Credit Acceptance (NASDAQ:CACC – Get Free Report) issued its earnings results on Wednesday. The credit services provider reported $8.79 earnings per share for the quarter, topping the consensus estimate of $7.88 by $0.91, Briefing.com reports. The business had revenue of $550.30 million for the quarter, compared to analysts’ expectations of $548.13 million. Credit Acceptance had a return on equity of 30.77% and a net margin of 9.01%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.70 EPS.
Credit Acceptance Trading Down 4.9 %
NASDAQ CACC traded down $22.78 on Thursday, reaching $439.15. The stock had a trading volume of 47,089 shares, compared to its average volume of 56,553. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of 29.57 and a beta of 1.42. The company has a quick ratio of 19.15, a current ratio of 19.15 and a debt-to-equity ratio of 3.77. Credit Acceptance has a 12-month low of $379.77 and a 12-month high of $616.66. The stock has a fifty day moving average price of $455.23 and a two-hundred day moving average price of $490.32.
Insider Buying and Selling at Credit Acceptance
In other Credit Acceptance news, insider Thomas W. Smith sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $451.01, for a total value of $541,212.00. Following the sale, the insider now owns 74,450 shares of the company’s stock, valued at $33,577,694.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.30% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Read Our Latest Stock Report on CACC
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.
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