Credit Acceptance Co. (NASDAQ:CACC - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 155,479 shares traded hands during mid-day trading, an increase of 122% from the previous session's volume of 70,149 shares.The stock last traded at $479.81 and had previously closed at $473.39.
Credit Acceptance Stock Down 2.6%
The firm's 50 day moving average is $486.23 and its two-hundred day moving average is $487.71. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 23.89 and a beta of 1.23.
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 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 11.46% and a return on equity of 29.01%. The company's revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $9.28 earnings per share. On average, sell-side analysts predict that Credit Acceptance Co. will post 53.24 EPS for the current year.
Insider Activity at Credit Acceptance
In related news, insider Douglas W. Busk sold 3,000 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 3,112 shares of the company's stock, valued at approximately $1,605,698.64. This represents a 49.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $502.00, for a total transaction of $150,600.00. Following the transaction, the insider now directly owns 19,385 shares of the company's stock, valued at $9,731,270. This trade represents a 1.52% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.30% of the company's stock.
Institutional Investors Weigh In On Credit Acceptance
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in Credit Acceptance by 0.8% during the first quarter. Rhumbline Advisers now owns 9,122 shares of the credit services provider's stock worth $4,710,000 after acquiring an additional 70 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Credit Acceptance during the 1st quarter worth approximately $225,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Credit Acceptance by 3.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 23,886 shares of the credit services provider's stock worth $12,334,000 after purchasing an additional 900 shares in the last quarter. Ascent Group LLC increased its position in shares of Credit Acceptance by 13.0% in the first quarter. Ascent Group LLC now owns 7,472 shares of the credit services provider's stock worth $3,858,000 after acquiring an additional 860 shares in the last quarter. Finally, Aristeia Capital L.L.C. acquired a new stake in shares of Credit Acceptance in the first quarter worth $281,000. 81.71% of the stock is currently owned by institutional investors and hedge funds.
About Credit Acceptance
(
Get Free Report)
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.
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