Credit Acceptance Corporation $CACC Shares Sold by Smead Capital Management Inc.

Smead Capital Management Inc. cut its stake in Credit Acceptance Corporation (NASDAQ:CACC) by 6.5% in the fourth quarter, Holdings Channel reports. The firm owned 188,334 shares of the credit services provider’s stock after selling 13,068 shares during the period. Credit Acceptance comprises 1.7% of Smead Capital Management Inc.’s holdings, making the stock its 25th largest position. Smead Capital Management Inc.’s holdings in Credit Acceptance were worth $83,518,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP boosted its stake in Credit Acceptance by 141.9% in the 3rd quarter. Allworth Financial LP now owns 104 shares of the credit services provider’s stock worth $49,000 after purchasing an additional 61 shares in the last quarter. Vestcor Inc acquired a new stake in Credit Acceptance in the 3rd quarter worth approximately $50,000. Covestor Ltd boosted its stake in Credit Acceptance by 775.0% in the 4th quarter. Covestor Ltd now owns 175 shares of the credit services provider’s stock worth $78,000 after purchasing an additional 155 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Credit Acceptance in the 2nd quarter worth approximately $150,000. Finally, Prudential Financial Inc. acquired a new stake in Credit Acceptance in the 2nd quarter worth approximately $215,000. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Credit Acceptance Stock Performance

Shares of NASDAQ CACC opened at $544.80 on Friday. The company has a current ratio of 13.62, a quick ratio of 13.62 and a debt-to-equity ratio of 4.09. Credit Acceptance Corporation has a 12 month low of $401.90 and a 12 month high of $565.14. The company has a 50 day simple moving average of $488.91 and a two-hundred day simple moving average of $473.87. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 13.54 and a beta of 1.36.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $10.71 EPS for the quarter, missing the consensus estimate of $10.73 by ($0.02). Credit Acceptance had a net margin of 19.49% and a return on equity of 29.95%. The business had revenue of $406.00 million for the quarter, compared to analyst estimates of $580.77 million. During the same quarter in the previous year, the firm posted $9.35 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. As a group, analysts predict that Credit Acceptance Corporation will post 47.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CACC has been the subject of a number of recent analyst reports. TD Cowen lifted their target price on shares of Credit Acceptance from $450.00 to $500.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Stephens lifted their target price on shares of Credit Acceptance from $450.00 to $540.00 and gave the stock an “equal weight” rating in a research note on Friday, April 17th. Weiss Ratings upgraded shares of Credit Acceptance from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Finally, Zacks Research cut shares of Credit Acceptance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Credit Acceptance presently has an average rating of “Hold” and a consensus target price of $520.00.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, CTO Ravi Mohan Valiyaveettil sold 1,262 shares of Credit Acceptance stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $550.00, for a total transaction of $694,100.00. Following the completion of the sale, the chief technology officer directly owned 25,985 shares in the company, valued at approximately $14,291,750. The trade was a 4.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Erin J. Kerber sold 1,753 shares of Credit Acceptance stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $551.62, for a total transaction of $966,989.86. Following the sale, the insider owned 25,711 shares of the company’s stock, valued at approximately $14,182,701.82. The trade was a 6.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 26,527 shares of company stock worth $14,203,265. Corporate insiders own 6.10% of the company’s stock.

Credit Acceptance Company Profile

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.