Entropy Technologies LP Buys Shares of 500 Credit Acceptance Co. (NASDAQ:CACC)

Entropy Technologies LP purchased a new position in shares of Credit Acceptance Co. (NASDAQ:CACC) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 500 shares of the credit services provider’s stock, valued at approximately $235,000.

Other large investors also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new stake in Credit Acceptance during the 4th quarter worth about $28,000. Quest Partners LLC increased its position in shares of Credit Acceptance by 11,900.0% during the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock valued at $53,000 after buying an additional 119 shares during the period. nVerses Capital LLC lifted its holdings in shares of Credit Acceptance by 200.0% in the third quarter. nVerses Capital LLC now owns 300 shares of the credit services provider’s stock worth $133,000 after buying an additional 200 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Credit Acceptance in the fourth quarter valued at approximately $142,000. Finally, Point72 Hong Kong Ltd purchased a new position in Credit Acceptance during the third quarter valued at approximately $177,000. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Insiders Place Their Bets

In other news, COO Jonathan Lum sold 552 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total transaction of $270,424.80. Following the transaction, the chief operating officer now directly owns 31,493 shares in the company, valued at approximately $15,428,420.70. This represents a 1.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.30% of the company’s stock.

Credit Acceptance Trading Up 1.8 %

Shares of Credit Acceptance stock opened at $511.90 on Friday. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $614.96. The firm has a market cap of $6.20 billion, a PE ratio of 25.78 and a beta of 1.47. The company has a 50 day simple moving average of $486.86 and a two-hundred day simple moving average of $470.09.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.60%. Analysts expect that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. TD Cowen lowered their target price on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. Stephens increased their price objective on Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st.

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.