773 Shares in Credit Acceptance Corporation $CACC Acquired by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P recently acquired 773 shares of Credit Acceptance Corporation, valued at approximately $399,000, indicating growing interest from institutional investors in the company.
• Insiders have been actively selling their shares, with Andrew K. Rostami and Jill Foss Watson selling a combined total of 20,375 shares for over $10 million, reflecting a notable decrease in their ownership stakes.
• In its latest earnings report, Credit Acceptance Corporation reported an EPS of $8.56, missing analysts' expectations of $9.84, despite an 8.5% year-over-year revenue increase to $583.80 million.

Martingale Asset Management L P acquired a new position in shares of Credit Acceptance Corporation (NASDAQ:CACC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 773 shares of the credit services provider's stock, valued at approximately $399,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new stake in Credit Acceptance in the first quarter valued at $26,000. CX Institutional purchased a new stake in Credit Acceptance in the first quarter valued at $36,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Credit Acceptance in the first quarter valued at $44,000. Harbor Capital Advisors Inc. purchased a new stake in Credit Acceptance in the first quarter valued at $49,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in Credit Acceptance by 13,400.0% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 135 shares of the credit services provider's stock valued at $64,000 after purchasing an additional 134 shares during the period. Hedge funds and other institutional investors own 81.71% of the company's stock.

Insider Activity

In other news, insider Andrew K. Rostami sold 375 shares of Credit Acceptance stock in a transaction on Friday, June 20th. The stock was sold at an average price of $505.29, for a total value of $189,483.75. Following the completion of the sale, the insider directly owned 25,478 shares of the company's stock, valued at approximately $12,873,778.62. The trade was a 1.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $539.97, for a total value of $10,799,400.00. Following the completion of the sale, the insider directly owned 102,107 shares of the company's stock, valued at $55,134,716.79. The trade was a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,731 shares of company stock valued at $14,307,733. 6.60% of the stock is currently owned by corporate insiders.

Credit Acceptance Price Performance

NASDAQ:CACC opened at $512.33 on Tuesday. Credit Acceptance Corporation has a 52 week low of $409.22 and a 52 week high of $560.00. The company has a quick ratio of 22.03, a current ratio of 22.03 and a debt-to-equity ratio of 4.16. The company has a market capitalization of $5.76 billion, a P/E ratio of 14.77 and a beta of 1.13. The stock's fifty day moving average is $499.94 and its two-hundred day moving average is $494.25.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its earnings results on Thursday, July 31st. The credit services provider reported $8.56 EPS for the quarter, missing analysts' consensus estimates of $9.84 by ($1.28). Credit Acceptance had a net margin of 18.69% and a return on equity of 27.06%. The business had revenue of $583.80 million during the quarter, compared to analysts' expectations of $583.30 million. During the same quarter in the prior year, the firm earned $10.29 EPS. Credit Acceptance's revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts expect that Credit Acceptance Corporation will post 53.24 EPS for the current year.

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.

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