Credit Acceptance Co. (NASDAQ:CACC) Insider Nicholas J. Elliott Sells 300 Shares

Credit Acceptance Co. (NASDAQ:CACC) insider Nicholas J. Elliott sold 300 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $502.00, for a total value of $150,600.00. Following the transaction, the insider now directly owns 19,385 shares of the company’s stock, valued at approximately $9,731,270. The trade was a 1.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Credit Acceptance Trading Up 3.3 %

Shares of NASDAQ:CACC traded up $16.53 during midday trading on Monday, hitting $512.02. 78,057 shares of the stock were exchanged, compared to its average volume of 57,426. The business’s 50-day moving average price is $496.81 and its 200 day moving average price is $472.72. Credit Acceptance Co. has a 12 month low of $409.22 and a 12 month 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 stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 25.78 and a beta of 1.51.

Credit Acceptance (NASDAQ:CACC) last posted its earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, topping analysts’ consensus estimates of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. Analysts predict that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Credit Acceptance

Institutional investors have recently modified their holdings of the business. London Co. of Virginia acquired a new position in Credit Acceptance during the 4th quarter worth about $48,148,000. Crow s Nest Holdings LP acquired a new position in shares of Credit Acceptance in the fourth quarter worth approximately $35,210,000. Abrams Bison Investments LLC grew its stake in Credit Acceptance by 30.5% during the third 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 period. Twin Lions Management LLC acquired a new position in Credit Acceptance in the fourth quarter valued at approximately $21,093,000. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Credit Acceptance during the 4th quarter worth approximately $18,146,000. Institutional investors 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.