Credit Acceptance Corp. (CACC) : Vassalluzzo Scott J reduced its stake in Credit Acceptance Corp. by 97.0% during the most recent quarter end. The investment management company now holds a total of 2,758 shares of Credit Acceptance Corp. which is valued at $515,167 after selling 89,037 shares in Credit Acceptance Corp. , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Credit Acceptance Corp. makes up approximately 59.40% of Vassalluzzo Scott J’s portfolio.
Other Hedge Funds, Including , Tlp Group added CACC to its portfolio by purchasing 1,280 company shares during the most recent quarter which is valued at $243,290. Credit Acceptance Corp. makes up approx 0.19% of Tlp Group’s portfolio.Global Endowment Management Lp boosted its stake in CACC in the latest quarter, The investment management firm added 36,280 additional shares and now holds a total of 86,280 shares of Credit Acceptance Corp. which is valued at $15,798,731. Credit Acceptance Corp. makes up approx 2.47% of Global Endowment Management Lp’s portfolio. Catalyst Capital Advisors sold out all of its stake in CACC during the most recent quarter. The investment firm sold 1,560 shares of CACC which is valued $285,652.Blackrock Fund Advisors boosted its stake in CACC in the latest quarter, The investment management firm added 2,894 additional shares and now holds a total of 79,404 shares of Credit Acceptance Corp. which is valued at $13,343,048.Blackrock Advisors boosted its stake in CACC in the latest quarter, The investment management firm added 462 additional shares and now holds a total of 5,243 shares of Credit Acceptance Corp. which is valued at $881,034.
Credit Acceptance Corp. closed down -0.53 points or -0.28% at $190 with 1,28,416 shares getting traded on Monday. Post opening the session at $190.5, the shares hit an intraday low of $189.5 and an intraday high of $190.94 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 $4.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Nov 1, 2016. Analyst had a consensus of $4.21. The company had revenue of $246.60 million for the quarter, compared to analysts expectations of $245.38 million. The company’s revenue was up 17.3% compared to the same quarter last year.
Many Wall Street Analysts have commented on Credit Acceptance Corp..
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).