Hyperion Capital Advisors LP Purchases Shares of 7,150 Credit Acceptance Corporation $CACC

Hyperion Capital Advisors LP purchased a new position in Credit Acceptance Corporation (NASDAQ:CACCFree Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,150 shares of the credit services provider’s stock, valued at approximately $4,553,000. Credit Acceptance accounts for 2.1% of Hyperion Capital Advisors LP’s investment portfolio, making the stock its 16th biggest position. Hyperion Capital Advisors LP owned approximately 0.07% of Credit Acceptance as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Credit Acceptance during the 2nd quarter valued at $408,849,000. Boston Partners increased its stake in Credit Acceptance by 3.4% in the 4th quarter. Boston Partners now owns 456,253 shares of the credit services provider’s stock worth $202,373,000 after buying an additional 14,877 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Credit Acceptance by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 230,715 shares of the credit services provider’s stock valued at $97,701,000 after acquiring an additional 6,843 shares during the period. Smead Capital Management Inc. raised its holdings in Credit Acceptance by 17.0% during the second quarter. Smead Capital Management Inc. now owns 216,811 shares of the credit services provider’s stock valued at $110,450,000 after acquiring an additional 31,438 shares during the period. Finally, Smith Thomas W bought a new stake in Credit Acceptance during the fourth quarter valued at about $42,083,000. 81.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Zacks Research lowered Credit Acceptance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. TD Cowen lifted their target price on Credit Acceptance from $575.00 to $600.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings raised Credit Acceptance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $570.00.

Read Our Latest Stock Analysis on Credit Acceptance

Credit Acceptance Stock Up 0.3%

CACC opened at $603.07 on Tuesday. The firm has a 50-day simple moving average of $600.52 and a two-hundred day simple moving average of $536.75. Credit Acceptance Corporation has a 52 week low of $401.90 and a 52 week high of $668.86. The company has a market capitalization of $6.31 billion, a PE ratio of 13.26 and a beta of 1.37. The company has a quick ratio of 14.89, a current ratio of 14.89 and a debt-to-equity ratio of 3.84.

Credit Acceptance (NASDAQ:CACCGet Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The credit services provider reported $12.12 earnings per share for the quarter, missing analysts’ consensus estimates of $12.20 by ($0.08). Credit Acceptance had a net margin of 21.54% and a return on equity of 31.67%. The firm had revenue of $415.00 million for the quarter, compared to analysts’ expectations of $588.07 million. During the same quarter in the previous year, the business earned $10.05 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. Analysts forecast that Credit Acceptance Corporation will post 47.8 earnings per share for the current fiscal year.

Insider Activity at Credit Acceptance

In other news, CFO Jay D. Martin sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $601.04, for a total transaction of $1,803,120.00. Following the sale, the chief financial officer directly owned 25,963 shares of the company’s stock, valued at $15,604,801.52. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Lum sold 6,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $600.00, for a total value of $3,600,000.00. Following the transaction, the chief operating officer owned 31,609 shares of the company’s stock, valued at $18,965,400. This represents a 15.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 44,289 shares of company stock valued at $27,525,241 in the last 90 days. 6.10% of the stock is currently owned by insiders.

Credit Acceptance Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Credit Acceptance (NASDAQ:CACC)

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