Jonathan Lum Sells 552 Shares of Credit Acceptance Co. (NASDAQ:CACC) Stock

Credit Acceptance Co. (NASDAQ:CACC) COO Jonathan Lum sold 552 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total transaction of $270,424.80. Following the sale, the chief operating officer now owns 31,493 shares in the company, valued at $15,428,420.70. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Credit Acceptance Stock Up 0.0 %

CACC stock opened at $461.19 on Friday. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. Credit Acceptance Co. has a 12 month low of $409.22 and a 12 month high of $616.66. The firm has a market capitalization of $5.59 billion, a PE ratio of 30.97 and a beta of 1.46. The company’s 50 day simple moving average is $467.28 and its 200-day simple moving average is $479.33.

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Credit Acceptance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its holdings in Credit Acceptance by 38.6% in the 2nd quarter. Renaissance Technologies LLC now owns 7,900 shares of the credit services provider’s stock valued at $4,066,000 after acquiring an additional 2,200 shares during the last quarter. Smead Capital Management Inc. grew its position in shares of Credit Acceptance by 3.5% in the third quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider’s stock valued at $92,155,000 after purchasing an additional 7,012 shares during the period. Ascent Group LLC increased its stake in Credit Acceptance by 12.2% in the second quarter. Ascent Group LLC now owns 5,602 shares of the credit services provider’s stock valued at $2,883,000 after purchasing an additional 611 shares during the last quarter. Rhumbline Advisers lifted its position in Credit Acceptance by 10.1% during the second quarter. Rhumbline Advisers now owns 9,235 shares of the credit services provider’s stock worth $4,753,000 after buying an additional 844 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Credit Acceptance in the 2nd quarter worth about $876,000. Hedge funds and other institutional investors own 81.71% of the company’s stock.

About Credit Acceptance

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.