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 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 completion of the transaction, the insider now owns 3,112 shares of the company’s stock, valued at approximately $1,605,698.64. The trade was a 49.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Credit Acceptance Trading Up 0.1 %

CACC traded up $0.55 during mid-day trading on Thursday, reaching $510.96. The stock had a trading volume of 107,782 shares, compared to its average volume of 57,965. The stock has a market capitalization of $6.15 billion, a P/E ratio of 25.73 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 debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. The firm’s fifty day simple moving average is $499.76 and its two-hundred day simple moving average is $473.92.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data 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 return on equity of 29.01% and a net margin of 11.46%. On average, equities analysts predict that Credit Acceptance Co. will post 53.24 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CACC. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Stephens raised their price objective on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st.

Institutional Investors Weigh In On Credit Acceptance

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Credit Acceptance by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 486,828 shares of the credit services provider’s stock valued at $228,546,000 after acquiring an additional 5,134 shares during the last quarter. Beck Mack & Oliver LLC boosted its position in shares of Credit Acceptance by 1.6% in the 4th quarter. Beck Mack & Oliver LLC now owns 391,238 shares of the credit services provider’s stock worth $183,671,000 after purchasing an additional 6,214 shares during the last quarter. Abrams Bison Investments LLC boosted its position in shares of Credit Acceptance by 30.5% in the 3rd quarter. Abrams Bison Investments LLC now owns 228,306 shares of the credit services provider’s stock worth $101,235,000 after purchasing an additional 53,306 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Credit Acceptance by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 183,203 shares of the credit services provider’s stock worth $86,004,000 after purchasing an additional 1,318 shares during the period. Finally, MIG Capital LLC lifted its stake in Credit Acceptance by 8.6% in the fourth quarter. MIG Capital LLC now owns 126,467 shares of the credit services provider’s stock valued at $59,371,000 after buying an additional 9,976 shares during the period. 81.71% of the stock is owned by institutional investors.

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.