Credit Acceptance Corporation (NASDAQ:CACC) Insider Sells $189,483.75 in Stock

Credit Acceptance Corporation (NASDAQ:CACC) insider Andrew K. Rostami sold 375 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $505.29, for a total transaction of $189,483.75. Following the completion of the sale, the insider now directly owns 25,478 shares in the company, valued at $12,873,778.62. This trade represents a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Credit Acceptance Price Performance

Shares of CACC opened at $509.24 on Thursday. Credit Acceptance Corporation has a fifty-two week low of $409.22 and a fifty-two week high of $614.96. The firm’s 50 day moving average price is $489.71 and its 200 day moving average price is $490.24. The company has a market cap of $5.91 billion, a P/E ratio of 21.73 and a beta of 1.15. The company has a quick ratio of 17.64, a current ratio of 17.64 and a debt-to-equity ratio of 3.92.

Credit Acceptance (NASDAQ:CACC) last announced its earnings results on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share for the quarter, missing the consensus estimate of $10.31 by ($0.96). Credit Acceptance had a return on equity of 28.60% and a net margin of 13.03%. The business had revenue of $571.10 million for the quarter, compared to analysts’ expectations of $570.25 million. During the same period in the previous year, the company earned $9.28 earnings per share. Credit Acceptance’s quarterly revenue was up 12.4% on a year-over-year basis. On average, research analysts forecast that Credit Acceptance Corporation will post 53.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL grew its holdings in Credit Acceptance by 5.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,185 shares of the credit services provider’s stock worth $1,026,000 after acquiring an additional 110 shares in the last quarter. Bridgewater Associates LP grew its holdings in Credit Acceptance by 268.2% during the 4th quarter. Bridgewater Associates LP now owns 8,354 shares of the credit services provider’s stock worth $3,922,000 after acquiring an additional 6,085 shares in the last quarter. Northern Trust Corp grew its holdings in Credit Acceptance by 7.9% during the 4th quarter. Northern Trust Corp now owns 37,772 shares of the credit services provider’s stock worth $17,732,000 after acquiring an additional 2,773 shares in the last quarter. CX Institutional acquired a new position in Credit Acceptance during the 1st quarter worth approximately $36,000. Finally, Corient Private Wealth LLC grew its holdings in Credit Acceptance by 7.2% during the 4th quarter. Corient Private Wealth LLC now owns 1,030 shares of the credit services provider’s stock worth $484,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 81.71% 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.