Prescott General Partners Llc Sells 9,500 Shares of Credit Acceptance Corp. (NASDAQ:CACC) Stock

Credit Acceptance Corp. (NASDAQ:CACC) insider Prescott General Partners Llc sold 9,500 shares of Credit Acceptance stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $434.64, for a total transaction of $4,129,080.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

  • On Monday, January 6th, Prescott General Partners Llc sold 10,000 shares of Credit Acceptance stock. The shares were sold at an average price of $434.63, for a total transaction of $4,346,300.00.
  • On Thursday, January 2nd, Prescott General Partners Llc sold 10,000 shares of Credit Acceptance stock. The shares were sold at an average price of $441.62, for a total transaction of $4,416,200.00.

Shares of CACC traded up $2.77 during midday trading on Friday, reaching $435.63. The stock had a trading volume of 163,395 shares, compared to its average volume of 143,445. The firm has a 50 day simple moving average of $437.05 and a 200-day simple moving average of $456.73. Credit Acceptance Corp. has a one year low of $385.36 and a one year high of $509.99. The firm has a market cap of $8.19 billion, a PE ratio of 15.34, a P/E/G ratio of 1.85 and a beta of 0.67. The company has a current ratio of 29.49, a quick ratio of 29.49 and a debt-to-equity ratio of 1.75.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Friday, November 1st. The credit services provider reported $8.89 EPS for the quarter, beating analysts’ consensus estimates of $8.86 by $0.03. Credit Acceptance had a net margin of 44.69% and a return on equity of 29.54%. The company had revenue of $378.70 million during the quarter, compared to the consensus estimate of $380.69 million. During the same quarter last year, the firm posted $7.56 EPS. The company’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, research analysts forecast that Credit Acceptance Corp. will post 34.69 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nachman Norwood & Parrott Inc bought a new position in shares of Credit Acceptance in the 4th quarter valued at about $232,000. Lansing Management LP grew its position in shares of Credit Acceptance by 1.1% in the 3rd quarter. Lansing Management LP now owns 19,000 shares of the credit services provider’s stock valued at $8,765,000 after acquiring an additional 200 shares during the period. Man Group plc grew its position in shares of Credit Acceptance by 16.8% in the 3rd quarter. Man Group plc now owns 1,853 shares of the credit services provider’s stock valued at $855,000 after acquiring an additional 267 shares during the period. Barclays PLC grew its position in shares of Credit Acceptance by 17.0% in the 3rd quarter. Barclays PLC now owns 12,249 shares of the credit services provider’s stock valued at $5,650,000 after acquiring an additional 1,776 shares during the period. Finally, California State Teachers Retirement System grew its position in shares of Credit Acceptance by 1.1% in the 3rd quarter. California State Teachers Retirement System now owns 16,824 shares of the credit services provider’s stock valued at $7,761,000 after acquiring an additional 184 shares during the period. 59.63% of the stock is owned by institutional investors.

Several brokerages have issued reports on CACC. ValuEngine upgraded shares of Credit Acceptance from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. BidaskClub lowered shares of Credit Acceptance from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 30th. BMO Capital Markets lowered their price target on shares of Credit Acceptance to $472.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 5th. Credit Suisse Group lifted their price target on shares of Credit Acceptance from $380.00 to $390.00 and gave the company an “underperform” rating in a research note on Thursday, November 14th. Finally, Stephens upgraded shares of Credit Acceptance from an “underweight” rating to an “equal weight” rating in a research note on Friday, January 3rd. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Credit Acceptance has an average rating of “Hold” and an average target price of $444.17.

Credit Acceptance Company Profile

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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