Credit Acceptance Co. (NASDAQ:CACC) COO Jonathan Lum Sells 552 Shares

Credit Acceptance Co. (NASDAQ:CACC - Get Free Report) COO Jonathan Lum sold 552 shares of the firm's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total transaction of $270,424.80. Following the transaction, the chief operating officer now directly owns 31,493 shares of the company's stock, valued at approximately $15,428,420.70. This trade represents a 1.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Credit Acceptance Price Performance

Shares of NASDAQ:CACC traded down $7.88 during midday trading on Thursday, reaching $460.99. 60,691 shares of the company's stock traded hands, compared to its average volume of 59,961. The company has a market cap of $5.58 billion, a P/E ratio of 30.96 and a beta of 1.46. The company has a fifty day simple moving average of $467.07 and a two-hundred day simple moving average of $479.64. The company has a debt-to-equity ratio of 3.79, a quick ratio of 23.63 and a current ratio of 23.63. Credit Acceptance Co. has a 1 year low of $409.22 and a 1 year high of $616.66.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, topping analysts' consensus estimates of $7.88 by $0.91. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The business had revenue of $550.30 million during the quarter, compared to analysts' expectations of $548.13 million. During the same quarter in the previous year, the company earned $10.70 earnings per share. The company's quarterly revenue was up 15.0% on a year-over-year basis. Equities analysts predict that Credit Acceptance Co. will post 36.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CACC has been the subject of several recent research reports. TD Cowen reduced their price target on Credit Acceptance from $400.00 to $380.00 and set a "sell" rating for the company in a research report on Friday, November 1st. StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. Finally, Stephens began coverage on shares of Credit Acceptance in a research note on Wednesday, November 13th. They set an "equal weight" rating and a $452.00 target price on the stock.

Institutional Trading of Credit Acceptance

Several large investors have recently made changes to their positions in CACC. Oddo BHF Asset Management Sas purchased a new stake in shares of Credit Acceptance during the third quarter worth $3,020,000. Geode Capital Management LLC grew its position in shares of Credit Acceptance by 2.3% in the third quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider's stock valued at $49,401,000 after purchasing an additional 2,522 shares in the last quarter. Barclays PLC increased its holdings in shares of Credit Acceptance by 85.8% in the third quarter. Barclays PLC now owns 5,241 shares of the credit services provider's stock valued at $2,324,000 after purchasing an additional 2,420 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Credit Acceptance in the 3rd quarter worth $245,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Credit Acceptance by 11.4% during the 3rd quarter. Janus Henderson Group PLC now owns 3,340 shares of the credit services provider's stock worth $1,481,000 after acquiring an additional 343 shares during the period. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

About Credit Acceptance

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.