Credit Acceptance Co. (NASDAQ:CACC) Insider Sells $17,580,067.89 in Stock

Credit Acceptance Co. (NASDAQ:CACCGet Rating) insider Prescott General Partners Llc sold 28,897 shares of the business’s stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $608.37, for a total value of $17,580,067.89. Following the transaction, the insider now directly owns 1,090,732 shares in the company, valued at $663,568,626.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NASDAQ:CACC traded down $25.63 during mid-day trading on Monday, hitting $573.95. 13,136 shares of the company’s stock were exchanged, compared to its average volume of 96,868. The company has a market cap of $7.54 billion, a PE ratio of 9.59 and a beta of 1.22. The company has a debt-to-equity ratio of 2.85, a current ratio of 21.07 and a quick ratio of 39.04. Credit Acceptance Co. has a one year low of $381.93 and a one year high of $703.27. The business has a fifty day moving average price of $543.36 and a 200 day moving average price of $587.41.

Credit Acceptance (NASDAQ:CACCGet Rating) last released its earnings results on Monday, May 2nd. The credit services provider reported $14.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $13.30 by $1.64. Credit Acceptance had a net margin of 52.16% and a return on equity of 44.07%. During the same quarter last year, the business earned $9.64 earnings per share. On average, equities analysts forecast that Credit Acceptance Co. will post 50.7 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley increased its stake in Credit Acceptance by 170.5% during the 2nd quarter. Morgan Stanley now owns 32,274 shares of the credit services provider’s stock valued at $14,656,000 after purchasing an additional 20,342 shares in the last quarter. Deutsche Bank AG increased its position in shares of Credit Acceptance by 47.7% during the third quarter. Deutsche Bank AG now owns 4,955 shares of the credit services provider’s stock valued at $2,900,000 after acquiring an additional 1,601 shares in the last quarter. Truist Financial Corp raised its holdings in Credit Acceptance by 3.5% in the 3rd quarter. Truist Financial Corp now owns 847 shares of the credit services provider’s stock worth $496,000 after acquiring an additional 29 shares during the last quarter. Barclays PLC lifted its position in Credit Acceptance by 166.4% in the 3rd quarter. Barclays PLC now owns 8,889 shares of the credit services provider’s stock valued at $5,203,000 after acquiring an additional 5,552 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Credit Acceptance by 23.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 1,471 shares of the credit services provider’s stock valued at $861,000 after purchasing an additional 277 shares during the last quarter. 65.05% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have issued reports on the stock. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Wednesday, May 4th. BMO Capital Markets boosted their price target on shares of Credit Acceptance from $411.00 to $428.00 and gave the company a “market perform” rating in a research report on Tuesday, February 1st. Credit Suisse Group upped their target price on Credit Acceptance from $440.00 to $460.00 in a report on Tuesday, May 3rd. Finally, Zacks Investment Research upgraded Credit Acceptance from a “sell” rating to a “hold” rating and set a $582.00 target price for the company in a research note on Monday, April 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Credit Acceptance has an average rating of “Hold” and an average target price of $468.80.

Credit Acceptance Company Profile (Get Rating)

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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