TD Private Client Wealth LLC Makes New Investment in Credit Acceptance Co. (NASDAQ:CACC)

TD Private Client Wealth LLC acquired a new stake in shares of Credit Acceptance Co. (NASDAQ:CACC) in the fourth quarter, Holdings Channel.com reports. The firm acquired 79 shares of the credit services provider’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Park Avenue Securities LLC purchased a new position in Credit Acceptance during the fourth quarter valued at approximately $680,000. Geode Capital Management LLC lifted its stake in shares of Credit Acceptance by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider’s stock valued at $49,401,000 after purchasing an additional 2,522 shares during the period. Wealthfront Advisers LLC purchased a new stake in Credit Acceptance during the fourth quarter worth $18,146,000. Barclays PLC grew its position in Credit Acceptance by 85.8% during the third quarter. Barclays PLC now owns 5,241 shares of the credit services provider’s stock valued at $2,324,000 after buying an additional 2,420 shares during the period. Finally, AlphaQuest LLC increased its holdings in Credit Acceptance by 759.2% in the fourth quarter. AlphaQuest LLC now owns 1,031 shares of the credit services provider’s stock valued at $484,000 after buying an additional 911 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Insider Buying and Selling

In related news, insider Nicholas J. Elliott sold 300 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $502.00, for a total transaction of $150,600.00. Following the transaction, the insider now directly owns 19,385 shares in the company, valued at approximately $9,731,270. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.30% of the stock is owned by company insiders.

Credit Acceptance Stock Down 0.8 %

Shares of NASDAQ CACC opened at $510.41 on Thursday. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 25.70 and a beta of 1.51. The company’s 50-day simple moving average is $499.76 and its 200-day simple moving average is $473.92. 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 Co. has a 52-week low of $409.22 and a 52-week high of $614.96.

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 the consensus estimate of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. Equities analysts predict that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.