Bloombergsen buys $141.4 Million stake in Credit Acceptance Corp. (CACC)

Credit Acceptance Corp. (CACC) : Bloombergsen scooped up 8,209 additional shares in Credit Acceptance Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 806,539 shares of Credit Acceptance Corp. which is valued at $141.4 Million.Credit Acceptance Corp. makes up approximately 16.20% of Bloombergsen’s portfolio.

Other Hedge Funds, Including , Allianz Asset Management Ag boosted its stake in CACC in the latest quarter, The investment management firm added 2,431 additional shares and now holds a total of 125,586 shares of Credit Acceptance Corp. which is valued at $22 Million. Credit Acceptance Corp. makes up approx 0.03% of Allianz Asset Management Ag’s portfolio.Catalyst Capital Advisors reduced its stake in CACC by selling 40 shares or 0.1% in the most recent quarter. The Hedge Fund company now holds 39,460 shares of CACC which is valued at $6.9 Million. Credit Acceptance Corp. makes up approx 1.25% of Catalyst Capital Advisors’s portfolio.Bbva Compass Bancshares Inc boosted its stake in CACC in the latest quarter, The investment management firm added 695 additional shares and now holds a total of 9,381 shares of Credit Acceptance Corp. which is valued at $1.7 Million. Credit Acceptance Corp. makes up approx 0.13% of Bbva Compass Bancshares Inc’s portfolio.Swiss National Bank boosted its stake in CACC in the latest quarter, The investment management firm added 1,777 additional shares and now holds a total of 12,377 shares of Credit Acceptance Corp. which is valued at $2.3 Million.Ingalls Snyder reduced its stake in CACC by selling 1,971 shares or 2.11% in the most recent quarter. The Hedge Fund company now holds 91,553 shares of CACC which is valued at $18 Million. Credit Acceptance Corp. makes up approx 1.10% of Ingalls Snyder’s portfolio.

Credit Acceptance Corp. closed down -3.13 points or -1.65% at $186.7 with 3,44,689 shares getting traded on Wednesday. Post opening the session at $191.04, the shares hit an intraday low of $186.07 and an intraday high of $194.95 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Many Wall Street Analysts have commented on Credit Acceptance Corp.. Credit Acceptance Corp. was Downgraded by Macquarie to ” Underperform” on May 11, 2016. Credit Acceptance Corp. was Downgraded by JMP Securities to ” Mkt Underperform” on Mar 16, 2016. Company shares were Reiterated by Compass Point on Feb 16, 2016 to “Neutral”, Firm has raised the Price Target to $ 160 from a previous price target of $150 .

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).

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