Insider Selling: Credit Acceptance Co. (NASDAQ:CACC) Insider Sells $541,212.00 in Stock

Credit Acceptance Co. (NASDAQ:CACC) insider Thomas W. Smith sold 1,200 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $451.01, for a total value of $541,212.00. Following the transaction, the insider now owns 74,450 shares of the company’s stock, valued at $33,577,694.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Credit Acceptance Stock Performance

NASDAQ CACC opened at $432.34 on Friday. Credit Acceptance Co. has a 52-week low of $379.77 and a 52-week high of $616.66. The company has a fifty day moving average of $500.05 and a 200-day moving average of $513.53. The company has a market capitalization of $5.24 billion, a P/E ratio of 22.18 and a beta of 1.42. The company has a debt-to-equity ratio of 3.77, a quick ratio of 19.15 and a current ratio of 19.15.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $10.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.20 by $3.09. The firm had revenue of $538.20 million during the quarter, compared to analysts’ expectations of $525.03 million. Credit Acceptance had a return on equity of 30.77% and a net margin of 9.01%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business earned $10.69 EPS. As a group, equities research analysts predict that Credit Acceptance Co. will post 38.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, TD Cowen dropped their price target on Credit Acceptance from $440.00 to $400.00 and set a “sell” rating for the company in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $395.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CACC. Crow s Nest Holdings LP lifted its holdings in shares of Credit Acceptance by 39.4% in the 4th quarter. Crow s Nest Holdings LP now owns 92,000 shares of the credit services provider’s stock worth $49,011,000 after acquiring an additional 26,000 shares during the last quarter. Quantum Capital Management LLC NJ grew its holdings in shares of Credit Acceptance by 55.9% in the fourth quarter. Quantum Capital Management LLC NJ now owns 52,896 shares of the credit services provider’s stock worth $28,179,000 after purchasing an additional 18,960 shares during the last quarter. Alfreton Capital LLP increased its stake in shares of Credit Acceptance by 22.7% in the second quarter. Alfreton Capital LLP now owns 98,128 shares of the credit services provider’s stock worth $50,505,000 after buying an additional 18,128 shares during the period. Quadrature Capital Ltd bought a new position in shares of Credit Acceptance during the first quarter valued at about $6,830,000. Finally, Goodnow Investment Group LLC boosted its holdings in shares of Credit Acceptance by 17.0% during the fourth quarter. Goodnow Investment Group LLC now owns 77,941 shares of the credit services provider’s stock worth $41,522,000 after purchasing an additional 11,310 shares during the period. 81.71% of the stock is currently owned by institutional investors.

Credit Acceptance Company Profile

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.