Credit Acceptance Co. (NASDAQ:CACC) COO Sells $270,424.80 in Stock

Credit Acceptance Co. (NASDAQ:CACC) COO Jonathan Lum sold 552 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total transaction of $270,424.80. Following the completion of the transaction, the chief operating officer now directly owns 31,493 shares in the company, valued at $15,428,420.70. This trade represents a 1.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Credit Acceptance Price Performance

Credit Acceptance stock opened at $461.19 on Friday. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $616.66. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 30.97 and a beta of 1.46. The firm’s fifty day moving average is $467.28 and its 200 day moving average is $479.28. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, beating analysts’ consensus estimates of $7.88 by $0.91. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The firm had revenue of $550.30 million during the quarter, compared to the consensus estimate of $548.13 million. During the same quarter last year, the firm earned $10.70 EPS. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. Sell-side analysts forecast that Credit Acceptance Co. will post 36.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on CACC shares. Stephens started coverage on shares of Credit Acceptance in a research note on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price target on the stock. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, TD Cowen cut their price target on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a report on Friday, November 1st.

Hedge Funds Weigh In On Credit Acceptance

Institutional investors and hedge funds have recently modified their holdings of the stock. UMB Bank n.a. lifted its position in Credit Acceptance by 4.6% in the second quarter. UMB Bank n.a. now owns 654 shares of the credit services provider’s stock worth $337,000 after buying an additional 29 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Credit Acceptance by 5.7% in the 3rd quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider’s stock worth $263,000 after acquiring an additional 32 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Credit Acceptance during the 2nd quarter worth about $51,000. PDT Partners LLC grew its holdings in Credit Acceptance by 1.9% during the 3rd quarter. PDT Partners LLC now owns 5,458 shares of the credit services provider’s stock valued at $2,420,000 after purchasing an additional 100 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its position in Credit Acceptance by 4.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 2,617 shares of the credit services provider’s stock worth $1,160,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 81.71% of the company’s stock.

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.