Credit Acceptance Co. (NASDAQ:CACC - Get Free Report) insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total value of $150,600.00. Following the transaction, the insider now owns 19,385 shares of the company's stock, valued at approximately $9,731,270. The trade was a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Credit Acceptance Stock Up 3.3 %
CACC stock opened at $512.02 on Tuesday. The firm's 50-day moving average is $498.02 and its two-hundred day moving average is $473.15. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 25.78 and a beta of 1.51. Credit Acceptance Co. has a 52 week low of $409.22 and a 52 week high of $614.96. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. On average, analysts forecast that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Credit Acceptance
Several hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC boosted its holdings in Credit Acceptance by 5.7% during the third quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider's stock worth $263,000 after buying an additional 32 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Credit Acceptance during the 4th quarter worth $28,000. US Bancorp DE grew its holdings in shares of Credit Acceptance by 50.4% in the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider's stock worth $84,000 after acquiring an additional 60 shares during the last quarter. Xponance Inc. raised its holdings in Credit Acceptance by 10.4% during the 4th quarter. Xponance Inc. now owns 730 shares of the credit services provider's stock worth $343,000 after buying an additional 69 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in shares of Credit Acceptance by 7.2% during the fourth quarter. Corient Private Wealth LLC now owns 1,030 shares of the credit services provider's stock valued at $484,000 after acquiring an additional 69 shares during the period. Institutional investors and hedge funds own 81.71% of the company's stock.
Analyst Ratings Changes
Several brokerages recently weighed in on CACC. Stephens lifted their price objective on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. StockNews.com upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st.
Read Our Latest Research Report on CACC
About Credit Acceptance
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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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