Cerity Partners LLC Purchases 1,138 Shares of Credit Acceptance Corporation (NASDAQ:CACC)

Cerity Partners LLC raised its position in shares of Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 0.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 797,511 shares of the credit services provider's stock after purchasing an additional 1,138 shares during the quarter. Credit Acceptance accounts for about 0.8% of Cerity Partners LLC's investment portfolio, making the stock its 22nd largest position. Cerity Partners LLC owned approximately 6.63% of Credit Acceptance worth $411,795,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CACC. Sierra Ocean LLC purchased a new position in Credit Acceptance during the first quarter valued at approximately $26,000. CX Institutional bought a new stake in shares of Credit Acceptance during the first quarter valued at approximately $36,000. TD Private Client Wealth LLC bought a new stake in shares of Credit Acceptance during the fourth quarter valued at approximately $37,000. Farther Finance Advisors LLC bought a new stake in shares of Credit Acceptance during the fourth quarter valued at approximately $38,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Credit Acceptance during the first quarter valued at approximately $49,000. Hedge funds and other institutional investors own 81.71% of the company's stock.

Insider Buying and Selling

In related news, insider Daniel A. Ulatowski sold 6,356 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $522.16, for a total value of $3,318,848.96. Following the sale, the insider owned 28,290 shares in the company, valued at approximately $14,771,906.40. The trade was a 18.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Jill Foss Watson sold 20,000 shares of the business's stock in a transaction on 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 completion of the sale, the insider owned 102,107 shares in the company, valued at $55,134,716.79. This represents a 16.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,731 shares of company stock worth $14,307,733. Insiders own 5.30% of the company's stock.

Credit Acceptance Price Performance

Shares of Credit Acceptance stock traded down $1.02 on Monday, hitting $514.22. 82,165 shares of the company traded hands, compared to its average volume of 118,494. The stock has a market capitalization of $5.97 billion, a P/E ratio of 21.94 and a beta of 1.15. The company has a debt-to-equity ratio of 3.92, a quick ratio of 17.64 and a current ratio of 17.64. Credit Acceptance Corporation has a 52 week low of $409.22 and a 52 week high of $614.96. The business has a 50-day simple moving average of $501.32 and a 200 day simple moving average of $494.00.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.31 by ($0.96). The company had revenue of $571.10 million for the quarter, compared to the consensus estimate of $570.25 million. Credit Acceptance had a net margin of 13.03% and a return on equity of 28.60%. The company's quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.28 EPS. Research analysts expect that Credit Acceptance Corporation will post 53.24 earnings per share for the current fiscal year.

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.