Gobi Capital LLC recently announced the acquisition of new stake in Credit Acceptance Corporation (NASDAQ:CACC). The institutional investor has increased its shareholding in the Financial company by 3.39% to 0.51 million shares with purchase of 16760.0 shares. This fresh investment now brings its stake to 3.96% valued currently at $242.54 million.
With over 0.19 million Credit Acceptance Corporation (CACC) shares trading Friday and a closing price of $405.99 on the day, the dollar volume was approximately $76.18 million. The shares have shown a negative half year performance of -26.75% and its price on 01/20/23 gained nearly 6.44%. Currently, there are 13.29M common shares owned by the public and among those 8.68M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for CACC have a consensus price objective of $405.67. The analysts have set the share’s price value over the next 12 months at a high of $479.00 and a low of $353.00. The average price target is 2.45% above its recent price level and a downside to the estimated low will see the stock lose -15.01% over that period. But an upside of 15.24% will see the stock hit the forecast high price target while median target price for the stock is $400.00.
Insiders at the company have transacted a total of 21 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 3 of these insider trades were purchases, accounting for 9,300 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 178,232 shares.
The top 3 mutual fund holders in Credit Acceptance Corporation are Sequoia Fund, Hartford Mid Cap Fund, and Principal Investors – Mid Cap Fun. Sequoia Fund owns 0.3 million shares of the company’s stock, all valued at over $141.49 million. Hartford Mid Cap Fund sold 9350.0 shares to see its total holdings shrink to 0.29 million shares valued at over $138.45 million and representing 2.26% of the shares outstanding. Principal Investors – Mid Cap Fun sold 5155.0 shares to bring its total holdings to over 0.2 million shares at a value of $96.02 million. Principal Investors – Mid Cap Fun now owns shares totaling to 1.57% of the shares outstanding.
Shares of Credit Acceptance Corporation (NASDAQ: CACC) opened at $381.59, up $0.16 from a prior closing price of $381.43. However, the script later moved the day high at 411.33, up 6.44%. The company’s stock has a 5-day price change of -2.98% and -3.26% over the past three months. CACC shares are trading -14.42% year to date (YTD), with the 12-month market performance down to -26.70% lower. It has a 12-month low price of $358.00 and touched a high of $648.95 over the same period. CACC has an average intraday trading volume of 121.17K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.70%, -10.00%, and -19.74% respectively.
Institutional ownership of Credit Acceptance Corporation (NASDAQ: CACC) shares accounts for 61.90% of the company’s 13.29M shares outstanding. Mutual fund holders own 40.40%, while other institutional holders and individual stakeholders account for 79.62% and 18.77% respectively.
It has a market capitalization of $4.93B and a beta (3y monthly) value of 1.32. The stock’s trailing 12-month PE ratio is 9.19, while the earnings-per-share (ttm) stands at $44.16. The company has a PEG of 0.42 and the debt-to-equity ratio at 2.91. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.33% over the week and 5.53% over the month.
Analysts forecast that Credit Acceptance Corporation (CACC) will achieve an EPS of $10.32 for the current quarter, $9.99 for the next quarter and $45.93 for 2023. The lowest estimate earnings-per-share for the quarter is $8.75 while analysts give the company a high EPS estimate of $13.18. Comparatively, EPS for the current quarter was $15.79 a year ago. Earnings per share for the fiscal year are expected to increase by 153.60%, and -7.31% over the next financial year. EPS should shrink at an annualized rate of 22.08% over the next five years, compared to 29.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Credit Acceptance Corporation (CACC) as a “Hold” at a consensus score of 3.20. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 4 of the 6 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the CACC, a number of firms have released research notes about the stock. Janney stated their Neutral rating for the stock in a research note on July 31, 2020, with the firm’s price target at $394. Stephens on their part issued Equal-Weight rating on January 03, 2019.