Jefferies Financial Group Inc. Invests $206,000 in Credit Acceptance Co. (NASDAQ:CACC)

Jefferies Financial Group Inc. bought a new stake in shares of Credit Acceptance Co. (NASDAQ:CACC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 439 shares of the credit services provider’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CACC. Vanguard Group Inc. lifted its holdings in Credit Acceptance by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 486,828 shares of the credit services provider’s stock worth $228,546,000 after buying an additional 5,134 shares during the period. Beck Mack & Oliver LLC lifted its stake in shares of Credit Acceptance by 1.6% in the 4th quarter. Beck Mack & Oliver LLC now owns 391,238 shares of the credit services provider’s stock valued at $183,671,000 after purchasing an additional 6,214 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Credit Acceptance by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 183,203 shares of the credit services provider’s stock valued at $86,004,000 after purchasing an additional 1,318 shares in the last quarter. MIG Capital LLC grew its stake in Credit Acceptance by 8.6% in the fourth quarter. MIG Capital LLC now owns 126,467 shares of the credit services provider’s stock worth $59,371,000 after purchasing an additional 9,976 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Credit Acceptance by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 95,854 shares of the credit services provider’s stock worth $45,000,000 after purchasing an additional 1,803 shares during the period. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on CACC shares. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Stephens boosted their price objective on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st.

Credit Acceptance Stock Up 0.1%

CACC stock opened at $502.17 on Monday. The business has a 50 day moving average of $489.67 and a 200 day moving average of $484.14. The firm has a market cap of $5.83 billion, a PE ratio of 25.29 and a beta of 1.23. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Wednesday, April 30th. The credit services provider reported $9.35 EPS for the quarter, missing analysts’ consensus estimates of $10.31 by ($0.96). The company had revenue of $571.10 million during the quarter, compared to analysts’ expectations of $570.25 million. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $9.28 earnings per share. On average, research analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Insider Activity at Credit Acceptance

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

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.