Insider Selling: Credit Acceptance Co. (NASDAQ:CACC) Insider Sells 300 Shares of Stock

Credit Acceptance Co. (NASDAQ:CACC - Get Free Report) insider Nicholas J. Elliott sold 300 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $502.00, for a total transaction of $150,600.00. Following the completion of the sale, the insider now directly owns 19,385 shares in the company, valued at $9,731,270. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Credit Acceptance Stock Performance

NASDAQ:CACC traded up $1.50 during mid-day trading on Friday, hitting $512.46. 74,862 shares of the stock were exchanged, compared to its average volume of 58,921. The firm's 50-day simple moving average is $500.34 and its 200 day simple moving average is $474.17. Credit Acceptance Co. has a fifty-two week low of $409.22 and a fifty-two week high of $614.96. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 25.80 and a beta of 1.51. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its earnings results on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, topping 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, equities analysts anticipate that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

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Hedge Funds Weigh In On Credit Acceptance

Several institutional investors have recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC purchased a new position in shares of Credit Acceptance during the fourth quarter worth about $28,000. First Horizon Advisors Inc. bought a new stake in shares of Credit Acceptance during the 4th quarter valued at about $34,000. TD Private Client Wealth LLC bought a new stake in Credit Acceptance during the 4th quarter valued at approximately $37,000. Farther Finance Advisors LLC purchased a new stake in Credit Acceptance in the fourth quarter worth $38,000. Finally, Quest Partners LLC boosted its holdings in shares of Credit Acceptance by 11,900.0% during the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider's stock valued at $53,000 after buying an additional 119 shares in the last quarter. Institutional investors own 81.71% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CACC. Stephens increased their target price on Credit Acceptance from $452.00 to $500.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. StockNews.com raised shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Friday, January 31st.

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.