Credit Acceptance Corporation (NASDAQ:CACC - Get Free Report) shares were down 5% during mid-day trading on Friday . The stock traded as low as $503.80 and last traded at $498.60. Approximately 31,010 shares traded hands during trading, a decline of 73% from the average daily volume of 114,303 shares. The stock had previously closed at $525.00.
Credit Acceptance Trading Up 0.7%
The company has a debt-to-equity ratio of 4.16, a current ratio of 22.03 and a quick ratio of 22.03. The firm has a market capitalization of $5.67 billion, a PE ratio of 14.54 and a beta of 1.25. The company's fifty day simple moving average is $499.16 and its 200-day simple moving average is $495.37.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The credit services provider reported $8.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.84 by ($1.28). The company had revenue of $583.80 million for the quarter, compared to analysts' expectations of $583.30 million. Credit Acceptance had a net margin of 18.69% and a return on equity of 27.06%. The business's revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $10.29 earnings per share. As a group, sell-side analysts expect 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, COO Jonathan Lum sold 6,000 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $512.61, for a total transaction of $3,075,660.00. Following the transaction, the chief operating officer directly owned 31,493 shares of the company's stock, valued at $16,143,626.73. This trade represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Jill Foss Watson sold 20,000 shares of Credit Acceptance stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $539.97, for a total transaction of $10,799,400.00. Following the sale, the insider directly owned 102,107 shares in the company, valued at approximately $55,134,716.79. This trade represents a 16.38% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,072 shares of company stock valued at $15,943,779. 6.60% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Credit Acceptance
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sierra Ocean LLC acquired a new stake in Credit Acceptance during the 1st quarter worth $26,000. CX Institutional acquired a new stake in Credit Acceptance during the 1st quarter worth $36,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Credit Acceptance during the 1st quarter worth $44,000. Harbor Capital Advisors Inc. acquired a new stake in Credit Acceptance during the 1st quarter worth $49,000. Finally, CWM LLC boosted its stake in Credit Acceptance by 206.3% during the 1st quarter. CWM LLC now owns 193 shares of the credit services provider's stock worth $100,000 after purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds own 81.71% of the company's stock.
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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