SG Americas Securities LLC Buys 1,962 Shares of Credit Acceptance Corporation $CACC

SG Americas Securities LLC raised its stake in Credit Acceptance Corporation (NASDAQ:CACC) by 430.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,418 shares of the credit services provider’s stock after purchasing an additional 1,962 shares during the period. SG Americas Securities LLC’s holdings in Credit Acceptance were worth $1,129,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in shares of Credit Acceptance by 31.6% in the first quarter. Royal Bank of Canada now owns 1,916 shares of the credit services provider’s stock valued at $989,000 after buying an additional 460 shares during the period. AQR Capital Management LLC raised its holdings in Credit Acceptance by 230.6% in the 1st quarter. AQR Capital Management LLC now owns 7,885 shares of the credit services provider’s stock valued at $3,961,000 after acquiring an additional 5,500 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Credit Acceptance by 3.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 23,886 shares of the credit services provider’s stock worth $12,334,000 after acquiring an additional 900 shares during the period. Wedge Capital Management L L P NC grew its holdings in shares of Credit Acceptance by 12.9% during the 2nd quarter. Wedge Capital Management L L P NC now owns 3,276 shares of the credit services provider’s stock worth $1,669,000 after purchasing an additional 375 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of Credit Acceptance by 10.3% during the second quarter. Public Employees Retirement System of Ohio now owns 2,296 shares of the credit services provider’s stock valued at $1,170,000 after purchasing an additional 215 shares during the period. Institutional investors own 81.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Credit Acceptance in a research report on Wednesday, October 8th. Cowen upgraded shares of Credit Acceptance from a “sell” rating to a “hold” rating in a research note on Thursday, January 8th. Finally, TD Cowen upgraded shares of Credit Acceptance from a “sell” rating to a “hold” rating and set a $460.00 target price on the stock in a research report on Thursday, January 8th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $480.00.

Credit Acceptance Stock Performance

Credit Acceptance stock opened at $472.03 on Friday. The firm has a market capitalization of $5.21 billion, a P/E ratio of 12.50 and a beta of 1.24. The stock has a fifty day moving average price of $454.96 and a two-hundred day moving average price of $479.70. Credit Acceptance Corporation has a 52-week low of $401.90 and a 52-week high of $560.00. The company has a debt-to-equity ratio of 3.94, a current ratio of 15.81 and a quick ratio of 15.81.

Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Thursday, October 30th. The credit services provider reported $10.28 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $592.19 million. During the same quarter in the prior year, the firm earned $9.25 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, analysts anticipate that Credit Acceptance Corporation will post 53.24 EPS for the current fiscal year.

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.