Insider Selling: 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 the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total value of $1,547,910.00. Following the sale, the insider now directly owns 3,112 shares in the company, valued at approximately $1,605,698.64. The trade was a 49.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Credit Acceptance Trading Up 0.4 %

Credit Acceptance stock opened at $513.13 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. The stock has a market cap of $6.17 billion, a PE ratio of 25.84 and a beta of 1.51. The stock has a 50-day moving average of $500.90 and a two-hundred day moving average of $474.99. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $614.96.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, beating the consensus estimate of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. On average, research analysts anticipate that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Institutional Trading of Credit Acceptance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. acquired a new stake in shares of Credit Acceptance during the fourth quarter worth about $206,000. Ascent Group LLC raised its position in Credit Acceptance by 6.8% during the 4th quarter. Ascent Group LLC now owns 6,612 shares of the credit services provider’s stock worth $3,104,000 after buying an additional 423 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Credit Acceptance during the 4th quarter valued at approximately $297,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Credit Acceptance by 8.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,986 shares of the credit services provider’s stock valued at $10,791,000 after acquiring an additional 1,770 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its stake in shares of Credit Acceptance by 16.1% in the fourth quarter. Voloridge Investment Management LLC now owns 22,032 shares of the credit services provider’s stock worth $10,343,000 after acquiring an additional 3,052 shares during the period. Institutional investors and hedge funds own 81.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CACC shares. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Stephens lifted 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.

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.