Credit Acceptance Corporation (NASDAQ:CACC) Major Shareholder Sells $10,799,400.00 in Stock

Credit Acceptance Corporation (NASDAQ:CACC - Get Free Report) major shareholder Jill Foss Watson sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $539.97, for a total value of $10,799,400.00. Following the completion of the transaction, the insider directly owned 102,107 shares of the company's stock, valued at $55,134,716.79. This represents a 16.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Credit Acceptance Trading Down 1.2%

Shares of Credit Acceptance stock traded down $6.22 during trading on Tuesday, hitting $525.73. The company's stock had a trading volume of 94,618 shares, compared to its average volume of 89,119. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 22.43 and a beta of 1.15. Credit Acceptance Corporation has a 52 week low of $409.22 and a 52 week high of $614.96. The stock has a 50-day moving average price of $498.86 and a two-hundred day moving average price of $492.69. The company has a debt-to-equity ratio of 3.92, a current ratio of 17.64 and a quick ratio of 17.64.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share for the quarter, missing the consensus estimate of $10.31 by ($0.96). The company 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 company's quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $9.28 EPS. Equities research analysts anticipate that Credit Acceptance Corporation will post 53.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. London Co. of Virginia acquired a new position in Credit Acceptance in the fourth quarter valued at $48,148,000. Crow s Nest Holdings LP acquired a new stake in Credit Acceptance during the 4th quarter worth about $35,210,000. Khrom Capital Management LLC bought a new position in shares of Credit Acceptance in the 1st quarter worth about $30,639,000. Twin Lions Management LLC acquired a new position in shares of Credit Acceptance in the 4th quarter valued at 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. Institutional investors own 81.71% of the company's stock.

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.