Credit Acceptance (NASDAQ:CACC) Major Shareholder Jill Foss Watson Sells 11,000 Shares of Stock

Credit Acceptance Corporation (NASDAQ:CACC) major shareholder Jill Foss Watson sold 11,000 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $653.24, for a total transaction of $7,185,640.00. Following the transaction, the insider owned 49,346 shares in the company, valued at approximately $32,234,781.04. The trade was a 18.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Jill Foss Watson also recently made the following trade(s):

• On Tuesday, April 21st, Jill Foss Watson sold 9,450 shares of Credit Acceptance stock. The stock was sold at an average price of $538.52, for a total transaction of $5,089,014.00.

Credit Acceptance Stock Down 1.6%

NASDAQ CACC opened at $646.58 on Wednesday. The company has a current ratio of 13.62, a quick ratio of 13.62 and a debt-to-equity ratio of 4.09. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 16.07 and a beta of 1.36. The company has a 50 day moving average of $566.61 and a 200-day moving average of $505.13. Credit Acceptance Corporation has a 1-year low of $401.90 and a 1-year high of $668.86.

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

Analyst Ratings Changes

A number of research analysts recently commented on CACC shares. TD Cowen boosted their price target on Credit Acceptance from $500.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday. Stephens increased their price objective on shares of Credit Acceptance from $450.00 to $540.00 and gave the stock an “equal weight” rating in a research note on Friday, April 17th. Zacks Research lowered shares of Credit Acceptance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of Credit Acceptance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 8th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Credit Acceptance has a consensus rating of “Hold” and a consensus price target of $557.50.

Institutional Trading of Credit Acceptance

Several institutional investors and hedge funds have recently modified their holdings of the business. M&T Bank Corp acquired a new position in Credit Acceptance during the fourth quarter worth about $208,294,000. Boston Partners boosted its stake in shares of Credit Acceptance by 3.4% in the 4th quarter. Boston Partners now owns 456,253 shares of the credit services provider’s stock valued at $202,373,000 after purchasing an additional 14,877 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Credit Acceptance by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 230,715 shares of the credit services provider’s stock valued at $97,701,000 after purchasing an additional 6,843 shares in the last quarter. Smead Capital Management Inc. grew its holdings in shares of Credit Acceptance by 17.0% during the 2nd quarter. Smead Capital Management Inc. now owns 216,811 shares of the credit services provider’s stock valued at $110,450,000 after purchasing an additional 31,438 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Credit Acceptance by 764.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 203,879 shares of the credit services provider’s stock valued at $91,652,000 after purchasing an additional 180,304 shares during the last quarter. 81.71% of the stock is currently owned by 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.