Linden Thomas Advisory Services LLC Reduces Stock Position in Credit Acceptance Co. (NASDAQ:CACC)

Linden Thomas Advisory Services LLC lowered its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 2.4% during the 4th quarter, HoldingsChannel reports. The fund owned 1,644 shares of the credit services provider’s stock after selling 41 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Credit Acceptance were worth $772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. HighTower Advisors LLC lifted its position in shares of Credit Acceptance by 5.7% during the third quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider’s stock worth $263,000 after acquiring an additional 32 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Credit Acceptance during the fourth quarter worth $28,000. Wedge Capital Management L L P NC raised its position in shares of Credit Acceptance by 2.7% in the fourth quarter. Wedge Capital Management L L P NC now owns 2,687 shares of the credit services provider’s stock worth $1,261,000 after buying an additional 70 shares in the last quarter. UMB Bank n.a. raised its position in shares of Credit Acceptance by 10.7% in the fourth quarter. UMB Bank n.a. now owns 743 shares of the credit services provider’s stock worth $349,000 after buying an additional 72 shares in the last quarter. Finally, PDT Partners LLC raised its position in shares of Credit Acceptance by 1.9% in the third quarter. PDT Partners LLC now owns 5,458 shares of the credit services provider’s stock worth $2,420,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Insider Activity at Credit Acceptance

In other news, COO Jonathan Lum sold 552 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total transaction of $270,424.80. Following the transaction, the chief operating officer now directly owns 31,493 shares of the company’s stock, valued at approximately $15,428,420.70. This trade represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CACC. TD Cowen lowered their price objective on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. StockNews.com downgraded Credit Acceptance from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Stephens began coverage on Credit Acceptance in a research report on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price objective on the stock.

Credit Acceptance Stock Down 0.1 %

CACC opened at $523.55 on Monday. The stock has a market cap of $6.34 billion, a PE ratio of 35.16 and a beta of 1.46. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79. Credit Acceptance Co. has a 52 week low of $409.22 and a 52 week high of $616.66. The business’s fifty day simple moving average is $476.50 and its 200 day simple moving average is $475.15.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, beating analysts’ consensus estimates of $7.88 by $0.91. The business had revenue of $550.30 million for the quarter, compared to analysts’ expectations of $548.13 million. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.70 earnings per share. As a group, research analysts expect that Credit Acceptance Co. will post 36.53 earnings per share for the current fiscal year.

Credit Acceptance 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.