Credit Acceptance Co. (NASDAQ:CACC - Get Free Report) insider Douglas W. Busk sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total value of $1,547,910.00. Following the completion of the transaction, the insider now directly owns 3,112 shares in the company, valued at $1,605,698.64. This trade represents a 49.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Credit Acceptance Trading Up 0.1 %
Shares of CACC stock opened at $510.96 on Friday. 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 Co. has a 12-month low of $409.22 and a 12-month high of $614.96. The stock has a market capitalization of $6.15 billion, a P/E ratio of 25.73 and a beta of 1.51. The firm's 50 day moving average is $500.34 and its 200 day moving average is $474.17.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. Research analysts expect that Credit Acceptance Co. will post 53.24 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on CACC. Stephens boosted their price target on Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. StockNews.com upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a report on Friday, January 31st.
View Our Latest Report on Credit Acceptance
Institutional Investors Weigh In On Credit Acceptance
Hedge funds and other institutional investors have recently made changes to their positions in the business. London Co. of Virginia purchased a new position in shares of Credit Acceptance in the fourth quarter worth approximately $48,148,000. Crow s Nest Holdings LP purchased a new position in shares of Credit Acceptance during the 4th quarter worth $35,210,000. Abrams Bison Investments LLC grew its position in shares of Credit Acceptance by 30.5% during the 3rd quarter. Abrams Bison Investments LLC now owns 228,306 shares of the credit services provider's stock valued at $101,235,000 after acquiring an additional 53,306 shares during the period. Twin Lions Management LLC purchased a new stake in shares of Credit Acceptance in the 4th quarter worth $21,093,000. Finally, Wealthfront Advisers LLC bought a new position in Credit Acceptance in the 4th quarter worth $18,146,000. Hedge funds and other institutional investors own 81.71% of the company's stock.
Credit Acceptance Company Profile
(
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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