Trexquant Investment LP Takes $436,000 Position in Credit Acceptance Corporation $CACC

Trexquant Investment LP bought a new stake in shares of Credit Acceptance Corporation (NASDAQ:CACC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 845 shares of the credit services provider's stock, valued at approximately $436,000.

Other hedge funds have also recently made changes to their positions in the company. London Co. of Virginia purchased a new stake in Credit Acceptance during the 4th quarter valued at about $48,148,000. Millennium Management LLC grew its stake in shares of Credit Acceptance by 708.8% in the 4th quarter. Millennium Management LLC now owns 43,426 shares of the credit services provider's stock worth $20,387,000 after buying an additional 38,057 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Credit Acceptance during the 1st quarter valued at $12,999,000. Alfreton Capital LLP boosted its stake in Credit Acceptance by 11.8% during the 1st quarter. Alfreton Capital LLP now owns 190,000 shares of the credit services provider's stock valued at $98,106,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in Credit Acceptance by 133.1% during the 4th quarter. Two Sigma Investments LP now owns 25,144 shares of the credit services provider's stock valued at $11,804,000 after purchasing an additional 14,355 shares during the last quarter. 81.71% of the stock is currently owned by institutional investors.

Credit Acceptance Stock Performance

Credit Acceptance stock traded down $50.56 during trading on Friday, reaching $474.44. The company had a trading volume of 272,614 shares, compared to its average volume of 101,336. Credit Acceptance Corporation has a 52 week low of $414.15 and a 52 week high of $560.00. The firm's 50-day simple moving average is $500.25 and its 200 day simple moving average is $495.13. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 13.68 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.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its quarterly 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). The business had revenue of $583.80 million for the quarter, compared to the consensus estimate of $583.30 million. Credit Acceptance had a net margin of 18.69% and a return on equity of 27.06%. Credit Acceptance's revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $10.29 earnings per share. Sell-side analysts forecast that Credit Acceptance Corporation will post 53.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Jill Foss Watson sold 20,000 shares of Credit Acceptance stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $539.97, for a total value of $10,799,400.00. Following the completion of the transaction, the insider owned 102,107 shares in the company, valued at approximately $55,134,716.79. This trade represents a 16.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew K. Rostami sold 375 shares of Credit Acceptance stock in a transaction dated 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 transaction, the insider owned 25,478 shares of the company's stock, valued at approximately $12,873,778.62. This represents a 1.45% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,072 shares of company stock worth $15,943,779. Insiders own 6.60% 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.