Hanson & Doremus Investment Management purchased a new stake in shares of Credit Acceptance Corp. (NASDAQ:CACC) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 54 shares of the credit services provider’s stock, valued at approximately $26,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. First Hawaiian Bank raised its stake in shares of Credit Acceptance by 100.7% in the second quarter. First Hawaiian Bank now owns 1,407 shares of the credit services provider’s stock valued at $681,000 after acquiring an additional 706 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of Credit Acceptance by 7.6% in the second quarter. Campbell & CO Investment Adviser LLC now owns 624 shares of the credit services provider’s stock valued at $302,000 after acquiring an additional 44 shares during the last quarter. WINTON GROUP Ltd raised its stake in shares of Credit Acceptance by 17.2% in the second quarter. WINTON GROUP Ltd now owns 2,623 shares of the credit services provider’s stock valued at $1,269,000 after acquiring an additional 384 shares during the last quarter. Private Advisors LLC raised its stake in shares of Credit Acceptance by 7.6% in the first quarter. Private Advisors LLC now owns 2,405 shares of the credit services provider’s stock valued at $1,087,000 after acquiring an additional 170 shares during the last quarter. Finally, Bank of Hawaii raised its stake in shares of Credit Acceptance by 4.5% in the first quarter. Bank of Hawaii now owns 810 shares of the credit services provider’s stock valued at $366,000 after acquiring an additional 35 shares during the last quarter. 61.70% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently issued reports on CACC. Stephens reiterated a “hold” rating and issued a $110.00 target price on shares of Twilio in a research note on Tuesday, April 30th. Zacks Investment Research cut shares of Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, BidaskClub upgraded shares of Winmark from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The company has an average rating of “Hold” and an average target price of $407.67.

Shares of Credit Acceptance stock opened at $494.78 on Monday. The company’s fifty day simple moving average is $485.27. The company has a market cap of $9.26 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.90 and a beta of 0.77. Credit Acceptance Corp. has a 52 week low of $356.12 and a 52 week high of $509.99. The company has a quick ratio of 31.27, a current ratio of 31.27 and a debt-to-equity ratio of 2.07.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Monday, April 29th. The credit services provider reported $8.08 EPS for the quarter, beating the consensus estimate of $7.93 by $0.15. The company had revenue of $342.80 million during the quarter, compared to analysts’ expectations of $350.35 million. Credit Acceptance had a net margin of 46.00% and a return on equity of 30.17%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.11 EPS. On average, research analysts forecast that Credit Acceptance Corp. will post 34.22 earnings per share for the current fiscal year.

Credit Acceptance Profile

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

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Institutional Ownership by Quarter for Credit Acceptance (NASDAQ:CACC)

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