Credit Acceptance Corp. (CACC) Insider Sells $8,484,858.69 in Stock

Credit Acceptance Corp. (NASDAQ:CACC) insider Prescott General Partners Llc sold 20,273 shares of the business’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $418.53, for a total value of $8,484,858.69. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Prescott General Partners Llc also recently made the following trade(s):

  • On Friday, August 24th, Prescott General Partners Llc sold 1,300 shares of Credit Acceptance stock. The stock was sold at an average price of $447.56, for a total value of $581,828.00.
  • On Monday, August 27th, Prescott General Partners Llc sold 36,900 shares of Credit Acceptance stock. The stock was sold at an average price of $453.38, for a total value of $16,729,722.00.

Shares of CACC opened at $425.00 on Friday. The stock has a market capitalization of $8.05 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 0.90 and a beta of 0.56. Credit Acceptance Corp. has a fifty-two week low of $278.38 and a fifty-two week high of $467.26. The company has a debt-to-equity ratio of 1.97, a quick ratio of 36.75 and a current ratio of 36.75.

Credit Acceptance (NASDAQ:CACC) last issued its earnings results on Monday, October 29th. The credit services provider reported $7.75 earnings per share for the quarter, beating analysts’ consensus estimates of $6.90 by $0.85. The company had revenue of $332.00 million for the quarter, compared to the consensus estimate of $327.45 million. Credit Acceptance had a return on equity of 28.83% and a net margin of 48.70%. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.43 EPS. On average, sell-side analysts expect that Credit Acceptance Corp. will post 27.08 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. First Hawaiian Bank acquired a new position in shares of Credit Acceptance in the 3rd quarter valued at about $178,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Credit Acceptance by 57.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 616 shares of the credit services provider’s stock worth $218,000 after buying an additional 226 shares during the last quarter. Grandfield & Dodd LLC acquired a new position in Credit Acceptance in the third quarter worth approximately $224,000. Engineers Gate Manager LP acquired a new position in Credit Acceptance in the third quarter worth approximately $251,000. Finally, Financial Architects Inc acquired a new position in Credit Acceptance in the second quarter worth approximately $254,000. Institutional investors own 67.56% of the company’s stock.

Several analysts have issued reports on CACC shares. Oppenheimer set a $420.00 price objective on Credit Acceptance and gave the stock a “buy” rating in a report on Tuesday, October 30th. BidaskClub downgraded Credit Acceptance from a “strong-buy” rating to a “buy” rating in a report on Friday, August 31st. Susquehanna Bancshares upped their target price on Credit Acceptance from $350.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. Compass Point upgraded Credit Acceptance from a “sell” rating to a “neutral” rating in a report on Wednesday, August 1st. Finally, Zacks Investment Research upgraded Credit Acceptance from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a report on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $366.57.

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About Credit Acceptance

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

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Insider Buying and Selling by Quarter for Credit Acceptance (NASDAQ:CACC)

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