Aigen Investment Management LP Takes $372,000 Position in Credit Acceptance Corporation $CACC

Key Points

• Aigen Investment Management LP invested approximately $372,000 in Credit Acceptance Corporation by purchasing 721 shares during the first quarter.
• Several other institutional investors, including Deutsche Bank AG and Entropy Technologies LP, significantly increased their holdings in Credit Acceptance during the same period, indicating growing institutional interest.
• Despite a revenue increase of 8.5% year-over-year, Credit Acceptance reported earnings per share of $8.56, missing analysts' expectations by $1.28.

Aigen Investment Management LP acquired a new stake in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 721 shares of the credit services provider's stock, valued at approximately $372,000.

A number of other institutional investors have also bought and sold shares of CACC. Sierra Ocean LLC purchased a new stake in Credit Acceptance in the 1st quarter valued at about $26,000. CX Institutional purchased a new stake in shares of Credit Acceptance during the first quarter worth approximately $36,000. Harbor Capital Advisors Inc. acquired a new position in Credit Acceptance during the 1st quarter worth approximately $49,000. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Credit Acceptance by 13,400.0% in the 4th 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 last quarter. Finally, CWM LLC raised its holdings in shares of Credit Acceptance by 206.3% in the 1st quarter. CWM LLC now owns 193 shares of the credit services provider's stock valued at $100,000 after purchasing an additional 130 shares in the last quarter. 81.71% of the stock is owned by hedge funds and other institutional investors.

Credit Acceptance Stock Up 0.2%

Shares of Credit Acceptance stock traded up $0.91 during trading on Monday, hitting $475.65. 29,349 shares of the stock were exchanged, compared to its average volume of 115,160. 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's 50-day moving average price is $501.49 and its 200 day moving average price is $495.31. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 13.73 and a beta of 1.13. Credit Acceptance Corporation has a 12-month low of $409.22 and a 12-month high of $560.00.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The credit services provider reported $8.56 earnings per share (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 analysts' expectations of $583.30 million. Credit Acceptance had a return on equity of 27.06% and a net margin of 18.69%. The firm's quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $10.29 earnings per share. As a group, analysts forecast that Credit Acceptance Corporation will post 53.24 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Andrew K. Rostami sold 375 shares of Credit Acceptance stock in a transaction on Friday, June 20th. The shares were sold at an average price of $505.29, for a total transaction of $189,483.75. Following the sale, the insider directly owned 25,478 shares in the company, valued at $12,873,778.62. This trade represents a 1.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Jill Foss Watson sold 20,000 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $539.97, for a total transaction 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 approximately $55,134,716.79. This trade represents a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,731 shares of company stock worth $14,307,733. Corporate 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.