Credit Acceptance Corp. (CACC) Insider Sells $863,080.00 in Stock

Credit Acceptance Corp. (NASDAQ:CACC) insider Charles A. Pearce sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $215.77, for a total value of $863,080.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of Credit Acceptance Corp. (NASDAQ:CACC) traded up 2.44% during mid-day trading on Friday, reaching $221.13. The company’s stock had a trading volume of 283,204 shares. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 12.72 and a beta of 0.76. The firm has a 50 day moving average price of $205.37 and a 200 day moving average price of $201.06. Credit Acceptance Corp. has a 52-week low of $160.63 and a 52-week high of $225.47.

Credit Acceptance Corp. (NASDAQ:CACC) last announced its quarterly earnings data on Monday, May 1st. The credit services provider reported $4.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.38 by $0.29. The firm had revenue of $262.80 million during the quarter, compared to analysts’ expectations of $259.24 million. Credit Acceptance Corp. had a return on equity of 33.44% and a net margin of 34.34%. On average, equities analysts predict that Credit Acceptance Corp. will post $18.74 EPS for the current fiscal year.

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

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A number of research firms have recently issued reports on CACC. BMO Capital Markets restated a “hold” rating and set a $212.00 price objective on shares of Credit Acceptance Corp. in a research report on Tuesday, April 11th. Credit Suisse Group AG restated a “sell” rating and set a $190.00 price objective on shares of Credit Acceptance Corp. in a research report on Sunday, February 5th. Janney Montgomery Scott upgraded Credit Acceptance Corp. from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $187.00 to $200.00 in a research report on Tuesday, May 2nd. Zacks Investment Research upgraded Credit Acceptance Corp. from a “hold” rating to a “strong-buy” rating and set a $248.00 price objective on the stock in a research report on Thursday, May 4th. Finally, Jefferies Group LLC restated a “hold” rating and set a $215.00 price objective on shares of Credit Acceptance Corp. in a research report on Friday, April 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $205.63.

A number of institutional investors have recently made changes to their positions in CACC. Force Capital Management LLC bought a new position in shares of Credit Acceptance Corp. during the third quarter valued at $3,016,000. TLP Group LLC bought a new position in shares of Credit Acceptance Corp. during the third quarter valued at $257,000. Two Sigma Securities LLC bought a new position in shares of Credit Acceptance Corp. during the third quarter valued at $591,000. Hsbc Holdings PLC bought a new position in shares of Credit Acceptance Corp. during the third quarter valued at $20,178,000. Finally, Pacer Advisors Inc. boosted its position in shares of Credit Acceptance Corp. by 15.9% in the third quarter. Pacer Advisors Inc. now owns 1,188 shares of the credit services provider’s stock valued at $239,000 after buying an additional 163 shares in the last quarter. 52.09% of the stock is owned by hedge funds and other institutional investors.

Credit Acceptance Corp. Company Profile

Credit Acceptance Corporation offers financing programs that enable automobile dealers to sell vehicles to consumers. The Company’s financing programs are offered through a network of automobile dealers. The Company has two Dealers financing programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, the Company advances money to dealers (Dealer Loan) in exchange for the right to service the underlying consumer loans.

12 Month Chart for NASDAQ:CACC

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