Beck Mack & Oliver LLC Has $203.94 Million Stock Holdings in Credit Acceptance Corporation $CACC

Key Points

• Beck Mack & Oliver LLC increased its stake in Credit Acceptance Corporation by 1.0%, now owning nearly 4.1% of its total holdings amounting to approximately $203.9 million.
• Credit Acceptance Corp. reported $8.56 EPS for the last quarter, falling short of estimates, but saw a year-over-year revenue increase of 8.5% to $583.8 million.
• Insiders have sold 36,428 shares in the last 90 days, with major shareholder Jill Foss Watson reducing her stake by 16.38% after selling 20,000 shares.

Beck Mack & Oliver LLC lifted its holdings in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 1.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 394,972 shares of the credit services provider's stock after purchasing an additional 3,734 shares during the period. Credit Acceptance makes up 4.1% of Beck Mack & Oliver LLC's holdings, making the stock its 5th biggest holding. Beck Mack & Oliver LLC owned approximately 3.40% of Credit Acceptance worth $203,944,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Khrom Capital Management LLC purchased a new position in Credit Acceptance in the first quarter worth approximately $30,639,000. Trexquant Investment LP acquired a new stake in shares of Credit Acceptance during the 1st quarter worth about $436,000. Gabelli Funds LLC boosted its stake in shares of Credit Acceptance by 380.0% during the 1st quarter. Gabelli Funds LLC now owns 3,600 shares of the credit services provider's stock worth $1,859,000 after purchasing an additional 2,850 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of Credit Acceptance in the first quarter worth approximately $327,000. Finally, Jump Financial LLC purchased a new position in Credit Acceptance in the first quarter valued at approximately $213,000. Institutional investors and hedge funds own 81.71% of the company's stock.

Credit Acceptance Stock Up 0.4%

Shares of CACC traded up $2.09 during mid-day trading on Friday, reaching $522.82. 39,280 shares of the stock traded hands, compared to its average volume of 114,921. Credit Acceptance Corporation has a 12-month low of $409.22 and a 12-month 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 firm has a market cap of $5.88 billion, a price-to-earnings ratio of 15.08 and a beta of 1.25. The stock has a fifty day simple moving average of $501.65 and a 200 day simple moving average of $494.72.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The credit services provider reported $8.56 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $583.30 million. During the same period in the previous year, the business posted $10.29 EPS. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. Sell-side analysts expect that Credit Acceptance Corporation will post 53.24 EPS for the current fiscal year.

Insider Buying and Selling at Credit Acceptance

In related news, COO Jonathan Lum sold 6,000 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $512.61, for a total value of $3,075,660.00. Following the completion of the sale, the chief operating officer directly owned 31,493 shares in the company, valued at approximately $16,143,626.73. The trade was a 16.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew K. Rostami sold 375 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were 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 $12,873,778.62. This represents a 1.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,428 shares of company stock valued at $19,262,627 in the last ninety days. 6.60% of the stock is owned by insiders.

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.