Credit Acceptance Corp. (NASDAQ:CACC) Shares Acquired by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL increased its stake in Credit Acceptance Corp. (NASDAQ:CACC) by 29.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,100 shares of the credit services provider’s stock after acquiring an additional 700 shares during the period. Virginia Retirement Systems ET AL’s holdings in Credit Acceptance were worth $1,500,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wasatch Advisors Inc. raised its stake in shares of Credit Acceptance by 1.9% in the first quarter. Wasatch Advisors Inc. now owns 256,285 shares of the credit services provider’s stock valued at $115,823,000 after acquiring an additional 4,789 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Credit Acceptance by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 138,652 shares of the credit services provider’s stock valued at $52,931,000 after acquiring an additional 9,406 shares in the last quarter. Norges Bank acquired a new stake in shares of Credit Acceptance in the fourth quarter valued at $42,095,000. Deutsche Bank AG raised its stake in shares of Credit Acceptance by 684.6% in the fourth quarter. Deutsche Bank AG now owns 29,038 shares of the credit services provider’s stock valued at $11,084,000 after acquiring an additional 25,337 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Credit Acceptance by 2.9% in the first quarter. Swiss National Bank now owns 21,077 shares of the credit services provider’s stock valued at $9,525,000 after acquiring an additional 600 shares in the last quarter. Institutional investors and hedge funds own 61.67% of the company’s stock.

Credit Acceptance stock remained flat at $$472.81 during midday trading on Friday. The company’s stock had a trading volume of 92,466 shares, compared to its average volume of 93,709. Credit Acceptance Corp. has a one year low of $356.12 and a one year high of $509.99. The company has a current ratio of 28.16, a quick ratio of 28.16 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $8.89 billion, a PE ratio of 16.65, a P/E/G ratio of 1.37 and a beta of 0.74. The firm has a fifty day moving average price of $481.61.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $8.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $8.52 by $0.08. Credit Acceptance had a return on equity of 30.02% and a net margin of 45.15%. The company had revenue of $370.60 million for the quarter, compared to analysts’ expectations of $363.38 million. During the same period last year, the firm earned $6.95 earnings per share. Credit Acceptance’s quarterly revenue was up 17.5% on a year-over-year basis. As a group, sell-side analysts predict that Credit Acceptance Corp. will post 34.62 earnings per share for the current year.

Several analysts have recently issued reports on the company. BidaskClub cut Credit Acceptance from a “hold” rating to a “sell” rating in a research note on Wednesday. Credit Suisse Group set a $380.00 price objective on Credit Acceptance and gave the company an “underperform” rating in a research note on Wednesday, July 31st. Stephens raised their price target on Credit Acceptance from $381.00 to $495.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. BMO Capital Markets raised their price target on Credit Acceptance to $484.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Finally, BTIG Research restated a “sell” rating and issued a $340.00 price target on shares of Credit Acceptance in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Credit Acceptance has a consensus rating of “Hold” and a consensus target price of $441.00.

Credit Acceptance Company Profile

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

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

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