Kenneth Booth Sells 4,000 Shares of Credit Acceptance (NASDAQ:CACC) Stock

Credit Acceptance Corporation (NASDAQ:CACC) CEO Kenneth Booth sold 4,000 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $506.59, for a total transaction of $2,026,360.00. Following the completion of the sale, the chief executive officer directly owned 68,116 shares of the company’s stock, valued at $34,506,884.44. The trade was a 5.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Credit Acceptance Price Performance

Shares of NASDAQ:CACC opened at $492.01 on Wednesday. The company has a 50-day simple moving average of $497.60 and a 200-day simple moving average of $496.10. Credit Acceptance Corporation has a one year low of $414.15 and a one year high of $560.00. The company has a debt-to-equity ratio of 4.16, a quick ratio of 22.03 and a current ratio of 22.03. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 14.18 and a beta of 1.25.

Credit Acceptance (NASDAQ:CACC) last announced its earnings results on Thursday, July 31st. The credit services provider reported $8.56 EPS for the quarter, missing analysts’ consensus estimates of $9.84 by ($1.28). Credit Acceptance had a net margin of 18.69% and a return on equity of 27.06%. The business had revenue of $583.80 million during the quarter, compared to analysts’ expectations of $583.30 million. During the same period in the previous year, the company posted $10.29 earnings per share. Credit Acceptance’s quarterly revenue was up 8.5% on a year-over-year basis. On average, analysts predict that Credit Acceptance Corporation will post 53.24 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CACC. Beck Mack & Oliver LLC raised its holdings in Credit Acceptance by 1.0% during the first quarter. Beck Mack & Oliver LLC now owns 394,972 shares of the credit services provider’s stock worth $203,944,000 after purchasing an additional 3,734 shares in the last quarter. Smead Capital Management Inc. raised its holdings in Credit Acceptance by 17.0% during the second quarter. Smead Capital Management Inc. now owns 216,811 shares of the credit services provider’s stock worth $110,450,000 after purchasing an additional 31,438 shares in the last quarter. Alfreton Capital LLP raised its holdings in Credit Acceptance by 11.8% during the first quarter. Alfreton Capital LLP now owns 190,000 shares of the credit services provider’s stock worth $98,106,000 after purchasing an additional 20,000 shares in the last quarter. Twin Lions Management LLC raised its holdings in Credit Acceptance by 51.9% during the second quarter. Twin Lions Management LLC now owns 69,051 shares of the credit services provider’s stock worth $35,177,000 after purchasing an additional 23,580 shares in the last quarter. Finally, Khrom Capital Management LLC purchased a new position in Credit Acceptance during the first quarter worth about $30,639,000. 81.71% of the stock is currently owned by institutional investors and hedge funds.

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.