Insider Selling: Credit Acceptance Co. (NASDAQ:CACC) Insider Sells 300 Shares of Stock

Credit Acceptance Co. (NASDAQ:CACC) insider Nicholas J. Elliott sold 300 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $502.00, for a total transaction of $150,600.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Credit Acceptance Stock Performance

Shares of NASDAQ:CACC traded up $16.53 on Monday, reaching $512.02. 78,057 shares of the company’s stock were exchanged, compared to its average volume of 57,426. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63. Credit Acceptance Co. has a twelve month low of $409.22 and a twelve month high of $614.96. The company has a fifty day moving average of $496.81 and a 200-day moving average of $472.72. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 25.78 and a beta of 1.51.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, topping analysts’ consensus estimates of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. On average, research analysts predict that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CACC. Eagle Bay Advisors LLC acquired a new stake in Credit Acceptance during the fourth quarter worth about $28,000. First Horizon Advisors Inc. bought a new stake in shares of Credit Acceptance during the 4th quarter worth approximately $34,000. TD Private Client Wealth LLC acquired a new stake in shares of Credit Acceptance during the 4th quarter worth approximately $37,000. Farther Finance Advisors LLC bought a new position in Credit Acceptance in the fourth quarter valued at approximately $38,000. Finally, Quest Partners LLC raised its position 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 valued at $53,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Stephens upped their price objective on Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a report on Friday, January 31st.

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.