Credit Acceptance Corporation (NASDAQ:CACC - Get Free Report) shares fell 6.6% on Thursday . The company traded as low as $456.79 and last traded at $453.20. 25,649 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 114,647 shares. The stock had previously closed at $485.30.
Credit Acceptance Stock Performance
The firm has a market cap of $5.22 billion, a P/E ratio of 13.30 and a beta of 1.25. The company has a current ratio of 22.03, a quick ratio of 22.03 and a debt-to-equity ratio of 4.16. The company's 50-day moving average is $497.27 and its two-hundred day moving average is $496.03.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The credit services provider reported $8.56 EPS for the quarter, missing the consensus estimate of $9.84 by ($1.28). Credit Acceptance had a return on equity of 27.06% and a net margin of 18.69%.The company had revenue of $583.80 million during the quarter, compared to analysts' expectations of $583.30 million. During the same period last year, the company earned $10.29 earnings per share. The business's revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities analysts predict that Credit Acceptance Corporation will post 53.24 EPS for the current fiscal year.
Insider Activity
In other Credit Acceptance news, CEO Kenneth Booth sold 4,000 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $506.59, for a total value of $2,026,360.00. Following the completion of the sale, the chief executive officer directly owned 68,116 shares of the company's stock, valued at approximately $34,506,884.44. This represents a 5.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jonathan Lum sold 6,000 shares of the stock in a transaction dated 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 completion of the sale, the chief operating officer owned 31,493 shares of the company's stock, valued at approximately $16,143,626.73. This trade represents a 16.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,697 shares of company stock valued at $17,780,655 over the last quarter. 6.60% of the stock is owned by insiders.
Institutional Investors Weigh In On Credit Acceptance
Several large investors have recently made changes to their positions in the business. Sierra Ocean LLC purchased a new stake in Credit Acceptance during the first quarter worth about $26,000. CX Institutional bought a new stake in shares of Credit Acceptance in the 1st quarter worth approximately $36,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Credit Acceptance in the first quarter valued at approximately $44,000. Harbor Capital Advisors Inc. purchased a new stake in Credit Acceptance in the first quarter worth $49,000. Finally, CWM LLC lifted its position in shares of Credit Acceptance by 206.3% during the 1st quarter. CWM LLC now owns 193 shares of the credit services provider's stock valued at $100,000 after buying an additional 130 shares during the last quarter. 81.71% of the stock is owned by hedge funds and other institutional investors.
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.
See Also
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