Insider Selling: Credit Acceptance Corporation (NASDAQ:CACC) Major Shareholder Sells 20,000 Shares of Stock

Credit Acceptance Corporation (NASDAQ:CACC) major shareholder Jill Foss Watson sold 20,000 shares of Credit Acceptance stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $539.97, for a total transaction of $10,799,400.00. Following the transaction, the insider directly owned 102,107 shares of the company’s stock, valued at $55,134,716.79. This represents a 16.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Credit Acceptance Price Performance

Shares of NASDAQ CACC opened at $521.27 on Thursday. Credit Acceptance Corporation has a twelve month low of $409.22 and a twelve month high of $614.96. The firm has a fifty day simple moving average of $499.54 and a 200 day simple moving average of $492.88. The company has a market capitalization of $6.05 billion, a PE ratio of 22.24 and a beta of 1.15. The company has a quick ratio of 17.64, a current ratio of 17.64 and a debt-to-equity ratio of 3.92.

Credit Acceptance (NASDAQ:CACC) last announced its earnings results on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share for the quarter, missing analysts’ consensus estimates of $10.31 by ($0.96). Credit Acceptance had a return on equity of 28.60% and a net margin of 13.03%. The firm had revenue of $571.10 million for the quarter, compared to the consensus estimate of $570.25 million. During the same period in the prior year, the business earned $9.28 EPS. Credit Acceptance’s quarterly revenue was up 12.4% on a year-over-year basis. On average, sell-side analysts forecast that Credit Acceptance Corporation will post 53.24 EPS for the current year.

Institutional Investors Weigh In On Credit Acceptance

Several hedge funds and other institutional investors have recently bought and sold shares of CACC. Sierra Ocean LLC bought a new position in shares of Credit Acceptance during the 1st quarter worth about $26,000. CX Institutional acquired a new position in Credit Acceptance during the 1st quarter worth approximately $36,000. TD Private Client Wealth LLC bought a new position in Credit Acceptance in the fourth quarter worth approximately $37,000. Farther Finance Advisors LLC acquired a new stake in Credit Acceptance in the fourth quarter valued at approximately $38,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Credit Acceptance in the first quarter valued at approximately $44,000. 81.71% of the stock is owned by institutional investors.

About Credit Acceptance

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.