EverSource Wealth Advisors LLC Reduces Position in Credit Acceptance Co. (NASDAQ:CACC)

EverSource Wealth Advisors LLC trimmed its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC) by 11.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,830 shares of the credit services provider’s stock after selling 354 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Credit Acceptance were worth $1,329,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smead Capital Management Inc. increased its position in shares of Credit Acceptance by 3.5% during the third quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider’s stock worth $92,155,000 after acquiring an additional 7,012 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in shares of Credit Acceptance during the fourth quarter worth about $680,000. Geode Capital Management LLC increased its holdings in Credit Acceptance by 2.3% in the third quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider’s stock valued at $49,401,000 after buying an additional 2,522 shares during the last quarter. Barclays PLC increased its holdings in Credit Acceptance by 85.8% in the third quarter. Barclays PLC now owns 5,241 shares of the credit services provider’s stock valued at $2,324,000 after buying an additional 2,420 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in Credit Acceptance in the fourth quarter valued at about $235,000. 81.71% of the stock is owned by hedge funds and other institutional investors.

Credit Acceptance Stock Up 0.7 %

NASDAQ:CACC opened at $474.55 on Thursday. The firm has a market capitalization of $5.71 billion, a PE ratio of 23.89 and a beta of 1.51. The stock has a 50 day moving average of $493.01 and a 200-day moving average of $471.73. Credit Acceptance Co. has a 52 week low of $409.22 and a 52 week high of $614.96. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63.

Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, beating the consensus estimate of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. Analysts predict that Credit Acceptance Co. will post 53.24 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Stephens boosted their price objective on Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a report on Friday, January 31st.

Insider Activity

In other news, COO Jonathan Lum sold 552 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was 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 represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.30% of the company’s stock.

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.