Credit Acceptance Co. (NASDAQ:CACC) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in shares of Credit Acceptance Co. (NASDAQ:CACC) by 103,166.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,392 shares of the credit services provider’s stock after acquiring an additional 12,380 shares during the quarter. GAMMA Investing LLC owned about 0.10% of Credit Acceptance worth $6,399,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. acquired a new stake in Credit Acceptance during the 4th quarter worth $34,000. TD Private Client Wealth LLC purchased a new position in Credit Acceptance during the 4th quarter worth $37,000. Farther Finance Advisors LLC purchased a new position in Credit Acceptance during the 4th quarter worth $38,000. Point72 Asia Singapore Pte. Ltd. grew its position in Credit Acceptance by 13,400.0% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 135 shares of the credit services provider’s stock worth $64,000 after purchasing an additional 134 shares during the last quarter. Finally, US Bancorp DE grew its position in Credit Acceptance by 50.4% during the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock worth $84,000 after purchasing an additional 60 shares during the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Credit Acceptance Trading Up 0.2%

Shares of Credit Acceptance stock opened at $506.71 on Tuesday. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $614.96. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. The company has a market capitalization of $5.88 billion, a P/E ratio of 25.51 and a beta of 1.15. The company’s fifty day moving average is $485.41 and its two-hundred day moving average is $488.84.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.31 by ($0.96). Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. The business had revenue of $571.10 million for the quarter, compared to analysts’ expectations of $570.25 million. During the same period in the previous year, the business posted $9.28 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Analysts forecast that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Nicholas J. Elliott sold 300 shares of Credit Acceptance stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $502.00, for a total value of $150,600.00. Following the sale, the insider now owns 19,385 shares of the company’s stock, valued at $9,731,270. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction dated 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 sale, the insider now directly owns 3,112 shares in the company, valued at approximately $1,605,698.64. The trade was a 49.08% decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.

Credit Acceptance 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.