Credit Acceptance Co. (NASDAQ:CACC) Insider Thomas W. Smith Sells 1,200 Shares

Credit Acceptance Co. (NASDAQ:CACC) insider Thomas W. Smith sold 1,200 shares of Credit Acceptance stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $451.01, for a total transaction of $541,212.00. Following the completion of the transaction, the insider now owns 74,450 shares of the company’s stock, valued at $33,577,694.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Credit Acceptance Price Performance

CACC stock opened at $420.93 on Thursday. The firm has a 50 day moving average of $503.96 and a 200-day moving average of $514.83. The firm has a market capitalization of $5.10 billion, a P/E ratio of 21.60 and a beta of 1.42. The company has a current ratio of 19.15, a quick ratio of 19.15 and a debt-to-equity ratio of 3.77. Credit Acceptance Co. has a 12 month low of $379.77 and a 12 month high of $616.66.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $10.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.20 by $3.09. The company had revenue of $538.20 million during the quarter, compared to analyst estimates of $525.03 million. Credit Acceptance had a return on equity of 30.77% and a net margin of 9.01%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the company earned $10.69 earnings per share. As a group, sell-side analysts predict that Credit Acceptance Co. will post 38.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in Credit Acceptance by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 179,655 shares of the credit services provider’s stock valued at $92,455,000 after purchasing an additional 7,064 shares during the last quarter. Alfreton Capital LLP lifted its holdings in shares of Credit Acceptance by 22.7% during the 2nd quarter. Alfreton Capital LLP now owns 98,128 shares of the credit services provider’s stock worth $50,505,000 after acquiring an additional 18,128 shares during the last quarter. Crow s Nest Holdings LP grew its position in Credit Acceptance by 39.4% in the fourth quarter. Crow s Nest Holdings LP now owns 92,000 shares of the credit services provider’s stock worth $49,011,000 after acquiring an additional 26,000 shares in the last quarter. Goodnow Investment Group LLC increased its stake in Credit Acceptance by 17.0% in the fourth quarter. Goodnow Investment Group LLC now owns 77,941 shares of the credit services provider’s stock valued at $41,522,000 after acquiring an additional 11,310 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Credit Acceptance by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 75,927 shares of the credit services provider’s stock valued at $40,449,000 after purchasing an additional 4,734 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, TD Cowen cut their price target on Credit Acceptance from $440.00 to $400.00 and set a “sell” rating for the company in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $395.67.

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.