Credit Acceptance Co. (NASDAQ:CACC) COO Jonathan Lum Sells 552 Shares

Credit Acceptance Co. (NASDAQ:CACC) COO Jonathan Lum sold 552 shares of Credit Acceptance stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total value of $270,424.80. Following the completion of the transaction, the chief operating officer now owns 31,493 shares in the company, valued at $15,428,420.70. The trade was a 1.72 % 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 Price Performance

Shares of NASDAQ CACC opened at $461.19 on Friday. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. Credit Acceptance Co. has a 1-year low of $409.22 and a 1-year high of $616.66. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 30.97 and a beta of 1.46. The business has a 50-day moving average of $467.28 and a 200-day moving average of $479.33.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.88 by $0.91. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The company had revenue of $550.30 million during the quarter, compared to the consensus estimate of $548.13 million. During the same quarter last year, the company earned $10.70 earnings per share. Credit Acceptance’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities analysts anticipate that Credit Acceptance Co. will post 36.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Credit Acceptance

A number of institutional investors have recently added to or reduced their stakes in CACC. Abrams Bison Investments LLC raised its stake in shares of Credit Acceptance by 30.5% in the 3rd quarter. Abrams Bison Investments LLC now owns 228,306 shares of the credit services provider’s stock valued at $101,235,000 after purchasing an additional 53,306 shares in the last quarter. Smead Capital Management Inc. raised its stake in Credit Acceptance by 3.5% during the third quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider’s stock valued at $92,155,000 after buying an additional 7,012 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Credit Acceptance by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 179,655 shares of the credit services provider’s stock worth $92,455,000 after acquiring an additional 7,064 shares in the last quarter. MIG Capital LLC increased its holdings in shares of Credit Acceptance by 18.7% in the 3rd quarter. MIG Capital LLC now owns 116,491 shares of the credit services provider’s stock valued at $51,654,000 after acquiring an additional 18,351 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Credit Acceptance by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider’s stock valued at $49,401,000 after acquiring an additional 2,522 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CACC. Stephens started coverage on Credit Acceptance in a report on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price objective on the stock. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, TD Cowen dropped their price objective on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a research report on Friday, November 1st.

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.