Credit Acceptance Corp. (CACC) : Seven Bridges Advisors scooped up 819 additional shares in Credit Acceptance Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 25, 2016. The investment management firm now holds a total of 15,914 shares of Credit Acceptance Corp. which is valued at $2,965,256.Credit Acceptance Corp. makes up approximately 2.44% of Seven Bridges Advisors’s portfolio.
Other Hedge Funds, Including , Parkwood reduced its stake in CACC by selling 348 shares or 14.76% in the most recent quarter. The Hedge Fund company now holds 2,009 shares of CACC which is valued at $389,083. Credit Acceptance Corp. makes up approx 0.06% of Parkwood’s portfolio. New York State Teachers Retirement System sold out all of its stake in CACC during the most recent quarter. The investment firm sold 300 shares of CACC which is valued $58,101. Highland Capital Management added CACC to its portfolio by purchasing 2,149 company shares during the most recent quarter which is valued at $419,571. Credit Acceptance Corp. makes up approx 0.04% of Highland Capital Management’s portfolio. Id Management As sold out all of its stake in CACC during the most recent quarter. The investment firm sold 700 shares of CACC which is valued $137,557.
Credit Acceptance Corp. closed down -4.25 points or -2.30% at $180.67 with 4,68,805 shares getting traded on Friday. Post opening the session at $184.88, the shares hit an intraday low of $176.015 and an intraday high of $187.4933 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
On the company’s financial health, Credit Acceptance Corp. reported $4.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.58 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $3.80. The company had revenue of $238.50 million for the quarter, compared to analysts expectations of $232.37 million. The company’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.60 EPS.
Many Wall Street Analysts have commented on Credit Acceptance Corp.. Credit Acceptance Corp. was Downgraded by Credit Suisse to ” Underperform” on Jul 27, 2016. Credit Acceptance Corp. was Downgraded by Macquarie to ” Underperform” on May 11, 2016.
Credit Acceptance Corporation (Credit Acceptance) is a provider of financing programs to automobile dealers that enable them to sell vehicles to consumers. The Company’s financing programs are offered through a nationwide network of automobile dealers; from repeat and referral sales generated by customers and from sales to customers responding to advertisements for it products. The Company has two programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program it advances money to dealer (Dealer Loan) in exchange for the right to service the underlying consumer loans. Under the Purchase Program the Company buys the consumer loans from the dealer (Purchased Loan) and keeps all amounts collected from the consumer. Its target market is independent and franchised automobile dealers in the United States. It provides dealers the ability to offer vehicle service contracts to consumers through its relationships with third-party providers (TPPs).