Credit Acceptance Co. (NASDAQ:CACC) Insider Douglas W. Busk Sells 3,000 Shares

Credit Acceptance Co. (NASDAQ:CACC) 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 transaction, the insider now owns 3,112 shares of the company’s stock, valued at approximately $1,605,698.64. This represents a 49.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Credit Acceptance Price Performance

CACC 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. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 25.73 and a beta of 1.51. The stock has a fifty day simple moving average of $500.34 and a two-hundred day simple moving average of $474.17. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $614.96.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. Research analysts predict that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CACC has been the subject of several research reports. Stephens upped their price objective on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

Hedge Funds Weigh In On Credit Acceptance

Institutional investors and hedge funds have recently made changes to their positions in the business. Eagle Bay Advisors LLC purchased a new stake in shares of Credit Acceptance in the 4th quarter worth approximately $28,000. First Horizon Advisors Inc. bought a new stake in Credit Acceptance in the fourth quarter worth $34,000. TD Private Client Wealth LLC purchased a new stake in shares of Credit Acceptance in the fourth quarter worth $37,000. Farther Finance Advisors LLC bought a new position in shares of Credit Acceptance during the fourth quarter valued at $38,000. Finally, Quest Partners LLC raised its position in shares of Credit Acceptance by 11,900.0% in the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after purchasing an additional 119 shares during the last quarter. Institutional investors own 81.71% of the company’s stock.

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.