Charles Schwab Investment Management Inc. reduced its stake in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,112 shares of the credit services provider's stock after selling 2,742 shares during the period. Charles Schwab Investment Management Inc. owned about 0.80% of Credit Acceptance worth $48,078,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Gamco Investors INC. ET AL increased its stake in Credit Acceptance by 5.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,185 shares of the credit services provider's stock worth $1,026,000 after purchasing an additional 110 shares during the period. Teacher Retirement System of Texas purchased a new position in Credit Acceptance in the 1st quarter worth approximately $794,000. Northern Trust Corp increased its stake in Credit Acceptance by 7.9% in the 4th quarter. Northern Trust Corp now owns 37,772 shares of the credit services provider's stock worth $17,732,000 after purchasing an additional 2,773 shares during the period. CX Institutional purchased a new position in Credit Acceptance in the 1st quarter worth approximately $36,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Credit Acceptance in the 4th quarter worth approximately $313,000. 81.71% of the stock is owned by hedge funds and other institutional investors.
Credit Acceptance Trading Up 0.1%
Credit Acceptance stock traded up $0.72 during trading hours on Thursday, reaching $482.24. The company had a trading volume of 87,580 shares, compared to its average volume of 107,358. The company has a debt-to-equity ratio of 4.16, a current ratio of 22.03 and a quick ratio of 22.03. The company has a 50-day moving average price of $499.18 and a 200 day moving average price of $494.67. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of 13.90 and a beta of 1.13. Credit Acceptance Corporation has a 12-month low of $409.22 and a 12-month high of $560.00.
Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly 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 return on equity of 27.06% and a net margin of 18.69%.The company had revenue of $583.80 million during the quarter, compared to analysts' expectations of $583.30 million. During the same period last year, the firm earned $10.29 earnings per share. Credit Acceptance's revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts forecast that Credit Acceptance Corporation will post 53.24 earnings per share for the current year.
Insider Activity
In other news, major shareholder Jill Foss Watson sold 20,000 shares of the business's stock in a transaction that occurred 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 approximately $55,134,716.79. The trade was a 16.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel A. Ulatowski sold 6,356 shares of the business's stock in a transaction that occurred 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 transaction, the insider directly owned 28,290 shares in the company, valued at $14,771,906.40. This trade represents a 18.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,731 shares of company stock valued at $14,307,733. Company insiders own 6.60% of the company's stock.
Credit Acceptance Company Profile
(
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.
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