Teacher Retirement System of Texas Invests $794,000 in Credit Acceptance Corporation (NASDAQ:CACC)

Teacher Retirement System of Texas acquired a new stake in Credit Acceptance Corporation (NASDAQ:CACC) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,538 shares of the credit services provider’s stock, valued at approximately $794,000.

A number of other institutional investors also recently made changes to their positions in CACC. US Bancorp DE boosted its stake in shares of Credit Acceptance by 50.4% in the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock valued at $84,000 after purchasing an additional 60 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Credit Acceptance by 67.6% in the 4th quarter. HighTower Advisors LLC now owns 997 shares of the credit services provider’s stock valued at $468,000 after purchasing an additional 402 shares in the last quarter. Farther Finance Advisors LLC purchased a new stake in shares of Credit Acceptance in the 4th quarter valued at $38,000. Swiss National Bank boosted its stake in shares of Credit Acceptance by 0.8% in the 4th quarter. Swiss National Bank now owns 13,077 shares of the credit services provider’s stock valued at $6,139,000 after purchasing an additional 100 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Credit Acceptance in the 4th quarter valued at $566,000. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Credit Acceptance Trading Down 0.2%

Shares of CACC opened at $514.22 on Tuesday. The stock has a market capitalization of $5.97 billion, a P/E ratio of 21.94 and a beta of 1.15. The company has a quick ratio of 17.64, a current ratio of 17.64 and a debt-to-equity ratio of 3.92. The firm has a fifty day simple moving average of $501.32 and a two-hundred day simple moving average of $494.00. Credit Acceptance Corporation has a twelve month low of $409.22 and a twelve month high of $614.96.

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 the consensus estimate of $10.31 by ($0.96). Credit Acceptance had a net margin of 13.03% and a return on equity of 28.60%. The firm 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 company earned $9.28 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. On average, research analysts anticipate that Credit Acceptance Corporation will post 53.24 EPS for the current year.

Insider Transactions at Credit Acceptance

In related news, major shareholder Jill Foss Watson sold 20,000 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $539.97, for a total value of $10,799,400.00. Following the completion of the transaction, the insider directly owned 102,107 shares in the company, valued at $55,134,716.79. This trade represents a 16.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel A. Ulatowski sold 6,356 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $522.16, for a total transaction of $3,318,848.96. Following the completion of the transaction, the insider owned 28,290 shares of the company’s stock, valued at approximately $14,771,906.40. The trade was a 18.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,731 shares of company stock valued at $14,307,733. Company insiders own 5.30% of the company’s stock.

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.