Credit Acceptance Corporation (NASDAQ:CACC) Insider Daniel A. Ulatowski Sells 6,356 Shares

Credit Acceptance Corporation (NASDAQ:CACC) insider Daniel A. Ulatowski sold 6,356 shares of Credit Acceptance stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $522.16, for a total value of $3,318,848.96. Following the completion of the transaction, the insider now owns 28,290 shares of the company’s stock, valued at approximately $14,771,906.40. The trade was a 18.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Credit Acceptance Trading Up 0.8%

NASDAQ:CACC opened at $503.99 on Friday. Credit Acceptance Corporation has a 12-month low of $409.22 and a 12-month high of $614.96. The firm has a market capitalization of $5.85 billion, a P/E ratio of 21.50 and a beta of 1.15. The company has a debt-to-equity ratio of 3.92, a current ratio of 17.64 and a quick ratio of 17.64. The business has a 50 day simple moving average of $488.50 and a 200 day simple moving average of $489.50.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.31 by ($0.96). Credit Acceptance had a net margin of 13.03% and a return on equity of 28.60%. The company had revenue of $571.10 million for the quarter, compared to analyst estimates of $570.25 million. During the same quarter in the prior year, the firm earned $9.28 EPS. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities research analysts predict that Credit Acceptance Corporation will post 53.24 EPS for the current year.

Hedge Funds Weigh In On Credit Acceptance

Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers boosted its stake in Credit Acceptance by 0.8% during the 1st quarter. Rhumbline Advisers now owns 9,122 shares of the credit services provider’s stock valued at $4,710,000 after purchasing an additional 70 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Credit Acceptance during the first quarter worth approximately $225,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Credit Acceptance by 3.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 23,886 shares of the credit services provider’s stock worth $12,334,000 after buying an additional 900 shares during the period. Ascent Group LLC boosted its position in shares of Credit Acceptance by 13.0% during the first quarter. Ascent Group LLC now owns 7,472 shares of the credit services provider’s stock worth $3,858,000 after buying an additional 860 shares during the period. Finally, Aristeia Capital L.L.C. acquired a new position in shares of Credit Acceptance during the first quarter worth approximately $281,000. Institutional investors and hedge funds own 81.71% of the company’s stock.

Credit Acceptance Company Profile

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.