Credit Acceptance (NASDAQ:CACC) Sees Strong Trading Volume - Here's What Happened

Shares of Credit Acceptance Corporation (NASDAQ:CACC - Get Free Report) saw unusually-high trading volume on Monday . Approximately 146,364 shares changed hands during mid-day trading, an increase of 71% from the previous session's volume of 85,526 shares.The stock last traded at $511.41 and had previously closed at $502.66.

Credit Acceptance Trading Up 1.3%

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 firm has a fifty day simple moving average of $492.37 and a two-hundred day simple moving average of $490.48. The firm has a market capitalization of $5.91 billion, a P/E ratio of 21.73 and a beta of 1.16.

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 for the quarter, missing the consensus estimate of $10.31 by ($0.96). Credit Acceptance had a return on equity of 28.60% and a net margin of 13.03%. The firm had revenue of $571.10 million for the quarter, compared to the consensus estimate of $570.25 million. During the same quarter in the previous year, the company posted $9.28 EPS. The firm's revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts anticipate that Credit Acceptance Corporation will post 53.24 earnings per share for the current fiscal year.

Insider Transactions at Credit Acceptance

In related news, insider Daniel A. Ulatowski sold 6,356 shares of Credit Acceptance stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $522.16, for a total value of $3,318,848.96. Following the completion of the transaction, the insider directly owned 28,290 shares in the company, valued at approximately $14,771,906.40. The trade was a 18.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew K. Rostami sold 375 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $505.29, for a total transaction of $189,483.75. Following the sale, the insider directly owned 25,478 shares in the company, valued at $12,873,778.62. The trade was a 1.45% decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Credit Acceptance

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Credit Acceptance by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 486,828 shares of the credit services provider's stock valued at $228,546,000 after purchasing an additional 5,134 shares during the period. Beck Mack & Oliver LLC increased its position in shares of Credit Acceptance by 1.0% during the first quarter. Beck Mack & Oliver LLC now owns 394,972 shares of the credit services provider's stock valued at $203,944,000 after buying an additional 3,734 shares during the period. Alfreton Capital LLP lifted its holdings in shares of Credit Acceptance by 11.8% in the first quarter. Alfreton Capital LLP now owns 190,000 shares of the credit services provider's stock worth $98,106,000 after buying an additional 20,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Credit Acceptance by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 183,203 shares of the credit services provider's stock worth $86,004,000 after buying an additional 1,318 shares in the last quarter. Finally, MIG Capital LLC grew its stake in Credit Acceptance by 8.6% during the fourth quarter. MIG Capital LLC now owns 126,467 shares of the credit services provider's stock valued at $59,371,000 after acquiring an additional 9,976 shares in the last quarter. 81.71% of the stock is owned by 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.