Citadel Investment Advisory Inc. Grows Stock Holdings in Credit Acceptance Co. (NASDAQ:CACC)

Citadel Investment Advisory Inc. lifted its position in shares of Credit Acceptance Co. (NASDAQ:CACC) by 5.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,959 shares of the credit services provider’s stock after buying an additional 157 shares during the quarter. Credit Acceptance makes up 0.7% of Citadel Investment Advisory Inc.’s holdings, making the stock its 26th largest holding. Citadel Investment Advisory Inc.’s holdings in Credit Acceptance were worth $1,527,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CX Institutional purchased a new stake in Credit Acceptance in the 1st quarter worth $36,000. First Horizon Advisors Inc. purchased a new stake in Credit Acceptance in the 4th quarter worth $34,000. TD Private Client Wealth LLC purchased a new stake in Credit Acceptance in the 4th quarter worth $37,000. Farther Finance Advisors LLC purchased a new stake in Credit Acceptance in the 4th quarter worth $38,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in Credit Acceptance in the 1st quarter worth $49,000. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Insider Transactions at Credit Acceptance

In other news, insider Nicholas J. Elliott sold 300 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $502.00, for a total value of $150,600.00. Following the sale, the insider now directly owns 19,385 shares in the company, valued at $9,731,270. The trade was a 1.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Douglas W. Busk sold 3,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the completion of the sale, the insider now owns 3,112 shares in the company, valued at approximately $1,605,698.64. This trade represents a 49.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

Credit Acceptance Stock Down 3.0%

Shares of CACC stock opened at $484.71 on Monday. The stock has a market cap of $5.62 billion, a P/E ratio of 24.41 and a beta of 1.15. Credit Acceptance Co. has a 52 week low of $409.22 and a 52 week high of $614.96. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63. The company’s fifty day simple moving average is $487.75 and its two-hundred day simple moving average is $489.20.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $9.35 EPS for the quarter, missing the consensus estimate of $10.31 by ($0.96). The company had revenue of $571.10 million during the quarter, compared to analysts’ expectations of $570.25 million. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.28 EPS. Analysts predict that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

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.