Jill Foss Watson Sells 10,000 Shares of Credit Acceptance Co. (NASDAQ:CACC) Stock

Credit Acceptance Co. (NASDAQ:CACC) major shareholder Jill Foss Watson sold 10,000 shares of the firm’s stock in a transaction dated Friday, July 16th. The shares were sold at an average price of $456.03, for a total value of $4,560,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Jill Foss Watson also recently made the following trade(s):

  • On Monday, July 12th, Jill Foss Watson sold 21,600 shares of Credit Acceptance stock. The shares were sold at an average price of $453.28, for a total value of $9,790,848.00.
  • On Friday, July 9th, Jill Foss Watson sold 18,000 shares of Credit Acceptance stock. The shares were sold at an average price of $445.68, for a total value of $8,022,240.00.

CACC stock opened at $473.33 on Thursday. The company has a debt-to-equity ratio of 1.99, a current ratio of 35.08 and a quick ratio of 35.08. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 11.77 and a beta of 1.20. Credit Acceptance Co. has a 1-year low of $266.74 and a 1-year high of $539.00. The business’s 50 day simple moving average is $437.68.

Credit Acceptance (NASDAQ:CACC) last announced its earnings results on Wednesday, April 28th. The credit services provider reported $11.82 EPS for the quarter, topping the consensus estimate of $7.93 by $3.89. The business had revenue of $451.00 million during the quarter, compared to the consensus estimate of $427.90 million. Credit Acceptance had a net margin of 40.83% and a return on equity of 29.86%. As a group, research analysts predict that Credit Acceptance Co. will post 43.04 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in CACC. Transform Wealth LLC acquired a new stake in Credit Acceptance during the 2nd quarter worth approximately $681,000. Teachers Retirement System of The State of Kentucky lifted its holdings in Credit Acceptance by 7.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 16,679 shares of the credit services provider’s stock worth $6,008,000 after purchasing an additional 1,089 shares during the last quarter. Virtu Financial LLC acquired a new stake in Credit Acceptance during the 1st quarter worth approximately $398,000. Eaton Vance Management acquired a new stake in Credit Acceptance during the 1st quarter worth approximately $64,000. Finally, Maverick Capital Ltd. lifted its holdings in Credit Acceptance by 1,971.8% during the 1st quarter. Maverick Capital Ltd. now owns 57,720 shares of the credit services provider’s stock worth $20,792,000 after purchasing an additional 54,934 shares during the last quarter. 69.09% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently commented on CACC. BMO Capital Markets reissued a “hold” rating and issued a $399.00 price objective on shares of Credit Acceptance in a report on Wednesday, July 7th. Credit Suisse Group upped their target price on shares of Credit Acceptance from $310.00 to $330.00 and gave the company an “underperform” rating in a report on Tuesday, July 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $392.60.

Credit Acceptance Company Profile

Credit Acceptance Corp. engages in the provision of dealer financing programs that enables automobile dealers to sell vehicles to consumers, regardless of its credit history. Its financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers.

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