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 firm’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 transaction, the chief operating officer now directly owns 31,493 shares of the company’s stock, valued at approximately $15,428,420.70. This trade represents a 1.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Credit Acceptance Price Performance

NASDAQ CACC traded down $7.88 during trading hours on Thursday, hitting $460.99. 60,691 shares of the company’s stock traded hands, compared to its average volume of 59,874. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. The firm’s 50-day moving average is $467.07 and its 200-day moving average is $479.64. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $616.66. The company has a market capitalization of $5.58 billion, a PE ratio of 30.96 and a beta of 1.46.

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

Hedge Funds Weigh In On Credit Acceptance

A number of institutional investors have recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Credit Acceptance during the 2nd quarter worth approximately $51,000. Quest Partners LLC boosted its stake in Credit Acceptance by 11,900.0% during the third quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock worth $53,000 after buying an additional 119 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Credit Acceptance during the third quarter valued at about $177,000. Kovitz Investment Group Partners LLC purchased a new stake in shares of Credit Acceptance in the 3rd quarter valued at approximately $245,000. Finally, Headlands Technologies LLC raised its stake in shares of Credit Acceptance by 24,850.0% in the 2nd quarter. Headlands Technologies LLC now owns 499 shares of the credit services provider’s stock valued at $257,000 after acquiring an additional 497 shares during the period. 81.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CACC has been the subject of several recent research reports. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. TD Cowen decreased their price objective on shares of 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, Stephens initiated coverage on shares of Credit Acceptance in a research report on Wednesday, November 13th. They set an “equal weight” rating and a $452.00 price objective for the company.

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.