First Horizon Advisors Inc. Purchases New Holdings in Credit Acceptance Co. (NASDAQ:CACC)

First Horizon Advisors Inc. purchased a new stake in shares of Credit Acceptance Co. (NASDAQ:CACC) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 73 shares of the credit services provider’s stock, valued at approximately $34,000.

A number of other large investors also recently bought and sold shares of CACC. Eagle Bay Advisors LLC purchased a new position in Credit Acceptance in the fourth quarter worth about $28,000. Quest Partners LLC raised its holdings in Credit Acceptance by 11,900.0% in 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 during the last quarter. SG Americas Securities LLC purchased a new position in Credit Acceptance in the fourth quarter worth about $142,000. Point72 Hong Kong Ltd purchased a new position in Credit Acceptance in the third quarter worth about $177,000. Finally, Principal Securities Inc. purchased a new position in Credit Acceptance in the fourth quarter worth about $197,000. 81.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Credit Acceptance

In related news, COO Jonathan Lum sold 552 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total transaction of $270,424.80. Following the transaction, the chief operating officer now owns 31,493 shares in the company, valued at $15,428,420.70. This represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CACC shares. TD Cowen decreased their target price on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a report on Friday, November 1st. Stephens lifted their target price on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

Credit Acceptance Stock Down 0.9 %

Shares of Credit Acceptance stock opened at $476.38 on Friday. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 23.99 and a beta of 1.47. The company’s 50 day moving average is $490.50 and its 200 day moving average is $470.38. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63.

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

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.