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

Cerity Partners LLC increased its position in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 0.1% during the first quarter, according to the company in its most recent filing 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 period. Credit Acceptance makes up approximately 0.8% of Cerity Partners LLC's holdings, making the stock its 22nd biggest position. Cerity Partners LLC owned 6.63% of Credit Acceptance worth $411,795,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CACC. Linden Thomas Advisory Services LLC raised its holdings 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 worth $873,000 after buying an additional 46 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Credit Acceptance during the first quarter valued at approximately $26,000. US Bancorp DE raised its holdings in Credit Acceptance by 50.4% in the 4th quarter. US Bancorp DE now owns 179 shares of the credit services provider's stock worth $84,000 after acquiring an additional 60 shares during the last quarter. Xponance Inc. raised its holdings in Credit Acceptance by 10.4% in the 4th quarter. Xponance Inc. now owns 730 shares of the credit services provider's stock worth $343,000 after acquiring an additional 69 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in Credit Acceptance by 7.2% in the 4th quarter. Corient Private Wealth LLC now owns 1,030 shares of the credit services provider's stock valued at $484,000 after acquiring an additional 69 shares in the last quarter. 81.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Jill Foss Watson sold 20,000 shares of the 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 transaction, the insider directly owned 102,107 shares of the company's stock, valued at $55,134,716.79. This represents a 16.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew K. Rostami sold 375 shares of Credit Acceptance stock in a transaction on Friday, June 20th. The stock was 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. The trade was a 1.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,731 shares of company stock worth $14,307,733. 5.30% of the stock is owned by insiders.

Credit Acceptance Stock Down 2.9%

Shares of Credit Acceptance stock traded down $15.22 on Friday, reaching $515.24. The company's stock had a trading volume of 204,253 shares, compared to its average volume of 90,376. Credit Acceptance Corporation has a 52 week low of $409.22 and a 52 week high of $614.96. The firm's fifty day simple moving average is $501.32 and its two-hundred day simple moving average is $493.68. The company has a quick ratio of 17.64, a current ratio of 17.64 and a debt-to-equity ratio of 3.92. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 21.98 and a beta of 1.15.

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