The stock of Credit Acceptance Corp. (NASDAQ:CACC) is a huge mover today! About 472,274 shares traded hands or 65.16% up from the average. Credit Acceptance Corp. (NASDAQ:CACC) has declined 7.25% since April 6, 2016 and is downtrending. It has underperformed by 9.21% the S&P500.
The move comes after 8 months negative chart setup for the $3.36B company. It was reported on Nov, 8 by Barchart.com. We have $149.72 PT which if reached, will make NASDAQ:CACC worth $302.40M less.
Credit Acceptance Corp. (NASDAQ:CACC) Ratings Coverage
Out of 6 analysts covering Credit Acceptance Corp (NASDAQ:CACC), 0 rate it a “Buy”, 5 “Sell”, while 1 “Hold”. This means 0 are positive. Credit Acceptance Corp has been the topic of 12 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The rating was downgraded by Zacks on Tuesday, August 4 to “Buy”. The rating was downgraded by Macquarie Research on Wednesday, May 11 to “Underperform”. Janney Capital upgraded Credit Acceptance Corp. (NASDAQ:CACC) on Monday, June 20 to “Neutral” rating. As per Tuesday, September 6, the company rating was downgraded by Compass Point. JMP Securities upgraded Credit Acceptance Corp. (NASDAQ:CACC) on Wednesday, August 26 to “Market Perform” rating. Credit Suisse downgraded it to “Underperform” rating and $185 target price in Wednesday, July 27 report. The company was upgraded on Tuesday, November 10 by Compass Point. The stock of Credit Acceptance Corp. (NASDAQ:CACC) earned “Market Underperform” rating by JMP Securities on Wednesday, March 16.
According to Zacks Investment Research, “Credit Acceptance Corporation is a specialized financial services company which provides funding, receivables management, collection, sales training and related services to automobile dealers.”
Insitutional Activity: The institutional sentiment decreased to 0.67 in Q2 2016. Its down 0.86, from 1.53 in 2016Q1. The ratio turned negative, as 30 funds sold all Credit Acceptance Corp. shares owned while 60 reduced positions. 21 funds bought stakes while 39 increased positions. They now own 9.49 million shares or 16.21% less from 11.32 million shares in 2016Q1.
Ubs Asset Mgmt Americas holds 0% of its portfolio in Credit Acceptance Corp. (NASDAQ:CACC) for 4,951 shares. Great West Life Assurance Company Can holds 0% of its portfolio in Credit Acceptance Corp. (NASDAQ:CACC) for 782 shares. Envestnet Asset Management has 0% invested in the company for 6,051 shares. Panagora Asset holds 0% of its portfolio in Credit Acceptance Corp. (NASDAQ:CACC) for 4,091 shares. Goldman Sachs Gp Inc holds 18,932 shares or 0% of its portfolio. Qcm Cayman Limited accumulated 1,520 shares or 0.12% of the stock. Eulav Asset Mngmt reported 1,100 shares or 0.01% of all its holdings. Bloombergsen holds 813,537 shares or 15.88% of its portfolio. Pacad Investment Ltd has invested 0.03% of its portfolio in Credit Acceptance Corp. (NASDAQ:CACC). Invesco Limited has 0% invested in the company for 4,696 shares. Neuberger Berman Group Ltd Liability Com, a New York-based fund reported 1,107 shares. Marshall Wace Llp last reported 4,286 shares in the company. Jacobs Levy Equity Management Incorporated reported 18,490 shares or 0.07% of all its holdings. Vanguard Group Inc accumulated 719,102 shares or 0.01% of the stock. Smith Thomas W holds 29.46% or 110,678 shares in its portfolio.
Insider Transactions: Since August 10, 2016, the stock had 0 insider purchases, and 8 selling transactions for $82.09 million net activity. The insider Watson Jill Foss sold $6.24 million. $40,650 worth of Credit Acceptance Corp. (NASDAQ:CACC) was sold by Apple Allan Victor on Wednesday, August 24.
More important recent Credit Acceptance Corp. (NASDAQ:CACC) news were published by: Seekingalpha.com which released: “Credit Acceptance Corp: Earn A 6.1% Annual Yield With These Bonds” on August 08, 2016, also Bloomberg.com published article titled: “Subprime Auto Lender Credit Acceptance Subpoenaed by Maryland”, Seekingalpha.com published: “Notes On Credit Acceptance Corp” on July 25, 2016. More interesting news about Credit Acceptance Corp. (NASDAQ:CACC) was released by: Seekingalpha.com and their article: “Credit Acceptance: A Structural Short” with publication date: September 21, 2016.
CACC Company Profile
Credit Acceptance Corporation (Credit Acceptance), incorporated on August 23, 1972, is a well-known 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 clients responding to advertisements for its products. The Firm has two programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, the Company 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 the amounts collected from the consumer. Dealer Loans and Purchased Loans are collectively referred to as Loans.
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