Credit Acceptance Corporation (NASDAQ:CACC) Insider Sells $189,483.75 in Stock

Credit Acceptance Corporation (NASDAQ:CACC - Get Free Report) insider Andrew K. Rostami sold 375 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $505.29, for a total value of $189,483.75. Following the completion of the transaction, the insider now directly owns 25,478 shares in the company, valued at approximately $12,873,778.62. This represents a 1.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Credit Acceptance Stock Performance

Shares of NASDAQ CACC traded down $1.90 during trading on Monday, reaching $500.35. 165,845 shares of the stock traded hands, compared to its average volume of 81,656. Credit Acceptance Corporation has a 52-week low of $409.22 and a 52-week high of $614.96. The company has a debt-to-equity ratio of 3.92, a current ratio of 17.64 and a quick ratio of 17.64. The company has a 50-day moving average of $488.68 and a 200-day moving average of $489.85. The stock has a market capitalization of $5.80 billion, a P/E ratio of 21.35 and a beta of 1.16.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $10.31 by ($0.96). The company had revenue of $571.10 million for the quarter, compared to analysts' expectations of $570.25 million. Credit Acceptance had a return on equity of 28.60% and a net margin of 13.03%. The business's revenue for the quarter was up 12.4% on a year-over-year basis. During the same period last year, the company posted $9.28 EPS. Analysts forecast that Credit Acceptance Corporation will post 53.24 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. Sierra Ocean LLC bought a new position in shares of Credit Acceptance during the 1st quarter valued at about $26,000. First Horizon Advisors Inc. bought a new position in shares of Credit Acceptance during the 4th quarter valued at about $34,000. CX Institutional bought a new position in shares of Credit Acceptance during the 1st quarter valued at about $36,000. TD Private Client Wealth LLC bought a new position in shares of Credit Acceptance during the 4th quarter valued at about $37,000. Finally, Farther Finance Advisors LLC bought a new position in shares of Credit Acceptance during the 4th quarter valued at about $38,000. 81.71% of the stock is currently owned by institutional investors.

About Credit Acceptance

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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