Manhattan West Asset Management LLC Has $433,000 Position in Credit Acceptance Co. (NASDAQ:CACC)

Manhattan West Asset Management LLC trimmed its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 15.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 923 shares of the credit services provider’s stock after selling 168 shares during the quarter. Manhattan West Asset Management LLC’s holdings in Credit Acceptance were worth $433,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CACC. Eagle Bay Advisors LLC acquired a new position in shares of Credit Acceptance during the fourth quarter worth $28,000. First Horizon Advisors Inc. acquired a new position in Credit Acceptance in the 4th quarter worth about $34,000. TD Private Client Wealth LLC bought a new position in Credit Acceptance in the fourth quarter valued at about $37,000. Farther Finance Advisors LLC acquired a new stake in shares of Credit Acceptance during the fourth quarter valued at about $38,000. Finally, US Bancorp DE grew its holdings in shares of Credit Acceptance by 50.4% during the fourth quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock worth $84,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 81.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CACC shares. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Stephens lifted their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st.

Insider Activity at Credit Acceptance

In other news, insider Douglas W. Busk sold 3,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total value of $1,547,910.00. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at $1,605,698.64. The trade was a 49.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas J. Elliott sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total value of $150,600.00. Following the sale, the insider now directly owns 19,385 shares of the company’s stock, valued at $9,731,270. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Credit Acceptance Price Performance

Shares of CACC opened at $493.19 on Friday. The business has a 50-day moving average of $496.12 and a 200-day moving average of $479.04. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 24.83 and a beta of 1.27. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $614.96.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. As a group, equities research analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Credit Acceptance Company 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.