Hyperion Capital Advisors LP Sells 738 Shares of Credit Acceptance Co. (NASDAQ:CACC)

Hyperion Capital Advisors LP decreased its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 2.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 27,501 shares of the credit services provider’s stock after selling 738 shares during the period. Credit Acceptance accounts for approximately 5.7% of Hyperion Capital Advisors LP’s portfolio, making the stock its 6th biggest position. Hyperion Capital Advisors LP’s holdings in Credit Acceptance were worth $12,194,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CACC. CANADA LIFE ASSURANCE Co grew its position in shares of Credit Acceptance by 3.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,161 shares of the credit services provider’s stock worth $1,191,000 after buying an additional 72 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Credit Acceptance by 6.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,261 shares of the credit services provider’s stock valued at $1,799,000 after purchasing an additional 189 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Credit Acceptance in the first quarter valued at approximately $662,000. Tidal Investments LLC acquired a new position in Credit Acceptance in the first quarter valued at approximately $1,610,000. Finally, Comerica Bank acquired a new position in Credit Acceptance in the first quarter valued at approximately $365,000. 81.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Stephens began coverage on Credit Acceptance in a report on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price target for the company. TD Cowen reduced their price objective on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a research note on Friday, November 1st. Finally, StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, insider Thomas W. Smith sold 1,200 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $451.01, for a total value of $541,212.00. Following the sale, the insider now directly owns 74,450 shares of the company’s stock, valued at approximately $33,577,694.50. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.30% of the stock is currently owned by company insiders.

Credit Acceptance Price Performance

Credit Acceptance stock opened at $494.24 on Thursday. Credit Acceptance Co. has a 12 month low of $409.22 and a 12 month high of $616.66. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. The business has a 50 day simple moving average of $454.37 and a 200-day simple moving average of $480.33. The stock has a market capitalization of $5.99 billion, a PE ratio of 33.19 and a beta of 1.42.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, topping the consensus estimate of $7.88 by $0.91. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The company had revenue of $550.30 million for the quarter, compared to analyst estimates of $548.13 million. During the same period in the previous year, the firm earned $10.70 EPS. The business’s revenue was up 15.0% on a year-over-year basis. Equities analysts predict that Credit Acceptance Co. will post 37.14 earnings per share for the current 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.