Credit Acceptance Corporation (NASDAQ:CACC) Shares Sold by KBC Group NV

KBC Group NV reduced its position in shares of Credit Acceptance Corporation (NASDAQ:CACC) by 94.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 342 shares of the credit services provider’s stock after selling 6,319 shares during the period. KBC Group NV’s holdings in Credit Acceptance were worth $177,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CACC. CX Institutional acquired a new stake in shares of Credit Acceptance during the 1st quarter worth about $36,000. TD Private Client Wealth LLC acquired a new stake in shares of Credit Acceptance in the fourth quarter worth approximately $37,000. Farther Finance Advisors LLC purchased a new stake in Credit Acceptance in the fourth quarter valued at approximately $38,000. Harbor Capital Advisors Inc. acquired a new position in Credit Acceptance during the first quarter worth approximately $49,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in Credit Acceptance by 13,400.0% during the fourth 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 period. 81.71% of the stock is owned by institutional investors and hedge funds.

Credit Acceptance Stock Down 3.0%

Shares of CACC opened at $527.69 on Monday. The firm has a market cap of $6.12 billion, a PE ratio of 22.51 and a beta of 1.15. The company’s fifty day moving average is $497.24 and its two-hundred day moving average is $491.96. Credit Acceptance Corporation has a fifty-two week low of $409.22 and a fifty-two week high of $614.96. The company has a quick ratio of 17.64, a current ratio of 17.64 and a debt-to-equity ratio of 3.92.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share for the quarter, missing analysts’ consensus estimates of $10.31 by ($0.96). The company had revenue of $571.10 million during the quarter, compared to analyst estimates of $570.25 million. Credit Acceptance had a net margin of 13.03% and a return on equity of 28.60%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter last year, the business earned $9.28 EPS. Analysts forecast that Credit Acceptance Corporation will post 53.24 earnings per share for the current year.

Insiders Place Their Bets

In other Credit Acceptance news, insider Daniel A. Ulatowski sold 6,356 shares of Credit Acceptance stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $522.16, for a total value of $3,318,848.96. Following the transaction, the insider owned 28,290 shares in the company, valued at $14,771,906.40. This trade represents a 18.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew K. Rostami sold 375 shares of Credit Acceptance stock in a transaction on Friday, June 20th. The shares were sold at an average price of $505.29, for a total transaction of $189,483.75. Following the completion of the transaction, the insider owned 25,478 shares in the company, valued at approximately $12,873,778.62. This trade represents a 1.45% decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

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.