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 stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $505.29, for a total transaction of $189,483.75. Following the completion of the sale, the insider now directly owns 25,478 shares of the company's stock, valued at $12,873,778.62. This represents a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Credit Acceptance Price Performance

CACC traded down $0.54 during trading on Thursday, reaching $508.70. 217,291 shares of the company traded hands, compared to its average volume of 84,813. The company has a debt-to-equity ratio of 3.92, a quick ratio of 17.64 and a current ratio of 17.64. Credit Acceptance Corporation has a 12-month low of $409.22 and a 12-month high of $614.96. The firm has a fifty day simple moving average of $490.44 and a 200 day simple moving average of $490.34. The company has a market cap of $5.90 billion, a P/E ratio of 21.70 and a beta of 1.15.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced 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). Credit Acceptance had a net margin of 13.03% and a return on equity of 28.60%. The company had revenue of $571.10 million for the quarter, compared to analysts' expectations of $570.25 million. During the same period last year, the business earned $9.28 earnings per share. The company's quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities analysts forecast that Credit Acceptance Corporation will post 53.24 EPS for the current year.

Institutional Investors Weigh In On Credit Acceptance

A number of institutional investors have recently added to or reduced their stakes in CACC. London Co. of Virginia purchased a new stake in Credit Acceptance during the 4th quarter valued at approximately $48,148,000. Crow s Nest Holdings LP purchased a new stake in Credit Acceptance during the 4th quarter valued at approximately $35,210,000. Khrom Capital Management LLC purchased a new position in shares of Credit Acceptance in the first quarter valued at $30,639,000. Twin Lions Management LLC purchased a new position in shares of Credit Acceptance in the fourth quarter valued at $21,093,000. Finally, Wealthfront Advisers LLC purchased a new position in shares of Credit Acceptance in the fourth quarter valued at $18,146,000. 81.71% of the stock is owned by hedge funds and other institutional investors.

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.