Credit Acceptance Co. (NASDAQ:CACC – Get Free Report) 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 – Get Free Report) 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
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.
Check Out Our Latest Analysis on CACC
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.
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