Credit Acceptance Co. (NASDAQ:CACC) Insider Sells $1,547,910.00 in Stock

Credit Acceptance Co. (NASDAQ:CACC) insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link.

Credit Acceptance Price Performance

Shares of NASDAQ CACC opened at $513.13 on Friday. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. The firm has a fifty day moving average of $500.90 and a 200 day moving average of $474.99. The firm has a market cap of $6.17 billion, a PE ratio of 25.84 and a beta of 1.51. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $614.96.

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

Analysts Set New Price Targets

CACC has been the subject of a number of recent analyst reports. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Stephens lifted their price target on Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st.

Hedge Funds Weigh In On Credit Acceptance

A number of hedge funds have recently made changes to their positions in the company. Park Avenue Securities LLC acquired a new stake in shares of Credit Acceptance in the fourth quarter worth approximately $680,000. Geode Capital Management LLC lifted its holdings in Credit Acceptance by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider’s stock valued at $49,401,000 after purchasing an additional 2,522 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in Credit Acceptance during the 4th quarter worth $18,146,000. Barclays PLC grew its holdings in shares of Credit Acceptance by 85.8% during the third quarter. Barclays PLC now owns 5,241 shares of the credit services provider’s stock worth $2,324,000 after buying an additional 2,420 shares in the last quarter. Finally, AlphaQuest LLC raised its position in shares of Credit Acceptance by 759.2% in the fourth quarter. AlphaQuest LLC now owns 1,031 shares of the credit services provider’s stock valued at $484,000 after buying an additional 911 shares during the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

About Credit Acceptance

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.