421 Shares in Credit Acceptance Corporation $CACC Bought by EP Wealth Advisors LLC

EP Wealth Advisors LLC purchased a new stake in shares of Credit Acceptance Corporation (NASDAQ:CACC) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 421 shares of the credit services provider’s stock, valued at approximately $217,000.

Several other hedge funds have also recently added to or reduced their stakes in CACC. Beck Mack & Oliver LLC boosted its holdings in shares of Credit Acceptance by 1.0% in the 1st quarter. Beck Mack & Oliver LLC now owns 394,972 shares of the credit services provider’s stock worth $203,944,000 after purchasing an additional 3,734 shares in the last quarter. Alfreton Capital LLP lifted 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 worth $98,106,000 after buying an additional 20,000 shares during the last quarter. Khrom Capital Management LLC purchased a new stake in Credit Acceptance in the first quarter worth approximately $30,639,000. Millennium Management LLC grew its position in Credit Acceptance by 708.8% during the fourth quarter. Millennium Management LLC now owns 43,426 shares of the credit services provider’s stock valued at $20,387,000 after acquiring an additional 38,057 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Credit Acceptance by 1.1% during the first quarter. Northern Trust Corp now owns 38,184 shares of the credit services provider’s stock worth $19,716,000 after acquiring an additional 412 shares in the last quarter. Institutional investors own 81.71% of the company’s stock.

Credit Acceptance Trading Up 1.1%

Shares of CACC opened at $518.74 on Wednesday. Credit Acceptance Corporation has a fifty-two week low of $409.22 and a fifty-two week high of $560.00. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 14.95 and a beta of 1.25. The firm has a 50 day moving average price of $501.92 and a 200-day moving average price of $494.67. 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 (NASDAQ:CACC) last released its earnings results 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). The business had revenue of $583.80 million for the quarter, compared to the consensus estimate of $583.30 million. Credit Acceptance had a net margin of 18.69% and a return on equity of 27.06%. Credit Acceptance’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $10.29 EPS. As a group, equities research analysts forecast that Credit Acceptance Corporation will post 53.24 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Daniel A. Ulatowski sold 2,139 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $509.05, for a total transaction of $1,088,857.95. Following the completion of the sale, the insider directly owned 28,290 shares in the company, valued at $14,401,024.50. This represents a 7.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Andrew K. Rostami sold 375 shares of the firm’s stock in a transaction that occurred 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 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 sold a total of 30,072 shares of company stock valued at $15,943,779 over the last three months. 6.60% of the stock is owned by corporate 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.