Insider Selling: Credit Acceptance (NASDAQ:CACC) Insider Sells 2,139 Shares of Stock

Credit Acceptance Corporation (NASDAQ:CACC) insider Daniel Ulatowski sold 2,139 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $509.05, for a total value of $1,088,857.95. Following the transaction, the insider owned 28,290 shares in the company, valued at $14,401,024.50. This represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Credit Acceptance Stock Performance

CACC traded up $9.38 on Tuesday, hitting $521.71. 175,923 shares of the stock traded hands, compared to its average volume of 116,256. Credit Acceptance Corporation has a 52 week low of $409.22 and a 52 week high of $560.00. The company has a current ratio of 22.03, a quick ratio of 22.03 and a debt-to-equity ratio of 4.16. The firm has a market capitalization of $5.86 billion, a PE ratio of 15.04 and a beta of 1.13. The business has a fifty day moving average price of $499.94 and a two-hundred day moving average price of $494.25.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results on Thursday, July 31st. The credit services provider reported $8.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.84 by ($1.28). Credit Acceptance had a net margin of 18.69% and a return on equity of 27.06%. The firm had revenue of $583.80 million for the quarter, compared to the consensus estimate of $583.30 million. During the same quarter in the prior year, the firm earned $10.29 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. On average, research analysts predict that Credit Acceptance Corporation will post 53.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Credit Acceptance

Several institutional investors and hedge funds have recently added to or reduced their stakes in CACC. Sierra Ocean LLC bought a new position in Credit Acceptance during the first quarter valued at about $26,000. CX Institutional acquired a new stake in Credit Acceptance during the first quarter valued at approximately $36,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Credit Acceptance during the first quarter valued at approximately $44,000. Harbor Capital Advisors Inc. acquired a new stake in Credit Acceptance during the first quarter valued at approximately $49,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in Credit Acceptance by 13,400.0% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 135 shares of the credit services provider’s stock valued at $64,000 after purchasing an additional 134 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors.

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.