Insider Selling: Credit Acceptance Corporation (NASDAQ:CACC) Major Shareholder Sells 20,000 Shares of Stock

Credit Acceptance Corporation (NASDAQ:CACC - Get Free Report) major shareholder Jill Foss Watson sold 20,000 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $539.97, for a total transaction of $10,799,400.00. Following the transaction, the insider directly owned 102,107 shares in the company, valued at approximately $55,134,716.79. The trade was a 16.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Credit Acceptance Stock Up 1.8%

Shares of Credit Acceptance stock traded up $9.19 on Thursday, reaching $530.46. 86,757 shares of the company were exchanged, compared to its average volume of 89,737. Credit Acceptance Corporation has a 1-year low of $409.22 and a 1-year high of $614.96. The company has a market cap of $6.15 billion, a P/E ratio of 22.63 and a beta of 1.15. 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 stock's 50 day moving average price is $500.79 and its 200-day moving average price is $493.36.

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

Institutional Investors Weigh In On Credit Acceptance

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

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.