Blueshift Asset Management LLC acquired a new position in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 667 shares of the credit services provider's stock, valued at approximately $344,000.
Several other large investors have also recently modified their holdings of the company. Sierra Ocean LLC acquired a new position in shares of Credit Acceptance in the 1st quarter valued at $26,000. CX Institutional acquired a new position in shares of Credit Acceptance in the first quarter valued at about $36,000. Harbor Capital Advisors Inc. purchased a new position in shares of Credit Acceptance in the first quarter worth about $49,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Credit Acceptance by 13,400.0% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 135 shares of the credit services provider's stock worth $64,000 after purchasing an additional 134 shares during the period. Finally, CWM LLC boosted its position in Credit Acceptance by 206.3% in the first quarter. CWM LLC now owns 193 shares of the credit services provider's stock valued at $100,000 after buying an additional 130 shares during the last quarter. Institutional investors own 81.71% of the company's stock.
Insider Transactions at Credit Acceptance
In related news, major shareholder Jill Foss Watson sold 20,000 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $539.97, for a total transaction of $10,799,400.00. Following the sale, the insider directly owned 102,107 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew K. Rostami sold 375 shares of the business's 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 transaction, the insider directly owned 25,478 shares of the company's stock, valued at $12,873,778.62. The trade was a 1.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,731 shares of company stock worth $14,307,733 over the last quarter. 5.30% of the stock is currently owned by insiders.
Credit Acceptance Stock Performance
CACC traded up $10.39 during trading on Wednesday, reaching $461.33. 57,167 shares of the company's stock were exchanged, compared to its average volume of 115,715. The company has a debt-to-equity ratio of 4.16, a current ratio of 22.03 and a quick ratio of 22.03. Credit Acceptance Corporation has a 1 year low of $409.22 and a 1 year high of $560.00. The company's fifty day simple moving average is $503.60 and its 200-day simple moving average is $497.77. The stock has a market capitalization of $5.19 billion, a P/E ratio of 13.32 and a beta of 1.13.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its 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). 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 for the quarter, compared to analyst estimates of $583.30 million. During the same quarter in the prior year, the firm earned $10.29 earnings per share. The company's revenue for the quarter was up 8.5% on a year-over-year basis. As a group, research analysts predict that Credit Acceptance Corporation will post 53.24 earnings per share for the current fiscal year.
About Credit Acceptance
(
Free Report)
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.
See Also
Before you consider Credit Acceptance, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Credit Acceptance wasn't on the list.
While Credit Acceptance currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access