Insider Selling: Credit Acceptance Co. (NASDAQ:CACC) Insider Sells 1,834 Shares of Stock

by · The Cerbat Gem

Credit Acceptance Co. (NASDAQ:CACC – Get Free Report) insider Wendy A. Rummler sold 1,834 shares of the business’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $430.12, for a total transaction of $788,840.08. Following the sale, the insider now directly owns 20,772 shares of the company’s stock, valued at $8,934,452.64. This represents a 8.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Credit Acceptance Stock Down 1.2 %

Shares of NASDAQ CACC traded down $5.85 during trading on Thursday, reaching $471.57. 43,617 shares of the stock were exchanged, compared to its average volume of 59,646. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $616.66. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 32.06 and a beta of 1.46. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79. The business’s 50-day moving average price is $457.91 and its 200 day moving average price is $479.47.

Credit Acceptance (NASDAQ:CACC – Get Free Report) last announced its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, beating the consensus estimate of $7.88 by $0.91. The company had revenue of $550.30 million during the quarter, compared to the consensus estimate of $548.13 million. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the firm earned $10.70 earnings per share. As a group, equities analysts forecast that Credit Acceptance Co. will post 36.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. TD Cowen reduced their price objective on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Stephens started coverage on Credit Acceptance in a research report on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price objective on the stock.

Get Our Latest Stock Report on CACC

Hedge Funds Weigh In On Credit Acceptance

A number of institutional investors have recently made changes to their positions in the business. Oddo BHF Asset Management Sas bought a new stake in shares of Credit Acceptance in the third quarter worth $3,020,000. Geode Capital Management LLC increased its position in shares of Credit Acceptance by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider’s stock worth $49,401,000 after purchasing an additional 2,522 shares during the last quarter. Barclays PLC raised its stake in shares of Credit Acceptance by 85.8% in the 3rd quarter. Barclays PLC now owns 5,241 shares of the credit services provider’s stock valued at $2,324,000 after purchasing an additional 2,420 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of Credit Acceptance during the third quarter worth about $245,000. Finally, Janus Henderson Group PLC grew its stake in Credit Acceptance by 11.4% in the third quarter. Janus Henderson Group PLC now owns 3,340 shares of the credit services provider’s stock worth $1,481,000 after purchasing an additional 343 shares in the last quarter. 81.71% of the stock is owned by institutional investors and hedge funds.

Credit Acceptance Company Profile

(Get Free Report)

Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.

Recommended Stories