Trellus Management Company buys $1,124,582 stake in Credit Acceptance Corp. (CACC)

Credit Acceptance Corp. (CACC) : Trellus Management Company scooped up 3,460 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 18, 2016. The investment management firm now holds a total of 5,760 shares of Credit Acceptance Corp. which is valued at $1,124,582.Credit Acceptance Corp. makes up approximately 2.54% of Trellus Management Company’s portfolio.

Other Hedge Funds, Including , 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.Cutler Group Lp boosted its stake in CACC in the latest quarter, The investment management firm added 2,000 additional shares and now holds a total of 2,116 shares of Credit Acceptance Corp. which is valued at $403,267. Credit Acceptance Corp. makes up approx 0.03% of Cutler Group Lp’s portfolio. Creative Planning added CACC to its portfolio by purchasing 25 company shares during the most recent quarter which is valued at $4,765.Bnp Paribas Arbitrage Sa reduced its stake in CACC by selling 443 shares or 29.93% in the most recent quarter. The Hedge Fund company now holds 1,037 shares of CACC which is valued at $191,295.

Credit Acceptance Corp. opened for trading at $195.1 and hit $196.37 on the upside on Wednesday, eventually ending the session at $195.24, with a gain of 0.31% or 0.6 points. The heightened volatility saw the trading volume jump to 1,20,694 shares. Company has a market cap of $3,969 M.

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 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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