Credit Acceptance (NASDAQ:CACC) Given New $500.00 Price Target at Stephens

Credit Acceptance (NASDAQ:CACC) had its price objective increased by Stephens from $452.00 to $500.00 in a report issued on Friday morning,Benzinga reports. They currently have an equal weight rating on the credit services provider’s stock.

Several other analysts also recently commented on the stock. TD Cowen dropped their price objective on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a report on Friday, November 1st. StockNews.com downgraded Credit Acceptance from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd.

Credit Acceptance Stock Down 1.2 %

CACC stock opened at $507.77 on Friday. The stock has a market capitalization of $6.15 billion, a PE ratio of 34.10 and a beta of 1.46. Credit Acceptance has a 52 week low of $409.22 and a 52 week high of $616.66. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79. The firm has a 50 day moving average of $483.00 and a 200 day moving average of $474.63.

Credit Acceptance (NASDAQ:CACC) last announced 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 return on equity of 29.18% and a net margin of 9.08%. Sell-side analysts forecast that Credit Acceptance will post 36.53 earnings per share for the current year.

Insider Activity

In related news, COO Jonathan Lum sold 552 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 31,493 shares of the company’s stock, valued at approximately $15,428,420.70. This represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Eagle Bay Advisors LLC purchased a new position in shares of Credit Acceptance during the 4th quarter valued at approximately $28,000. Quest Partners LLC lifted its holdings in Credit Acceptance by 11,900.0% during the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock valued at $53,000 after purchasing an additional 119 shares in the last quarter. nVerses Capital LLC grew its position in shares of Credit Acceptance by 200.0% in the third quarter. nVerses Capital LLC now owns 300 shares of the credit services provider’s stock valued at $133,000 after purchasing an additional 200 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Credit Acceptance during the fourth quarter worth about $142,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Credit Acceptance during the 3rd quarter worth about $177,000. Institutional investors and hedge funds 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.