Credit Acceptance Corporation (NASDAQ:CACC) Insider Daniel A. Ulatowski Sells 6,356 Shares

Credit Acceptance Corporation (NASDAQ:CACC - Get Free Report) insider Daniel A. Ulatowski sold 6,356 shares of Credit Acceptance stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $522.16, for a total transaction of $3,318,848.96. Following the sale, the insider now directly owns 28,290 shares in the company, valued at approximately $14,771,906.40. This trade represents a 18.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Credit Acceptance Price Performance

CACC stock traded down $1.74 during mid-day trading on Friday, reaching $502.25. The company's stock had a trading volume of 303,793 shares, compared to its average volume of 81,001. The company has a current ratio of 17.64, a quick ratio of 17.64 and a debt-to-equity ratio of 3.92. The company's 50 day moving average is $488.50 and its two-hundred day moving average is $489.50. Credit Acceptance Corporation has a fifty-two week low of $409.22 and a fifty-two week high of $614.96. The stock has a market cap of $5.83 billion, a PE ratio of 21.43 and a beta of 1.15.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $570.25 million. During the same quarter last year, the company earned $9.28 earnings per share. Credit Acceptance's revenue for the quarter was up 12.4% on a year-over-year basis. Equities research analysts expect that Credit Acceptance Corporation will post 53.24 EPS for the current year.

Institutional Trading of Credit Acceptance

A number of hedge funds and other institutional investors have recently modified their holdings of CACC. London Co. of Virginia acquired a new position in shares of Credit Acceptance during the 4th quarter valued at about $48,148,000. Crow s Nest Holdings LP purchased a new position in Credit Acceptance during the fourth quarter worth about $35,210,000. Khrom Capital Management LLC acquired a new position in Credit Acceptance in the 1st quarter valued at about $30,639,000. Twin Lions Management LLC purchased a new stake in shares of Credit Acceptance in the 4th quarter valued at approximately $21,093,000. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Credit Acceptance during the 4th quarter worth approximately $18,146,000. 81.71% of the stock is owned by institutional investors and hedge funds.

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.