545 Shares in Credit Acceptance Corporation $CACC Purchased by Aristeia Capital L.L.C.

Key Points

• Aristeia Capital L.L.C. has acquired 545 shares of Credit Acceptance Corporation, worth approximately $281,000, signaling institutional interest in the company.
• Credit Acceptance Corporation reported a Earnings Per Share (EPS) of $8.56 for the last quarter, missing expectations and highlighting challenges in profitability.
• Insider transactions revealed a significant number of shares sold recently, with insiders offloading shares worth over $19 million in the past three months, indicating potential concerns about the stock's performance.

Aristeia Capital L.L.C. purchased a new stake 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 and Exchange Commission (SEC). The fund purchased 545 shares of the credit services provider's stock, valued at approximately $281,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. New York State Common Retirement Fund grew its holdings in shares of Credit Acceptance by 0.7% during the first quarter. New York State Common Retirement Fund now owns 3,780 shares of the credit services provider's stock valued at $1,952,000 after buying an additional 27 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in Credit Acceptance by 2.8% in the first quarter. Linden Thomas Advisory Services LLC now owns 1,690 shares of the credit services provider's stock valued at $873,000 after purchasing an additional 46 shares in the last quarter. Sierra Ocean LLC purchased a new position in Credit Acceptance in the first quarter valued at about $26,000. US Bancorp DE grew its stake in Credit Acceptance by 35.8% in the first quarter. US Bancorp DE now owns 243 shares of the credit services provider's stock valued at $125,000 after purchasing an additional 64 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Credit Acceptance by 0.8% in the first quarter. Rhumbline Advisers now owns 9,122 shares of the credit services provider's stock valued at $4,710,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 81.71% of the company's stock.

Insider Transactions at Credit Acceptance

In other Credit Acceptance news, insider Andrew K. Rostami sold 375 shares of the business's 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 transaction, the insider owned 25,478 shares in the company, valued at $12,873,778.62. The trade was a 1.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel A. Ulatowski sold 2,139 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $509.05, for a total value of $1,088,857.95. Following the sale, the insider owned 28,290 shares of the company's stock, valued at approximately $14,401,024.50. This trade represents a 7.03% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,072 shares of company stock worth $15,943,779. 6.60% of the stock is owned by company insiders.

Credit Acceptance Stock Down 9.6%

NASDAQ CACC traded down $50.56 on Friday, reaching $474.44. The stock had a trading volume of 272,614 shares, compared to its average volume of 110,320. The business has a 50 day moving average price of $500.25 and a 200 day moving average price of $495.26. 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 Corporation has a 1 year low of $414.15 and a 1 year high of $560.00. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 13.68 and a beta of 1.25.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued 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 firm had revenue of $583.80 million during the quarter, compared to analysts' expectations of $583.30 million. During the same quarter last year, the firm earned $10.29 EPS. The business's revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts forecast that Credit Acceptance Corporation will post 53.24 EPS for the current fiscal year.

Credit Acceptance 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.