5 Best Stocks to Buy According to CAS Investment Partners

In this article, we discuss 5 best stocks CAS Investment Partners is buying. If you want to read our detailed analysis of CAS Investment Partners’ history, investment philosophy, and hedge fund performance, go directly to This Hedge Fund is Up 88% This Year, Here is What It’s Buying.

5. Credit Acceptance Corporation (NASDAQ:CACC)

Net Gains: 58%

Credit Acceptance Corporation (NASDAQ:CACC) provides financing programs and related services to car dealers in the US. CAS Investment Partners confirmed a 13.7% stake in Credit Acceptance Corp worth $24.90 million in the fourth quarter of 2018. The hedge fund had been buying stakes in the company as early as the fourth quarter of 2017 at an average price of $297 a share. With the investment, the hedge fund expanded its footprint into the financial services sector as the company offers financing programs and related products and services to automobile dealers in the US.

By the time CAS investment partners exited their positions in the company in 2019, the stock had gained 58%, a significant return from the initial investment.

Out of the 910 hedge funds polled by Insider Monkey during the second quarter of 2023, 24 had also owned Credit Acceptance Corporation (NASDAQ:CACC)’s shares. Credit Acceptance Corporation (NASDAQ:CACC)’s largest investor in our database is Bo Shan’s Gobi Capital which owns 474,927 shares that are worth $241.23 million.

Credit Acceptance Corporation (NASDAQ:CACC) has a ‘Hold’ rating from one analyst. The average target is $355, which is -24.38% lower than the current price of $469.48.