Credit Acceptance Corp. (CACC) Major Shareholder Sells $7,002,113.02 in Stock

Credit Acceptance Corp. (NASDAQ:CACC) major shareholder Jill Foss Watson sold 35,086 shares of the company’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $199.57, for a total value of $7,002,113.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Jill Foss Watson also recently made the following trade(s):

  • On Thursday, March 16th, Jill Foss Watson sold 20,878 shares of Credit Acceptance Corp. stock. The stock was sold at an average price of $203.91, for a total value of $4,257,232.98.
  • On Monday, March 13th, Jill Foss Watson sold 18,043 shares of Credit Acceptance Corp. stock. The stock was sold at an average price of $197.78, for a total value of $3,568,544.54.
  • On Thursday, March 9th, Jill Foss Watson sold 9,450 shares of Credit Acceptance Corp. stock. The stock was sold at an average price of $198.20, for a total value of $1,872,990.00.
  • On Tuesday, March 7th, Jill Foss Watson sold 16,543 shares of Credit Acceptance Corp. stock. The stock was sold at an average price of $198.44, for a total value of $3,282,792.92.

Credit Acceptance Corp. (NASDAQ:CACC) opened at 202.79 on Tuesday. The stock has a 50 day moving average price of $200.31 and a 200-day moving average price of $197.99. Credit Acceptance Corp. has a 12-month low of $160.63 and a 12-month high of $221.10. The stock has a market capitalization of $4.04 billion, a PE ratio of 12.43 and a beta of 0.76.

Credit Acceptance Corp. (NASDAQ:CACC) last released its quarterly earnings results on Tuesday, January 31st. The company reported $4.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.26 by $0.53. The firm had revenue of $236.20 million for the quarter, compared to the consensus estimate of $250.54 million. Credit Acceptance Corp. had a return on equity of 33.44% and a net margin of 34.34%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period last year, the business posted $4.00 EPS. On average, equities analysts anticipate that Credit Acceptance Corp. will post $18.26 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Credit Acceptance Corp. (NASDAQ:CACC)

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A number of brokerages have weighed in on CACC. Janney Montgomery Scott lowered Credit Acceptance Corp. from a “neutral” rating to a “sell” rating in a research note on Friday, February 17th. Stephens set a $170.00 target price on Credit Acceptance Corp. and gave the stock a “sell” rating in a research note on Wednesday, February 8th. Credit Suisse Group AG restated a “sell” rating and issued a $190.00 target price on shares of Credit Acceptance Corp. in a research note on Sunday, February 5th. Susquehanna Bancshares Inc began coverage on Credit Acceptance Corp. in a research note on Monday, January 23rd. They issued a “neutral” rating and a $226.00 target price on the stock. Finally, Jefferies Group LLC restated a “hold” rating and issued a $215.00 target price on shares of Credit Acceptance Corp. in a research note on Wednesday, January 11th. Five analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock has an average rating of “Sell” and a consensus target price of $185.00.

Several institutional investors have recently added to or reduced their stakes in the company. LMR Partners LLP raised its stake in Credit Acceptance Corp. by 18.5% in the third quarter. LMR Partners LLP now owns 75,000 shares of the company’s stock worth $15,080,000 after buying an additional 11,707 shares during the last quarter. First Quadrant L P CA purchased a new stake in Credit Acceptance Corp. during the third quarter worth $5,037,000. Hsbc Holdings PLC purchased a new stake in Credit Acceptance Corp. during the third quarter worth $20,178,000. Global Endowment Management LP raised its stake in Credit Acceptance Corp. by 72.6% in the third quarter. Global Endowment Management LP now owns 86,280 shares of the company’s stock worth $17,349,000 after buying an additional 36,280 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in Credit Acceptance Corp. by 1.1% in the third quarter. California State Teachers Retirement System now owns 17,632 shares of the company’s stock worth $3,545,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 52.09% of the company’s stock.

Credit Acceptance Corp. Company Profile

Credit Acceptance Corporation is a provider of financing programs that enable automobile dealers to sell vehicles to consumers. The Company’s financing programs are offered through a network of automobile dealers; from repeat and referral sales generated by customers, and from sales to customers responding to advertisements for its financing programs.

5 Day Chart for NASDAQ:CACC

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