Aster Capital Management DIFC Ltd Increases Position in Credit Acceptance Co. (NASDAQ:CACC)

Aster Capital Management DIFC Ltd lifted its holdings in Credit Acceptance Co. (NASDAQ:CACC) by 245.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 256 shares of the credit services provider’s stock after buying an additional 182 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Credit Acceptance were worth $120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CACC. Park Avenue Securities LLC purchased a new position in shares of Credit Acceptance during the fourth quarter worth approximately $680,000. Geode Capital Management LLC grew its stake in Credit Acceptance by 2.3% in the third quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider’s stock worth $49,401,000 after purchasing an additional 2,522 shares in the last quarter. Corient Private Wealth LLC increased its holdings in Credit Acceptance by 7.2% during the 4th quarter. Corient Private Wealth LLC now owns 1,030 shares of the credit services provider’s stock worth $484,000 after purchasing an additional 69 shares during the period. Wealthfront Advisers LLC purchased a new stake in shares of Credit Acceptance in the 4th quarter worth $18,146,000. Finally, HighTower Advisors LLC grew its position in shares of Credit Acceptance by 67.6% during the 4th quarter. HighTower Advisors LLC now owns 997 shares of the credit services provider’s stock worth $468,000 after buying an additional 402 shares in the last quarter. 81.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CACC has been the subject of several recent research reports. Stephens lifted 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. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

Insider Transactions at Credit Acceptance

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

Credit Acceptance Trading Up 0.7 %

Shares of NASDAQ:CACC opened at $468.28 on Wednesday. The company has a market capitalization of $5.63 billion, a PE ratio of 23.58 and a beta of 1.27. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $614.96. The business’s fifty day simple moving average is $497.31 and its 200-day simple moving average is $477.84.

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

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.