Credit Acceptance Corporation $CACC Shares Purchased by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Credit Acceptance Corporation (NASDAQ:CACC) by 764.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,879 shares of the credit services provider’s stock after purchasing an additional 180,304 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 1.85% of Credit Acceptance worth $91,652,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allianz Asset Management GmbH boosted its position in shares of Credit Acceptance by 21.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 29,095 shares of the credit services provider’s stock worth $13,585,000 after acquiring an additional 5,107 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Credit Acceptance by 430.3% during the 3rd quarter. SG Americas Securities LLC now owns 2,418 shares of the credit services provider’s stock worth $1,129,000 after acquiring an additional 1,962 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of Credit Acceptance during the 3rd quarter worth about $697,000. Envestnet Asset Management Inc. boosted its position in shares of Credit Acceptance by 8.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 34,990 shares of the credit services provider’s stock worth $16,338,000 after acquiring an additional 2,583 shares in the last quarter. Finally, RV Capital AG boosted its position in shares of Credit Acceptance by 1.2% during the 3rd quarter. RV Capital AG now owns 130,431 shares of the credit services provider’s stock worth $60,902,000 after acquiring an additional 1,502 shares in the last quarter. 81.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Wendy A. Rummler sold 4,062 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $525.67, for a total value of $2,135,271.54. Following the sale, the insider owned 19,547 shares in the company, valued at $10,275,271.49. This represents a 17.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Booth sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $508.00, for a total value of $1,016,000.00. Following the completion of the sale, the director owned 22,832 shares in the company, valued at approximately $11,598,656. This represents a 8.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,638 shares of company stock worth $9,536,280 in the last quarter. Company insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CACC has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Credit Acceptance in a report on Monday. TD Cowen boosted their target price on Credit Acceptance from $460.00 to $470.00 and gave the company a “hold” rating in a report on Friday, January 30th. Zacks Research raised Credit Acceptance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Stephens boosted their target price on Credit Acceptance from $450.00 to $540.00 and gave the company an “equal weight” rating in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Credit Acceptance has a consensus rating of “Moderate Buy” and an average target price of $505.00.

Credit Acceptance Stock Performance

Shares of CACC stock opened at $521.23 on Wednesday. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 14.28 and a beta of 1.32. The stock has a 50 day simple moving average of $473.01 and a 200-day simple moving average of $467.64. Credit Acceptance Corporation has a 12-month low of $401.90 and a 12-month high of $549.75. The company has a current ratio of 16.91, a quick ratio of 16.91 and a debt-to-equity ratio of 4.10.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Thursday, January 29th. The credit services provider reported $11.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.30 by $1.05. The business had revenue of $408.20 million during the quarter, compared to the consensus estimate of $582.63 million. Credit Acceptance had a return on equity of 28.86% and a net margin of 18.29%.The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $10.17 EPS. On average, equities analysts forecast that Credit Acceptance Corporation will post 47 EPS for the current year.

Credit Acceptance Profile

Credit Acceptance Corporation, founded in 1972 and headquartered in Southfield, Michigan, is a specialty finance company focused on the indirect automotive lending market. The company partners with independent and franchised auto dealers to facilitate purchase financing for consumers who may not qualify for traditional prime auto loans. By purchasing retail installment contracts originated by these dealers, Credit Acceptance provides capital and credit insurance to support vehicle sales, enabling dealers to broaden their customer base and reduce credit risk.

Through its proprietary underwriting platform and risk management strategies, Credit Acceptance evaluates borrower applications, structures credit plans, and retains servicing rights on the acquired contracts.