Credit Acceptance (NASDAQ:CACC) Insider Sells $741,752.83 in Stock

Credit Acceptance Corporation (NASDAQ:CACC) insider Nicholas Elliott sold 1,183 shares of Credit Acceptance stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $627.01, for a total value of $741,752.83. Following the completion of the sale, the insider owned 20,897 shares of the company’s stock, valued at $13,102,627.97. This trade represents a 5.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Credit Acceptance Trading Up 0.1%

NASDAQ CACC opened at $629.62 on Monday. The company has a market cap of $6.59 billion, a P/E ratio of 15.65 and a beta of 1.38. Credit Acceptance Corporation has a 12 month low of $401.90 and a 12 month high of $638.55. The company has a debt-to-equity ratio of 4.09, a current ratio of 13.62 and a quick ratio of 13.62. The company has a 50-day moving average of $548.53 and a 200-day moving average of $496.07.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Tuesday, May 5th. The credit services provider reported $10.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.73 by ($0.02). Credit Acceptance had a return on equity of 29.95% and a net margin of 19.49%.The company had revenue of $406.00 million during the quarter, compared to analyst estimates of $580.77 million. During the same period in the prior year, the business posted $9.35 earnings per share. Credit Acceptance’s revenue was up 1.6% on a year-over-year basis. As a group, equities analysts predict that Credit Acceptance Corporation will post 47.5 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on CACC shares. Weiss Ratings raised shares of Credit Acceptance from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Zacks Research lowered Credit Acceptance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. TD Cowen lifted their target price on Credit Acceptance from $450.00 to $500.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Finally, Stephens boosted their price target on Credit Acceptance from $450.00 to $540.00 and gave the company an “equal weight” rating in a research report on Friday, April 17th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $520.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CACC. State of Wyoming acquired a new position in shares of Credit Acceptance during the fourth quarter worth about $27,000. Kestra Advisory Services LLC acquired a new stake in shares of Credit Acceptance in the fourth quarter valued at about $27,000. Parallel Advisors LLC raised its holdings in shares of Credit Acceptance by 590.0% during the 1st quarter. Parallel Advisors LLC now owns 69 shares of the credit services provider’s stock valued at $29,000 after buying an additional 59 shares during the period. Altshuler Shaham Ltd raised its holdings in shares of Credit Acceptance by 37.3% during the 1st quarter. Altshuler Shaham Ltd now owns 70 shares of the credit services provider’s stock valued at $30,000 after buying an additional 19 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in Credit Acceptance by 53.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 69 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 24 shares in the last quarter. 81.71% of the stock is owned by hedge funds and other institutional investors.

Credit Acceptance Company Profile

Credit Acceptance Corporation, founded in 1972 and headquartered in Southfield, Michigan, is a specialty finance company focused on the indirect automotive lending market. The company partners with independent and franchised auto dealers to facilitate purchase financing for consumers who may not qualify for traditional prime auto loans. By purchasing retail installment contracts originated by these dealers, Credit Acceptance provides capital and credit insurance to support vehicle sales, enabling dealers to broaden their customer base and reduce credit risk.

Through its proprietary underwriting platform and risk management strategies, Credit Acceptance evaluates borrower applications, structures credit plans, and retains servicing rights on the acquired contracts.