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

Credit Acceptance Corporation (NASDAQ:CACC - Get Free Report) saw an uptick in trading volume on Friday . 170,393 shares traded hands during trading, an increase of 62% from the previous session's volume of 105,159 shares.The stock last traded at $504.89 and had previously closed at $503.99.

Credit Acceptance Stock Down 0.3%

The company has a market cap of $5.83 billion, a P/E ratio of 21.43 and a beta of 1.15. The company's 50-day moving average is $488.68 and its two-hundred day moving average is $489.64. 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 earnings results on Wednesday, April 30th. The credit services provider reported $9.35 EPS for the quarter, missing the consensus estimate of $10.31 by ($0.96). Credit Acceptance had a net margin of 13.03% and a return on equity of 28.60%. The business had revenue of $571.10 million for the quarter, compared to analysts' expectations of $570.25 million. During the same quarter in the prior year, the business posted $9.28 earnings per share. The business's revenue for the quarter was up 12.4% on a year-over-year basis. As a group, equities analysts predict that Credit Acceptance Corporation will post 53.24 earnings per share for the current fiscal year.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, insider Douglas W. Busk sold 3,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the completion of the sale, the insider now directly owns 3,112 shares in the company, valued at approximately $1,605,698.64. The trade was a 49.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel A. Ulatowski sold 6,356 shares of the stock in a transaction 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 transaction, the insider now directly owns 28,290 shares in the company, valued at $14,771,906.40. The trade was a 18.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.

Institutional Trading of Credit Acceptance

Several large investors have recently modified their holdings of CACC. Sierra Ocean LLC bought a new position in Credit Acceptance in the first quarter valued at about $26,000. CX Institutional purchased a new stake in shares of Credit Acceptance during the 1st quarter valued at about $36,000. First Horizon Advisors Inc. bought a new position in shares of Credit Acceptance in the 4th quarter worth approximately $34,000. TD Private Client Wealth LLC purchased a new position in shares of Credit Acceptance in the fourth quarter worth approximately $37,000. Finally, Farther Finance Advisors LLC purchased a new position in shares of Credit Acceptance in the fourth quarter worth approximately $38,000. 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.