Insider Selling: Credit Acceptance (NASDAQ:CACC) Insider Sells 5,236 Shares of Stock

Credit Acceptance Corporation (NASDAQ:CACC) insider Wendy Rummler sold 5,236 shares of the business’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $493.44, for a total transaction of $2,583,651.84. Following the completion of the transaction, the insider owned 20,772 shares of the company’s stock, valued at approximately $10,249,735.68. This trade represents a 20.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Credit Acceptance Trading Down 3.0%

NASDAQ:CACC opened at $495.97 on Wednesday. The firm has a market cap of $5.47 billion, a PE ratio of 13.59 and a beta of 1.27. The stock has a fifty day moving average price of $461.58 and a 200 day moving average price of $474.49. Credit Acceptance Corporation has a 12-month low of $401.90 and a 12-month high of $549.75. The company has a current ratio of 15.81, a quick ratio of 15.81 and a debt-to-equity ratio of 3.94.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings results on Thursday, January 29th. The credit services provider reported $11.35 earnings per share for the quarter, topping the consensus estimate of $10.30 by $1.05. The company had revenue of $408.20 million for the quarter, compared to the consensus estimate of $582.63 million. Credit Acceptance had a return on equity of 28.46% and a net margin of 18.29%.Credit Acceptance’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.17 EPS. Sell-side analysts anticipate that Credit Acceptance Corporation will post 53.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on CACC shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Credit Acceptance in a report on Wednesday, January 21st. TD Cowen boosted their target price on shares of Credit Acceptance from $460.00 to $470.00 and gave the stock a “hold” rating in a research note on Friday. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Credit Acceptance has an average rating of “Hold” and a consensus target price of $470.00.

Hedge Funds Weigh In On Credit Acceptance

Hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its position in shares of Credit Acceptance by 3.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 8,698 shares of the credit services provider’s stock valued at $3,857,000 after purchasing an additional 256 shares during the period. M&T Bank Corp purchased a new stake in Credit Acceptance in the fourth quarter valued at approximately $451,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Credit Acceptance by 764.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 203,879 shares of the credit services provider’s stock valued at $91,652,000 after acquiring an additional 180,304 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Credit Acceptance during the fourth quarter worth approximately $462,000. Finally, Lodestone Wealth Management LLC raised its position in Credit Acceptance by 10.1% in the 4th quarter. Lodestone Wealth Management LLC now owns 1,356 shares of the credit services provider’s stock valued at $601,000 after purchasing an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Credit Acceptance Company Profile

Credit Acceptance Corporation, founded in 1972 and headquartered in Southfield, Michigan, is a specialty finance company focused on the indirect automotive lending market. The company partners with independent and franchised auto dealers to facilitate purchase financing for consumers who may not qualify for traditional prime auto loans. By purchasing retail installment contracts originated by these dealers, Credit Acceptance provides capital and credit insurance to support vehicle sales, enabling dealers to broaden their customer base and reduce credit risk.

Through its proprietary underwriting platform and risk management strategies, Credit Acceptance evaluates borrower applications, structures credit plans, and retains servicing rights on the acquired contracts.