AXQ Capital LP Buys 414 Shares of Credit Acceptance Co. (NASDAQ:CACC)

AXQ Capital LP increased its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 33.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,668 shares of the credit services provider’s stock after buying an additional 414 shares during the period. AXQ Capital LP’s holdings in Credit Acceptance were worth $783,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CACC. Eagle Bay Advisors LLC acquired a new stake in shares of Credit Acceptance during the 4th quarter worth approximately $28,000. First Horizon Advisors Inc. bought a new position in Credit Acceptance in the 4th quarter valued at approximately $34,000. TD Private Client Wealth LLC acquired a new stake in Credit Acceptance in the fourth quarter valued at approximately $37,000. Farther Finance Advisors LLC bought a new stake in shares of Credit Acceptance during the fourth quarter worth $38,000. Finally, Quest Partners LLC increased its holdings in shares of Credit Acceptance by 11,900.0% during the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after buying an additional 119 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CACC. Stephens boosted their price objective on Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st.

Credit Acceptance Stock Performance

NASDAQ:CACC opened at $495.49 on Friday. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. The company has a 50 day simple moving average of $496.81 and a two-hundred day simple moving average of $472.48. Credit Acceptance Co. has a fifty-two week low of $409.22 and a fifty-two week high of $614.96. The company has a market capitalization of $5.96 billion, a PE ratio of 24.95 and a beta of 1.51.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, topping analysts’ consensus estimates of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. Research analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

About Credit Acceptance

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.