GAMMA Investing LLC Buys 12,380 Shares of Credit Acceptance Co. (NASDAQ:CACC)

GAMMA Investing LLC raised its stake in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 103,166.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,392 shares of the credit services provider's stock after buying an additional 12,380 shares during the quarter. GAMMA Investing LLC owned about 0.10% of Credit Acceptance worth $6,399,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CACC. Barclays PLC lifted its stake in Credit Acceptance by 85.8% in the third quarter. Barclays PLC now owns 5,241 shares of the credit services provider's stock valued at $2,324,000 after buying an additional 2,420 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Credit Acceptance in the fourth quarter worth $142,000. Entropy Technologies LP bought a new stake in shares of Credit Acceptance in the fourth quarter worth $235,000. Principal Securities Inc. bought a new stake in shares of Credit Acceptance in the fourth quarter worth $197,000. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Credit Acceptance by 13.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 4,717 shares of the credit services provider's stock worth $2,214,000 after purchasing an additional 554 shares in the last quarter. Institutional investors own 81.71% of the company's stock.

Credit Acceptance Stock Down 3.0%

Shares of CACC stock traded down $14.83 during trading on Friday, reaching $484.71. The company's stock had a trading volume of 152,390 shares, compared to its average volume of 79,103. The business has a fifty day moving average price of $487.75 and a 200-day moving average price of $489.27. The company has a quick ratio of 20.33, a current ratio of 20.33 and a debt-to-equity ratio of 3.63. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 24.41 and a beta of 1.16. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $614.96.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $9.35 EPS for the quarter, missing analysts' consensus estimates 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 29.01% and a net margin of 11.46%. The business's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.28 EPS. Analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $502.00, for a total value of $150,600.00. Following the transaction, the insider now directly owns 19,385 shares in the company, valued at approximately $9,731,270. This represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Douglas W. Busk sold 3,000 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total transaction of $1,547,910.00. Following the completion of the transaction, the insider now owns 3,112 shares in the company, valued at $1,605,698.64. This trade represents a 49.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.30% of the company's stock.

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.