Cantillon Capital Management Lowers stake in Credit Acceptance Corp. (CACC)

Credit Acceptance Corp. (CACC) : Cantillon Capital Management reduced its stake in Credit Acceptance Corp. by 2.66% during the most recent quarter end. The investment management company now holds a total of 413,651 shares of Credit Acceptance Corp. which is valued at $81,183,145 after selling 11,290 shares in Credit Acceptance Corp. , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Credit Acceptance Corp. makes up approximately 1.29% of Cantillon Capital Management’s portfolio.

Other Hedge Funds, Including , Howard Hughes Medical Institute boosted its stake in CACC in the latest quarter, The investment management firm added 6,232 additional shares and now holds a total of 41,685 shares of Credit Acceptance Corp. which is valued at $8,181,098. Credit Acceptance Corp. makes up approx 2.60% of Howard Hughes Medical Institute’s portfolio.Bloombergsen boosted its stake in CACC in the latest quarter, The investment management firm added 6,998 additional shares and now holds a total of 813,537 shares of Credit Acceptance Corp. which is valued at $151,586,349. Credit Acceptance Corp. makes up approx 17.60% of Bloombergsen’s portfolio.Seven Bridges Advisors boosted its stake in CACC in the latest quarter, The investment management firm added 819 additional shares and now holds a total of 15,914 shares of Credit Acceptance Corp. which is valued at $2,965,256. Credit Acceptance Corp. makes up approx 2.44% of Seven Bridges Advisors’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.

Credit Acceptance Corp. closed down -2.14 points or -1.03% at $205.53 with 2,87,714 shares getting traded on Monday. Post opening the session at $208.62, the shares hit an intraday low of $203.92 and an intraday high of $209.43 and the price fluctuated in this range throughout the day.Shares ended Monday 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.. Company shares were Reiterated by Compass Point on Aug 1, 2016 to “Neutral”, Firm has raised the Price Target to $ 170 from a previous price target of $160 .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).

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