will post 53.24 earnings per share for the current fiscal year.

Insider Transactions at Credit Acceptance

In other Credit Acceptance news, CEO Kenneth Booth sold 4,000 shares of Credit Acceptance stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $506.59, for a total transaction of $2,026,360.00. Following the transaction, the chief executive officer directly owned 68,116 shares of the company’s stock, valued at $34,506,884.44. The trade was a 5.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Lum sold 6,000 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $512.61, for a total transaction of $3,075,660.00. Following the completion of the transaction, the chief operating officer owned 31,493 shares in the company, valued at $16,143,626.73. The trade was a 16.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,697 shares of company stock worth $6,981,255 in the last quarter. Company insiders own 6.60% 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.