Invesco Ltd. Buys 1,715 Shares of Credit Acceptance Corporation $CACC

Invesco Ltd. lifted its stake in shares of Credit Acceptance Corporation (NASDAQ:CACC) by 15.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,574 shares of the credit services provider’s stock after acquiring an additional 1,715 shares during the period. Invesco Ltd. owned 0.11% of Credit Acceptance worth $6,493,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Manhattan West Asset Management LLC increased its stake in Credit Acceptance by 13.1% in the first quarter. Manhattan West Asset Management LLC now owns 1,044 shares of the credit services provider’s stock valued at $539,000 after purchasing an additional 121 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Credit Acceptance during the 1st quarter worth about $128,000. Deutsche Bank AG grew its stake in shares of Credit Acceptance by 135.1% in the 1st quarter. Deutsche Bank AG now owns 3,769 shares of the credit services provider’s stock valued at $1,946,000 after buying an additional 2,166 shares during the period. Alfreton Capital LLP increased its position in Credit Acceptance by 11.8% in the 1st quarter. Alfreton Capital LLP now owns 190,000 shares of the credit services provider’s stock valued at $98,106,000 after buying an additional 20,000 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in Credit Acceptance during the 1st quarter worth approximately $344,000. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Andrew K. Rostami sold 375 shares of the stock in a transaction on 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 $12,873,778.62. This trade represents a 1.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Jill Foss Watson sold 20,000 shares of the stock in a transaction on Wednesday, July 2nd. The stock was 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 owned 102,107 shares in the company, valued at approximately $55,134,716.79. This represents a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,428 shares of company stock worth $16,186,967 in the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Credit Acceptance Stock Up 1.8%

Shares of NASDAQ:CACC opened at $521.71 on Wednesday. The company has a debt-to-equity ratio of 4.16, a quick ratio of 22.03 and a current ratio of 22.03. Credit Acceptance Corporation has a 52-week low of $409.22 and a 52-week high of $560.00. The business’s 50 day simple moving average is $500.38 and its two-hundred day simple moving average is $494.44. The firm has a market cap of $5.86 billion, a P/E ratio of 15.04 and a beta of 1.13.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings data on Thursday, July 31st. The credit services provider reported $8.56 EPS for the quarter, missing the consensus estimate of $9.84 by ($1.28). Credit Acceptance had a net margin of 18.69% and a return on equity of 27.06%. The firm had revenue of $583.80 million for the quarter, compared to the consensus estimate of $583.30 million. During the same quarter in the prior year, the firm earned $10.29 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. As a group, research analysts forecast that Credit Acceptance Corporation will post 53.24 EPS for the current fiscal year.

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.