Credit Acceptance Co. (NASDAQ:CACC) is RV Capital AG’s 3rd Largest Position

RV Capital AG reduced its stake in Credit Acceptance Co. (NASDAQ:CACC) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 128,929 shares of the credit services provider’s stock after selling 2,659 shares during the quarter. Credit Acceptance accounts for 14.7% of RV Capital AG’s investment portfolio, making the stock its 3rd biggest holding. RV Capital AG’s holdings in Credit Acceptance were worth $66,572,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of CACC. London Co. of Virginia acquired a new position in Credit Acceptance during the 4th quarter worth approximately $48,148,000. Crow s Nest Holdings LP acquired a new position in Credit Acceptance during the fourth quarter worth $35,210,000. Twin Lions Management LLC purchased a new position in Credit Acceptance in the fourth quarter worth $21,093,000. Wealthfront Advisers LLC purchased a new position in Credit Acceptance in the fourth quarter worth $18,146,000. Finally, Millennium Management LLC lifted its holdings in Credit Acceptance by 708.8% in the fourth quarter. Millennium Management LLC now owns 43,426 shares of the credit services provider’s stock valued at $20,387,000 after acquiring an additional 38,057 shares during the period. Institutional investors and hedge funds own 81.71% of the company’s stock.

Credit Acceptance Price Performance

Shares of NASDAQ CACC opened at $505.60 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. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $614.96. The firm has a market capitalization of $5.87 billion, a P/E ratio of 25.46 and a beta of 1.15. The company’s fifty day moving average is $485.87 and its two-hundred day moving average is $488.41.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $9.35 EPS for the quarter, missing analysts’ consensus estimates of $10.31 by ($0.96). Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. The company had revenue of $571.10 million for the quarter, compared to analysts’ expectations of $570.25 million. During the same period in the prior year, the firm posted $9.28 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Insider Transactions at Credit Acceptance

In other news, insider Nicholas J. Elliott sold 300 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total value of $150,600.00. Following the completion of the transaction, the insider now owns 19,385 shares in the company, valued at $9,731,270. This trade represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total value of $1,547,910.00. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at $1,605,698.64. This trade represents a 49.08% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.30% 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.