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 stock was sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at $1,605,698.64. This represents a 49.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Credit Acceptance Price Performance

CACC stock opened at $513.13 on Friday. The firm has a market cap of $6.17 billion, a P/E ratio of 25.84 and a beta of 1.51. The firm’s fifty day moving average is $500.90 and its 200 day moving average is $474.63. 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.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Credit Acceptance

Hedge funds and other institutional investors have recently bought and sold shares of the stock. London Co. of Virginia purchased a new position in shares of Credit Acceptance in the fourth quarter worth $48,148,000. Crow s Nest Holdings LP bought a new stake in Credit Acceptance in the 4th quarter worth $35,210,000. Abrams Bison Investments LLC increased its position in shares of Credit Acceptance by 30.5% in the third quarter. Abrams Bison Investments LLC now owns 228,306 shares of the credit services provider’s stock valued at $101,235,000 after acquiring an additional 53,306 shares during the period. Twin Lions Management LLC bought a new position in shares of Credit Acceptance during the fourth quarter valued at about $21,093,000. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Credit Acceptance during the fourth quarter worth about $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.