Wendy A. Rummler Sells 1,834 Shares of Credit Acceptance Co. (NASDAQ:CACC) Stock

Credit Acceptance Co. (NASDAQ:CACC) insider Wendy A. Rummler sold 1,834 shares of the stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $430.12, for a total value of $788,840.08. Following the completion of the transaction, the insider now owns 20,772 shares in the company, valued at approximately $8,934,452.64. The trade was a 8.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Credit Acceptance Price Performance

Shares of NASDAQ:CACC traded down $5.85 during trading on Thursday, hitting $471.57. 43,617 shares of the stock were exchanged, compared to its average volume of 59,646. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $616.66. The company has a market cap of $5.71 billion, a PE ratio of 32.06 and a beta of 1.46. The company has a fifty day moving average price of $457.91 and a two-hundred day moving average price of $479.47. The company has a current ratio of 23.63, a quick ratio of 23.63 and a debt-to-equity ratio of 3.79.

Credit Acceptance (NASDAQ:CACC) last announced its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, topping 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 company had revenue of $550.30 million during the quarter, compared to analysts’ expectations of $548.13 million. During the same quarter in the previous year, the business posted $10.70 earnings per share. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, analysts forecast that Credit Acceptance Co. will post 36.54 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Credit Acceptance

Several hedge funds have recently bought and sold shares of CACC. Diversified Trust Co purchased a new position in shares of Credit Acceptance during the second quarter valued at approximately $618,000. Renaissance Technologies LLC boosted its holdings in shares of Credit Acceptance by 38.6% during the second quarter. Renaissance Technologies LLC now owns 7,900 shares of the credit services provider’s stock worth $4,066,000 after purchasing an additional 2,200 shares during the last quarter. Smead Capital Management Inc. grew its position in shares of Credit Acceptance by 3.5% in the third quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider’s stock valued at $92,155,000 after purchasing an additional 7,012 shares during the period. Ascent Group LLC lifted its position in Credit Acceptance by 12.2% during the second quarter. Ascent Group LLC now owns 5,602 shares of the credit services provider’s stock worth $2,883,000 after buying an additional 611 shares during the period. Finally, Rhumbline Advisers boosted its stake in Credit Acceptance by 10.1% in the 2nd quarter. Rhumbline Advisers now owns 9,235 shares of the credit services provider’s stock worth $4,753,000 after buying an additional 844 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 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.