Credit Acceptance Co. (NASDAQ:CACC – Get Rating) – Stock analysts at Zacks Research decreased their Q2 2023 earnings per share estimates for shares of Credit Acceptance in a note issued to investors on Monday, May 15th. Zacks Research analyst N. Kataruka now expects that the credit services provider will post earnings per share of $12.07 for the quarter, down from their prior estimate of $13.39. The consensus estimate for Credit Acceptance’s current full-year earnings is $50.39 per share. Zacks Research also issued estimates for Credit Acceptance’s Q3 2023 earnings at $9.92 EPS, Q4 2023 earnings at $11.56 EPS, FY2023 earnings at $43.26 EPS, Q1 2024 earnings at $10.77 EPS, Q2 2024 earnings at $12.10 EPS, Q3 2024 earnings at $12.52 EPS, Q4 2024 earnings at $13.36 EPS, FY2024 earnings at $48.75 EPS, Q1 2025 earnings at $14.55 EPS and FY2025 earnings at $65.72 EPS.
Credit Acceptance (NASDAQ:CACC – Get Rating) last posted its quarterly earnings results on Monday, May 1st. The credit services provider reported $9.71 EPS for the quarter, missing the consensus estimate of $12.27 by ($2.56). Credit Acceptance had a return on equity of 40.26% and a net margin of 23.00%. The business had revenue of $453.80 million for the quarter, compared to analysts’ expectations of $458.12 million. During the same period last year, the business posted $13.76 earnings per share. The company’s revenue was down .4% compared to the same quarter last year.
Credit Acceptance Price Performance
Shares of NASDAQ:CACC opened at $437.80 on Thursday. The company’s fifty day moving average is $441.56 and its 200 day moving average is $451.69. The company has a quick ratio of 17.48, a current ratio of 17.48 and a debt-to-equity ratio of 2.65. Credit Acceptance has a 52 week low of $358.00 and a 52 week high of $617.44. The stock has a market cap of $5.62 billion, a PE ratio of 13.85 and a beta of 1.32.
Insider Activity at Credit Acceptance
In other Credit Acceptance news, insider Thomas W. Smith sold 500 shares of the stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $450.12, for a total value of $225,060.00. Following the completion of the sale, the insider now owns 76,050 shares in the company, valued at approximately $34,231,626. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Andrew K. Rostami sold 461 shares of the business’s stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $500.00, for a total transaction of $230,500.00. Following the transaction, the insider now owns 7,115 shares in the company, valued at $3,557,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas W. Smith sold 500 shares of the stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $450.12, for a total transaction of $225,060.00. Following the completion of the transaction, the insider now directly owns 76,050 shares of the company’s stock, valued at $34,231,626. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in CACC. Cerity Partners LLC purchased a new stake in Credit Acceptance in the first quarter worth $386,743,000. Gobi Capital LLC lifted its position in Credit Acceptance by 3.0% during the 1st quarter. Gobi Capital LLC now owns 535,116 shares of the credit services provider’s stock valued at $233,332,000 after acquiring an additional 15,502 shares during the period. Beck Mack & Oliver LLC lifted its position in Credit Acceptance by 0.8% during the 1st quarter. Beck Mack & Oliver LLC now owns 324,373 shares of the credit services provider’s stock valued at $141,440,000 after acquiring an additional 2,562 shares during the period. BlackRock Inc. boosted its stake in Credit Acceptance by 1.1% during the first quarter. BlackRock Inc. now owns 272,157 shares of the credit services provider’s stock worth $118,671,000 after acquiring an additional 3,018 shares in the last quarter. Finally, Smead Capital Management Inc. grew its holdings in Credit Acceptance by 2.5% in the first quarter. Smead Capital Management Inc. now owns 189,396 shares of the credit services provider’s stock worth $82,584,000 after purchasing an additional 4,652 shares during the period. Hedge funds and other institutional investors own 63.11% of the company’s stock.
Credit Acceptance Company Profile
Credit Acceptance Corp. engages in the provision of dealer financing programs that enables automobile dealers to sell vehicles to consumers, regardless of its credit history. Its financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers.
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