Credit Acceptance Corporation (NASDAQ:CACC) Shares Bought by US Bancorp DE

US Bancorp DE grew its holdings in shares of Credit Acceptance Corporation (NASDAQ:CACC) by 35.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 243 shares of the credit services provider’s stock after purchasing an additional 64 shares during the period. US Bancorp DE’s holdings in Credit Acceptance were worth $125,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sierra Ocean LLC acquired a new position in shares of Credit Acceptance during the first quarter valued at $26,000. CX Institutional acquired a new position in shares of Credit Acceptance during the first quarter valued at $36,000. Harbor Capital Advisors Inc. acquired a new position in shares of Credit Acceptance during the first quarter valued at $49,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of 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 valued at $64,000 after purchasing an additional 134 shares during the period. Finally, CWM LLC increased its holdings in shares of Credit Acceptance by 206.3% during the first quarter. CWM LLC now owns 193 shares of the credit services provider’s stock valued at $100,000 after purchasing an additional 130 shares during the period. 81.71% of the stock is owned by institutional investors and hedge funds.

Credit Acceptance Price Performance

NASDAQ:CACC opened at $474.74 on Friday. The business’s 50-day moving average price is $501.49 and its 200 day moving average price is $495.44. The firm has a market cap of $5.34 billion, a P/E ratio of 13.69 and a beta of 1.13. Credit Acceptance Corporation has a 52-week low of $409.22 and a 52-week high of $560.00. The company has a quick ratio of 22.03, a current ratio of 22.03 and a debt-to-equity ratio of 4.16.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Thursday, July 31st. The credit services provider reported $8.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.84 by ($1.28). The firm had revenue of $583.80 million for the quarter, compared to analyst estimates of $583.30 million. Credit Acceptance had a return on equity of 27.06% and a net margin of 18.69%. Credit Acceptance’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $10.29 earnings per share. As a group, sell-side analysts predict that Credit Acceptance Corporation will post 53.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Jill Foss Watson sold 20,000 shares of Credit Acceptance stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $539.97, for a total transaction of $10,799,400.00. Following the transaction, the insider directly owned 102,107 shares of the company’s stock, valued at $55,134,716.79. The trade was a 16.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew K. Rostami sold 375 shares of Credit Acceptance stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $505.29, for a total value of $189,483.75. Following the transaction, the insider directly owned 25,478 shares in the company, valued at approximately $12,873,778.62. The trade was a 1.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,731 shares of company stock valued at $14,307,733 over the last three months. Company insiders own 6.60% of the company’s stock.

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.