Credit Acceptance Co. (NASDAQ:CACC) COO Jonathan Lum Sells 552 Shares

Credit Acceptance Co. (NASDAQ:CACC) COO Jonathan Lum sold 552 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total value of $270,424.80. Following the completion of the sale, the chief operating officer now owns 31,493 shares in the company, valued at approximately $15,428,420.70. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Credit Acceptance Stock Down 1.7 %

Shares of NASDAQ:CACC traded down $7.88 during trading on Thursday, hitting $460.99. 60,691 shares of the company were exchanged, compared to its average volume of 59,874. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $616.66. The stock has a market capitalization of $5.58 billion, a P/E ratio of 30.96 and a beta of 1.46. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. The firm’s 50 day moving average price is $467.07 and its 200-day moving average price is $479.64.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, topping analysts’ consensus estimates of $7.88 by $0.91. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The company had revenue of $550.30 million during the quarter, compared to analysts’ expectations of $548.13 million. During the same period last year, the firm earned $10.70 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, research analysts predict that Credit Acceptance Co. will post 36.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Credit Acceptance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new position in shares of Credit Acceptance during the second quarter valued at approximately $51,000. Quest Partners LLC increased its stake in Credit Acceptance by 11,900.0% during the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after acquiring an additional 119 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Credit Acceptance during the third quarter valued at approximately $177,000. Kovitz Investment Group Partners LLC acquired a new position in shares of Credit Acceptance during the 3rd quarter valued at $245,000. Finally, Headlands Technologies LLC boosted its position in Credit Acceptance by 24,850.0% during the 2nd quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock worth $257,000 after purchasing an additional 497 shares during the period. Institutional investors and hedge funds own 81.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. TD Cowen cut their price target on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. Finally, Stephens started coverage on Credit Acceptance in a research report on Wednesday, November 13th. They set an “equal weight” rating and a $452.00 price objective for the company.

About Credit Acceptance

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.