Prescott General Partners Llc Sells 10,000 Shares of Credit Acceptance Corp. (NASDAQ:CACC) Stock

Credit Acceptance Corp. (NASDAQ:CACC) insider Prescott General Partners Llc sold 10,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $434.71, for a total value of $4,347,100.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Prescott General Partners Llc also recently made the following trade(s):

  • On Monday, January 13th, Prescott General Partners Llc sold 10,000 shares of Credit Acceptance stock. The shares were sold at an average price of $439.21, for a total value of $4,392,100.00.
  • On Wednesday, January 8th, Prescott General Partners Llc sold 9,500 shares of Credit Acceptance stock. The shares were sold at an average price of $434.64, for a total value of $4,129,080.00.
  • On Monday, January 6th, Prescott General Partners Llc sold 10,000 shares of Credit Acceptance stock. The shares were sold at an average price of $434.63, for a total value of $4,346,300.00.
  • On Thursday, January 2nd, Prescott General Partners Llc sold 10,000 shares of Credit Acceptance stock. The shares were sold at an average price of $441.62, for a total value of $4,416,200.00.

Shares of CACC stock traded up $4.18 during mid-day trading on Tuesday, reaching $445.60. The stock had a trading volume of 123,864 shares, compared to its average volume of 137,432. The business’s fifty day moving average is $437.66 and its 200-day moving average is $455.90. The company has a current ratio of 29.49, a quick ratio of 29.49 and a debt-to-equity ratio of 1.75. The firm has a market cap of $8.19 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.86 and a beta of 0.67. Credit Acceptance Corp. has a 1-year low of $385.36 and a 1-year high of $509.99.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Friday, November 1st. The credit services provider reported $8.89 earnings per share for the quarter, beating analysts’ consensus estimates of $8.86 by $0.03. The business had revenue of $378.70 million for the quarter, compared to analyst estimates of $380.69 million. Credit Acceptance had a return on equity of 29.54% and a net margin of 44.69%. The company’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company earned $7.56 earnings per share. On average, analysts forecast that Credit Acceptance Corp. will post 34.69 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Nuveen Asset Management LLC increased its holdings in shares of Credit Acceptance by 390.9% in the second quarter. Nuveen Asset Management LLC now owns 163,973 shares of the credit services provider’s stock valued at $79,336,000 after purchasing an additional 130,573 shares during the period. Goodnow Investment Group LLC boosted its stake in shares of Credit Acceptance by 0.5% in the second quarter. Goodnow Investment Group LLC now owns 149,575 shares of the credit services provider’s stock worth $72,369,000 after buying an additional 745 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Credit Acceptance by 13.5% in the second quarter. AQR Capital Management LLC now owns 139,580 shares of the credit services provider’s stock worth $66,155,000 after buying an additional 16,649 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Credit Acceptance by 1.4% in the second quarter. Northern Trust Corp now owns 69,497 shares of the credit services provider’s stock worth $33,625,000 after buying an additional 928 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Credit Acceptance by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 48,211 shares of the credit services provider’s stock worth $23,325,000 after buying an additional 305 shares during the last quarter. 59.63% of the stock is currently owned by institutional investors and hedge funds.

CACC has been the topic of several recent analyst reports. Credit Suisse Group upped their target price on Credit Acceptance from $380.00 to $390.00 and gave the company an “underperform” rating in a research report on Thursday, November 14th. BMO Capital Markets cut their price objective on Credit Acceptance to $472.00 and set an “in-line” rating on the stock in a report on Tuesday, November 5th. BidaskClub lowered Credit Acceptance from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 30th. ValuEngine raised Credit Acceptance from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Stephens raised Credit Acceptance from an “underweight” rating to an “equal weight” rating in a report on Friday, January 3rd. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Credit Acceptance presently has an average rating of “Hold” and an average target price of $444.17.

Credit Acceptance Company Profile

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

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Insider Buying and Selling by Quarter for Credit Acceptance (NASDAQ:CACC)

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