AlphaQuest LLC Acquires 911 Shares of Credit Acceptance Co. (NASDAQ:CACC)

AlphaQuest LLC grew its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 759.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,031 shares of the credit services provider’s stock after acquiring an additional 911 shares during the period. AlphaQuest LLC’s holdings in Credit Acceptance were worth $484,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC bought a new position in Credit Acceptance in the fourth quarter worth approximately $28,000. First Horizon Advisors Inc. bought a new stake in shares of Credit Acceptance during the 4th quarter valued at $34,000. Quest Partners LLC raised its position in shares of Credit Acceptance by 11,900.0% during the 3rd 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 during the period. US Bancorp DE raised its position in shares of Credit Acceptance by 50.4% during the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock valued at $84,000 after purchasing an additional 60 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Credit Acceptance during the 4th quarter valued at $142,000. 81.71% of the stock is currently owned by institutional investors.

Insider Activity at Credit Acceptance

In related news, COO Jonathan Lum sold 552 shares of the firm’s 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 completion of the transaction, the chief operating officer now directly owns 31,493 shares of the company’s stock, valued at approximately $15,428,420.70. This trade represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CACC has been the topic of several recent analyst reports. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Stephens raised their price objective on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st.

Credit Acceptance Stock Performance

CACC opened at $474.55 on Thursday. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 23.89 and a beta of 1.51. The company has a fifty day moving average of $493.01 and a 200 day moving average of $471.73. 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 debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33.

Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, beating the consensus estimate of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. As a group, sell-side analysts forecast that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal 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.