Credit Acceptance Co. (NASDAQ:CACC) Insider Sells $150,600.00 in Stock

Credit Acceptance Co. (NASDAQ:CACC) insider Nicholas J. Elliott sold 300 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $502.00, for a total transaction of $150,600.00. Following the completion of the transaction, the insider now owns 19,385 shares in the company, valued at $9,731,270. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Credit Acceptance Stock Performance

Shares of CACC stock opened at $514.57 on Wednesday. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 25.91 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 quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63. The company’s 50 day moving average is $499.07 and its 200 day moving average is $473.66.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts anticipate that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Institutional Trading of Credit Acceptance

Hedge funds have recently modified their holdings of the company. Eagle Bay Advisors LLC purchased a new stake in Credit Acceptance during the fourth quarter valued at approximately $28,000. First Horizon Advisors Inc. acquired a new position in shares of Credit Acceptance during the fourth quarter worth $34,000. TD Private Client Wealth LLC purchased a new stake in shares of Credit Acceptance during the 4th quarter valued at $37,000. Farther Finance Advisors LLC acquired a new stake in shares of Credit Acceptance in the 4th quarter worth $38,000. Finally, Quest Partners LLC grew its stake in Credit Acceptance by 11,900.0% during the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after buying an additional 119 shares during the last quarter. 81.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Stephens increased their price target on Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st.

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.