Insider Selling: Credit Acceptance Corp. CEO Sells 5,000 Shares of Stock (CACC)
Credit Acceptance Corp. (NASDAQ:CACC) CEO Brett A. Roberts unloaded 5,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $123.10, for a total value of $615,500.00. Following the completion of the transaction, the chief executive officer now directly owns 256,358 shares of the company’s stock, valued at approximately $31,557,670. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Jefferies Group initiated coverage on shares of Credit Acceptance Corp. in a research note on Thursday. They set a “hold” rating on the stock. Separately, analysts at Bank of America downgraded shares of Credit Acceptance Corp. to an “underperform” rating in a research note on Thursday, August 28th. Finally, analysts at Compass Point initiated coverage on shares of Credit Acceptance Corp. in a research note on Tuesday, July 8th. They set a “sell” rating and a $104.00 price target on the stock. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $129.67.
Credit Acceptance Corp. (NASDAQ:CACC) traded down 0.30% on Thursday, hitting $123.24. 60,594 shares of the company’s stock traded hands. Credit Acceptance Corp. has a 52 week low of $107.10 and a 52 week high of $150.89. The stock’s 50-day moving average is $121.2 and its 200-day moving average is $130.3. The company has a market cap of $2.792 billion and a P/E ratio of 11.60.
Credit Acceptance Corp. (NASDAQ:CACC) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $2.98 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.90 by $0.08. The company had revenue of $179.80 million for the quarter, compared to the consensus estimate of $181.37 million. During the same quarter last year, the company posted $2.56 earnings per share. On average, analysts predict that Credit Acceptance Corp. will post $11.92 earnings per share for the current fiscal year.
Credit Acceptance Corporation (NASDAQ:CACC) is a provider of auto loans to consumers.
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