Giverny Capital Inc. Has $15.54 Million Holdings in Credit Acceptance Corporation $CACC

by · The Cerbat Gem

Giverny Capital Inc. boosted its holdings in shares of Credit Acceptance Corporation (NASDAQ:CACC – Free Report) by 2.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,501 shares of the credit services provider’s stock after buying an additional 650 shares during the quarter. Giverny Capital Inc. owned about 0.27% of Credit Acceptance worth $15,538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Credit Acceptance in the 1st quarter worth approximately $44,000. US Bancorp DE lifted its stake in shares of Credit Acceptance by 35.8% in 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 during the last quarter. Headlands Technologies LLC acquired a new position in Credit Acceptance in the 1st quarter valued at $128,000. Harvest Fund Management Co. Ltd acquired a new position in Credit Acceptance in the 1st quarter valued at $147,000. Finally, Jump Financial LLC bought a new position in Credit Acceptance in the 1st quarter worth $213,000. Institutional investors and hedge funds own 81.71% of the company’s stock.

Insider Transactions at Credit Acceptance

In other Credit Acceptance news, CEO Kenneth Booth sold 4,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were 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 $34,506,884.44. This trade represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.60% of the stock is owned by company insiders.

Credit Acceptance Price Performance

Shares of CACC stock opened at $461.80 on Friday. Credit Acceptance Corporation has a 12 month low of $401.90 and a 12 month high of $560.00. The company has a market capitalization of $5.09 billion, a P/E ratio of 13.31 and a beta of 1.16. The stock has a 50 day moving average of $465.52 and a two-hundred day moving average of $488.10. The company has a current ratio of 22.03, a quick ratio of 22.03 and a debt-to-equity ratio of 4.16.

Credit Acceptance (NASDAQ:CACC – Get Free Report) last issued its earnings results on Thursday, October 30th. The credit services provider reported $10.28 EPS for the quarter, beating analysts’ consensus estimates of $9.61 by $0.67. The business had revenue of $405.10 million during the quarter, compared to analyst estimates of $592.19 million. Credit Acceptance had a return on equity of 27.06% and a net margin of 18.69%.Credit Acceptance’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $9.25 earnings per share. As a group, equities analysts expect that Credit Acceptance Corporation will post 53.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CACC shares. Cowen restated a “sell” rating on shares of Credit Acceptance in a report on Friday, October 31st. TD Cowen decreased their target price on Credit Acceptance from $450.00 to $430.00 and set a “sell” rating for the company in a research note on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Credit Acceptance in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $465.00.

Read Our Latest Stock Analysis on CACC

Credit Acceptance Profile

(Free Report)

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.

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