State of New Jersey Common Pension Fund D Has $1.99 Million Stake in Credit Acceptance Corporation $CACC

State of New Jersey Common Pension Fund D trimmed its position in shares of Credit Acceptance Corporation (NASDAQ:CACC) by 0.9% during the second quarter, Holdings Channel.com reports. The firm owned 3,912 shares of the credit services provider’s stock after selling 34 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Credit Acceptance were worth $1,993,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Sierra Ocean LLC bought a new stake in Credit Acceptance during the first quarter worth $26,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Credit Acceptance during the first quarter worth $44,000. CWM LLC grew its holdings in Credit Acceptance by 206.3% during the first quarter. CWM LLC now owns 193 shares of the credit services provider’s stock worth $100,000 after buying an additional 130 shares in the last quarter. US Bancorp DE grew its holdings in Credit Acceptance by 35.8% during the first quarter. US Bancorp DE now owns 243 shares of the credit services provider’s stock worth $125,000 after buying an additional 64 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Credit Acceptance during the first quarter worth $128,000. 81.71% of the stock is owned by institutional investors and hedge funds.

Credit Acceptance Stock Down 1.5%

Shares of NASDAQ:CACC opened at $452.38 on Friday. The company has a market capitalization of $5.08 billion, a PE ratio of 13.04 and a beta of 1.19. The company has a debt-to-equity ratio of 4.16, a current ratio of 22.03 and a quick ratio of 22.03. The business has a fifty day moving average price of $496.53 and a two-hundred day moving average price of $494.64. Credit Acceptance Corporation has a 1 year low of $414.15 and a 1 year high of $560.00.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Thursday, October 30th. The credit services provider reported $10.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.61 by $0.67. The firm had revenue of $582.40 million during the quarter, compared to the consensus estimate of $592.19 million. Credit Acceptance had a return on equity of 27.06% and a net margin of 18.69%.The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.25 EPS. Analysts forecast that Credit Acceptance Corporation will post 53.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Credit Acceptance in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Credit Acceptance has an average rating of “Reduce” and an average price target of $440.00.

Insider Transactions at Credit Acceptance

In other news, CEO Kenneth Booth sold 4,000 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $506.59, for a total transaction of $2,026,360.00. Following the completion of the transaction, the chief executive officer owned 68,116 shares in the company, valued at approximately $34,506,884.44. This represents a 5.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jonathan Lum sold 6,000 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $512.61, for a total value of $3,075,660.00. Following the transaction, the chief operating officer owned 31,493 shares of the company’s stock, valued at $16,143,626.73. The trade was a 16.00% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 13,697 shares of company stock worth $6,981,255. 6.60% of the stock is owned by company 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.