Credit Acceptance Co. (NASDAQ:CACC) is Kize Capital LP’s Largest Position

Kize Capital LP boosted its position in Credit Acceptance Co. (NASDAQ:CACC) by 23.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 84,233 shares of the credit services provider’s stock after purchasing an additional 16,156 shares during the quarter. Credit Acceptance accounts for about 35.6% of Kize Capital LP’s holdings, making the stock its largest holding. Kize Capital LP’s holdings in Credit Acceptance were worth $39,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Wealthfront Advisers LLC purchased a new stake in Credit Acceptance in the fourth quarter valued at approximately $18,146,000. Envestnet Asset Management Inc. raised its position in shares of Credit Acceptance by 805.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 27,450 shares of the credit services provider’s stock valued at $12,887,000 after buying an additional 24,417 shares in the last quarter. Barclays PLC raised its position in shares of Credit Acceptance by 277.1% during the 4th quarter. Barclays PLC now owns 19,763 shares of the credit services provider’s stock valued at $9,277,000 after buying an additional 14,522 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Credit Acceptance by 6,314.6% during the 4th quarter. National Bank of Canada FI now owns 12,701 shares of the credit services provider’s stock worth $5,963,000 after acquiring an additional 12,503 shares during the last quarter. Finally, MIG Capital LLC grew its position 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 acquiring an additional 9,976 shares in the last quarter. 81.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Credit Acceptance news, insider Nicholas J. Elliott sold 300 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $9,731,270. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas W. Busk sold 3,000 shares of the business’s stock in a transaction on 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 directly owns 3,112 shares in the company, valued at approximately $1,605,698.64. The trade was a 49.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.

Credit Acceptance Stock Up 0.8 %

Shares of NASDAQ:CACC opened at $497.31 on Tuesday. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $614.96. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63. The stock’s 50-day moving average price is $495.68 and its 200-day moving average price is $479.65. The stock has a market capitalization of $5.98 billion, a P/E ratio of 25.04 and a beta of 1.27.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, topping 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%. On average, equities analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

CACC has been the topic of a number of research reports. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Stephens upped their target price on 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 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.