Credit Acceptance Corp. (NASDAQ:CACC) Major Shareholder Sells $2,787,703.75 in Stock

Credit Acceptance Corp. (NASDAQ:CACC) major shareholder Donald A. Foss sold 6,175 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $451.45, for a total value of $2,787,703.75. Following the completion of the transaction, the insider now owns 1,753,229 shares in the company, valued at approximately $791,495,232.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

NASDAQ:CACC opened at $455.31 on Monday. The firm has a market capitalization of $8.04 billion, a PE ratio of 21.28 and a beta of 1.29. The stock has a 50 day moving average of $435.94 and a 200-day moving average of $382.50. Credit Acceptance Corp. has a 52 week low of $199.00 and a 52 week high of $499.61. The company has a current ratio of 28.62, a quick ratio of 28.62 and a debt-to-equity ratio of 2.42.

Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Wednesday, May 27th. The credit services provider reported ($4.61) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.82 by ($8.43). The company had revenue of $389.10 million for the quarter, compared to the consensus estimate of $412.56 million. Credit Acceptance had a net margin of 26.76% and a return on equity of 30.52%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the company posted $8.08 earnings per share. As a group, analysts predict that Credit Acceptance Corp. will post 33.55 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. Allred Capital Management LLC grew its holdings in shares of Credit Acceptance by 120.5% during the first quarter. Allred Capital Management LLC now owns 97 shares of the credit services provider’s stock valued at $25,000 after purchasing an additional 53 shares during the last quarter. CWM Advisors LLC bought a new position in Credit Acceptance in the 1st quarter worth approximately $35,000. NN Investment Partners Holdings N.V. bought a new position in Credit Acceptance in the 2nd quarter worth approximately $59,000. Bartlett & Co. LLC bought a new position in Credit Acceptance in the 1st quarter worth approximately $83,000. Finally, Piedmont Investment Advisors Inc. grew its holdings in Credit Acceptance by 14.0% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 799 shares of the credit services provider’s stock worth $204,000 after buying an additional 98 shares in the last quarter. 70.36% of the stock is owned by institutional investors.

Several brokerages have issued reports on CACC. ValuEngine cut Credit Acceptance from a “hold” rating to a “sell” rating in a research note on Friday, May 29th. BTIG Research cut their price objective on Credit Acceptance from $190.00 to $160.00 and set a “sell” rating on the stock in a research note on Monday, April 6th. BidaskClub upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. TheStreet cut Credit Acceptance from a “b-” rating to a “c+” rating in a research note on Thursday, April 2nd. Finally, JMP Securities cut their price objective on Credit Acceptance from $350.00 to $150.00 and set a “market underperform” rating on the stock in a research note on Friday, April 3rd. Five investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $241.40.

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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