Credit Acceptance Co. (NASDAQ:CACC - Get Free Report) insider Douglas W. Busk sold 3,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the completion of the sale, the insider now directly owns 3,112 shares of the company's stock, valued at approximately $1,605,698.64. This trade represents a 49.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Credit Acceptance Stock Performance
Shares of NASDAQ:CACC traded up $3.22 on Monday, reaching $516.35. The company's stock had a trading volume of 85,854 shares, compared to its average volume of 58,997. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $614.96. The stock's 50-day moving average is $501.53 and its two-hundred day moving average is $476.04. The stock has a market capitalization of $6.21 billion, a P/E ratio of 26.00 and a beta of 1.51.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, beating the consensus estimate of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. As a group, sell-side analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current year.
Institutional Investors Weigh In On Credit Acceptance
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Credit Acceptance by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 486,828 shares of the credit services provider's stock valued at $228,546,000 after buying an additional 5,134 shares in the last quarter. Beck Mack & Oliver LLC lifted its holdings in Credit Acceptance by 1.6% in the fourth quarter. Beck Mack & Oliver LLC now owns 391,238 shares of the credit services provider's stock valued at $183,671,000 after acquiring an additional 6,214 shares during the period. Abrams Bison Investments LLC boosted its position in shares of Credit Acceptance by 30.5% during the 3rd quarter. Abrams Bison Investments LLC now owns 228,306 shares of the credit services provider's stock worth $101,235,000 after purchasing an additional 53,306 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Credit Acceptance by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 183,203 shares of the credit services provider's stock worth $86,004,000 after purchasing an additional 1,318 shares during the period. Finally, MIG Capital LLC increased its holdings in shares of Credit Acceptance by 8.6% in the 4th quarter. MIG Capital LLC now owns 126,467 shares of the credit services provider's stock valued at $59,371,000 after purchasing an additional 9,976 shares in the last quarter. Hedge funds and other institutional investors own 81.71% of the company's stock.
Analysts Set New Price Targets
CACC has been the subject of a number of research analyst reports. StockNews.com raised Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Stephens increased their price objective on Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a report on Friday, January 31st.
View Our Latest Report on CACC
Credit Acceptance Company Profile
(
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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.
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