Credit Acceptance Co. (NASDAQ:CACC - Get Free Report) insider Wendy A. Rummler sold 1,834 shares of the company's stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $430.12, for a total value of $788,840.08. Following the sale, the insider now owns 20,772 shares in the company, valued at $8,934,452.64. The trade was a 8.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Credit Acceptance Price Performance
NASDAQ:CACC opened at $471.57 on Friday. 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 $5.71 billion, a price-to-earnings ratio of 31.67 and a beta of 1.46. The stock's 50 day moving average price is $458.52 and its two-hundred day moving average price is $479.42. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share 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 business 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 business earned $10.70 EPS. The firm's revenue for the quarter was up 15.0% on a year-over-year basis. On average, analysts anticipate that Credit Acceptance Co. will post 36.54 earnings per share for the current year.
Analyst Upgrades and Downgrades
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A number of equities research analysts have recently issued reports on CACC shares. TD Cowen dropped their price objective on Credit Acceptance from $400.00 to $380.00 and set a "sell" rating on the stock in a research note on Friday, November 1st. Stephens began coverage on shares of Credit Acceptance in a research report on Wednesday, November 13th. They set an "equal weight" rating and a $452.00 price target on the stock. Finally, StockNews.com raised shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th.
Read Our Latest Report on Credit Acceptance
Institutional Trading of Credit Acceptance
Hedge funds have recently modified their holdings of the stock. Diversified Trust Co bought a new position in Credit Acceptance in the 2nd quarter valued at about $618,000. Renaissance Technologies LLC lifted its holdings in Credit Acceptance by 38.6% during the 2nd quarter. Renaissance Technologies LLC now owns 7,900 shares of the credit services provider's stock worth $4,066,000 after purchasing an additional 2,200 shares during the last quarter. Smead Capital Management Inc. lifted its holdings in Credit Acceptance by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider's stock worth $92,155,000 after purchasing an additional 7,012 shares during the last quarter. Ascent Group LLC boosted its stake in Credit Acceptance by 12.2% in the 2nd 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 period. Finally, Rhumbline Advisers grew its holdings in Credit Acceptance by 10.1% in the 2nd quarter. Rhumbline Advisers now owns 9,235 shares of the credit services provider's stock valued at $4,753,000 after buying an additional 844 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company's stock.
About Credit Acceptance
(
Get Free Report)
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.
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