Voleon Capital Management LP Purchases Shares of 964 Credit Acceptance Corporation $CACC

Voleon Capital Management LP acquired a new stake in Credit Acceptance Corporation (NASDAQ:CACC) in the first quarter, HoldingsChannel reports. The institutional investor acquired 964 shares of the credit services provider’s stock, valued at approximately $498,000.

Several other institutional investors have also made changes to their positions in the business. Khrom Capital Management LLC bought a new stake in Credit Acceptance in the first quarter valued at about $30,639,000. Millennium Management LLC grew its stake in shares of Credit Acceptance by 708.8% in the 4th quarter. Millennium Management LLC now owns 43,426 shares of the credit services provider’s stock valued at $20,387,000 after purchasing an additional 38,057 shares during the period. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Credit Acceptance in the 1st quarter valued at approximately $18,481,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Credit Acceptance in the 1st quarter worth approximately $12,999,000. Finally, Alfreton Capital LLP lifted its position in shares of Credit Acceptance by 11.8% during the 1st quarter. Alfreton Capital LLP now owns 190,000 shares of the credit services provider’s stock worth $98,106,000 after buying an additional 20,000 shares during the period. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Credit Acceptance Price Performance

Shares of CACC stock opened at $518.74 on Wednesday. The stock’s fifty day simple moving average is $501.92 and its 200 day simple moving average is $494.67. Credit Acceptance Corporation has a one year low of $409.22 and a one year high of $560.00. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 14.95 and a beta of 1.25. The company has a debt-to-equity ratio of 4.16, a current ratio of 22.03 and a quick ratio of 22.03.

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

Insider Activity

In other news, insider Daniel A. Ulatowski sold 2,139 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $509.05, for a total transaction of $1,088,857.95. Following the completion of the sale, the insider owned 28,290 shares of the company’s stock, valued at approximately $14,401,024.50. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Jill Foss Watson sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $539.97, for a total value of $10,799,400.00. Following the completion of the transaction, the insider directly owned 102,107 shares in the company, valued at $55,134,716.79. The trade was a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,072 shares of company stock valued at $15,943,779. Company insiders own 6.60% 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.