StockNews.com Downgrades Credit Acceptance (NASDAQ:CACC) to Hold

StockNews.com downgraded shares of Credit Acceptance (NASDAQ:CACC) from a buy rating to a hold rating in a research report report published on Monday morning.

Separately, TD Cowen lowered their price target on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a report on Friday, November 1st.

Credit Acceptance Trading Down 0.8 %

Shares of NASDAQ:CACC opened at $454.50 on Monday. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. Credit Acceptance has a 1 year low of $406.53 and a 1 year high of $616.66. The company has a market cap of $5.50 billion, a P/E ratio of 30.52 and a beta of 1.42. The stock’s fifty day moving average price is $450.56 and its 200-day moving average price is $486.38.

Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, beating 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 business had revenue of $550.30 million for the quarter, compared to analysts’ expectations of $548.13 million. During the same quarter in the prior year, the business earned $10.70 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. Sell-side analysts expect that Credit Acceptance will post 37.14 earnings per share for the current year.

Insider Activity

In other Credit Acceptance news, insider Thomas W. Smith sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $451.01, for a total transaction of $541,212.00. Following the completion of the sale, the insider now directly owns 74,450 shares of the company’s stock, valued at approximately $33,577,694.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CACC. nVerses Capital LLC purchased a new stake in Credit Acceptance in the 2nd quarter worth approximately $51,000. Quest Partners LLC boosted its position in shares of 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 purchasing an additional 119 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Credit Acceptance in the first quarter worth $156,000. MQS Management LLC bought a new stake in shares of Credit Acceptance during the 1st quarter valued at $242,000. Finally, Headlands Technologies LLC lifted its stake in shares of Credit Acceptance by 24,850.0% during the 2nd quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock valued at $257,000 after buying an additional 497 shares in the last quarter. Institutional investors own 81.71% of the company’s stock.

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.