MQS Management LLC bought a new stake in Credit Acceptance Co. (NASDAQ:CACC – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 438 shares of the credit services provider’s stock, valued at approximately $242,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Credit Acceptance in the 1st quarter valued at approximately $156,000. CANADA LIFE ASSURANCE Co raised its holdings in Credit Acceptance by 3.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 2,161 shares of the credit services provider’s stock worth $1,191,000 after purchasing an additional 72 shares during the period. Edgestream Partners L.P. bought a new position in shares of Credit Acceptance during the first quarter worth $1,494,000. Entropy Technologies LP acquired a new position in shares of Credit Acceptance in the 1st quarter valued at $771,000. Finally, Russell Investments Group Ltd. increased its position in shares of Credit Acceptance by 821.9% in the 1st quarter. Russell Investments Group Ltd. now owns 3,282 shares of the credit services provider’s stock valued at $1,810,000 after buying an additional 2,926 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.
Credit Acceptance Stock Up 4.2 %
CACC traded up $23.15 during trading on Thursday, reaching $573.93. The company had a trading volume of 81,228 shares, compared to its average volume of 59,335. The business’s fifty day moving average price is $510.67 and its 200 day moving average price is $531.52. The company has a debt-to-equity ratio of 3.29, a current ratio of 13.79 and a quick ratio of 13.79. Credit Acceptance Co. has a 12 month low of $379.77 and a 12 month high of $616.66. The company has a market cap of $6.95 billion, a P/E ratio of 28.46 and a beta of 1.44.
Analyst Upgrades and Downgrades
Separately, TD Cowen reduced their target price on Credit Acceptance from $465.00 to $420.00 and set a “sell” rating on the stock in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $402.33.
Get Our Latest Stock Report on Credit Acceptance
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.
Further Reading
- Five stocks we like better than Credit Acceptance
- Canadian Penny Stocks: Can They Make You Rich?
- Viking Therapeutics: Pharma Stock Soars on Positive Earnings
- 3 Natural Gas Stocks That Offer Great Dividend Yields
- Top 3 Small Cap Stocks Emerging as Rotation Winners
- What to Know About Investing in Penny Stocks
- Bargain Alert: 3 Stocks Worth Watching While The Market Cools
Want to see what other hedge funds are holding CACC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credit Acceptance Co. (NASDAQ:CACC – Free Report).
Receive News & Ratings for Credit Acceptance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credit Acceptance and related companies with MarketBeat.com's FREE daily email newsletter.