Douglas W. Busk Sells 3,000 Shares of Credit Acceptance Co. (NASDAQ:CACC) Stock

Credit Acceptance Co. (NASDAQ:CACC) insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $515.97, for a total value of $1,547,910.00. Following the completion of the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $1,605,698.64. This trade represents a 49.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Credit Acceptance Stock Performance

NASDAQ:CACC opened at $513.13 on Friday. Credit Acceptance Co. has a 52-week low of $409.22 and a 52-week high of $614.96. The business’s fifty day moving average is $500.90 and its 200 day moving average is $474.63. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 25.84 and a beta of 1.51.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 earnings per share for the quarter, beating the consensus estimate of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. Research analysts predict that Credit Acceptance Co. will post 53.24 EPS for the current year.

Wall Street Analysts Forecast Growth

CACC has been the subject of a number of research reports. Stephens increased their target price on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

Institutional Trading of Credit Acceptance

Several institutional investors and hedge funds have recently bought and sold shares of CACC. HighTower Advisors LLC increased its holdings in shares of Credit Acceptance by 5.7% in the third quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider’s stock worth $263,000 after purchasing an additional 32 shares during the period. Eagle Bay Advisors LLC purchased a new position in Credit Acceptance during the fourth quarter worth about $28,000. US Bancorp DE grew its position in Credit Acceptance by 50.4% during the fourth quarter. US Bancorp DE now owns 179 shares of the credit services provider’s stock worth $84,000 after buying an additional 60 shares in the last quarter. Xponance Inc. increased its stake in Credit Acceptance by 10.4% in the 4th quarter. Xponance Inc. now owns 730 shares of the credit services provider’s stock worth $343,000 after acquiring an additional 69 shares during the last quarter. Finally, Corient Private Wealth LLC raised its holdings in shares of Credit Acceptance by 7.2% in the 4th quarter. Corient Private Wealth LLC now owns 1,030 shares of the credit services provider’s stock valued at $484,000 after acquiring an additional 69 shares in the last quarter. 81.71% of the stock is currently owned by hedge funds and other 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.