Douglas W. Busk Sells 3,000 Shares of Credit Acceptance Co. (NASDAQ:CACC) Stock

Credit Acceptance Co. (NASDAQ:CACC) insider Douglas W. Busk sold 3,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the completion of the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at $1,605,698.64. This trade represents a 49.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Credit Acceptance Stock Up 0.1 %

Shares of CACC stock traded up $0.55 on Thursday, hitting $510.96. 107,782 shares of the stock were exchanged, compared to its average volume of 57,965. The business has a 50-day moving average of $499.76 and a 200 day moving average of $473.92. Credit Acceptance Co. has a fifty-two week low of $409.22 and a fifty-two week high of $614.96. The firm has a market capitalization of $6.15 billion, a P/E ratio of 25.73 and a beta of 1.51. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63.

Credit Acceptance (NASDAQ:CACC) last posted 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 net margin of 11.46% and a return on equity of 29.01%. Equities analysts anticipate that Credit Acceptance Co. will post 53.24 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Credit Acceptance

A number of hedge funds and other institutional investors have recently modified their holdings of CACC. Vanguard Group Inc. grew its stake in Credit Acceptance by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 486,828 shares of the credit services provider’s stock valued at $228,546,000 after purchasing an additional 5,134 shares in the last quarter. Beck Mack & Oliver LLC boosted its holdings in shares of Credit Acceptance by 1.6% in the 4th quarter. Beck Mack & Oliver LLC now owns 391,238 shares of the credit services provider’s stock valued at $183,671,000 after buying an additional 6,214 shares during the last quarter. Abrams Bison Investments LLC grew its stake 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 buying an additional 53,306 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Credit Acceptance by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 183,203 shares of the credit services provider’s stock worth $86,004,000 after buying an additional 1,318 shares during the last quarter. Finally, MIG Capital LLC raised its position in Credit Acceptance by 8.6% during the fourth quarter. MIG Capital LLC now owns 126,467 shares of the credit services provider’s stock worth $59,371,000 after acquiring an additional 9,976 shares in the last quarter. Institutional investors and hedge funds 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.