Insider Selling: Credit Acceptance Co. (NASDAQ:CACC) Insider Sells $150,600.00 in Stock

Credit Acceptance Co. (NASDAQ:CACC) insider Nicholas J. Elliott sold 300 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $502.00, for a total transaction of $150,600.00. Following the transaction, the insider now owns 19,385 shares in the company, valued at approximately $9,731,270. The trade was a 1.52 % 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 hyperlink.

Credit Acceptance Trading Down 0.8 %

NASDAQ CACC opened at $510.41 on Thursday. 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 company’s 50 day moving average price is $499.76 and its 200 day moving average price is $473.92. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 25.70 and a beta of 1.51.

Credit Acceptance (NASDAQ:CACC) last issued 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, sell-side analysts predict that Credit Acceptance Co. will post 53.24 EPS for the current year.

Hedge Funds Weigh In On Credit Acceptance

Hedge funds and other institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC lifted its position in shares of Credit Acceptance by 5.7% during the third quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider’s stock worth $263,000 after purchasing an additional 32 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in Credit Acceptance in the 4th quarter worth $28,000. US Bancorp DE boosted its position in Credit Acceptance by 50.4% in the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock valued at $84,000 after buying an additional 60 shares during the last quarter. Xponance Inc. grew its stake in shares of Credit Acceptance by 10.4% during the fourth quarter. Xponance Inc. now owns 730 shares of the credit services provider’s stock valued at $343,000 after acquiring an additional 69 shares in the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Credit Acceptance by 7.2% during the fourth 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 during the last quarter. 81.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Stephens increased their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

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.