Credit Acceptance Co. (NASDAQ:CACC) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC lifted 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 Securities and Exchange Commission. The fund owned 12,392 shares of the credit services provider's stock after purchasing an additional 12,380 shares during the period. GAMMA Investing LLC owned about 0.10% of Credit Acceptance worth $6,399,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CACC. Jefferies Financial Group Inc. bought a new stake in Credit Acceptance during the 4th quarter valued at $206,000. Ascent Group LLC raised its holdings in shares of Credit Acceptance by 6.8% in the fourth quarter. Ascent Group LLC now owns 6,612 shares of the credit services provider's stock valued at $3,104,000 after acquiring an additional 423 shares in the last quarter. Mackenzie Financial Corp bought a new stake in shares of Credit Acceptance in the fourth quarter valued at about $297,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Credit Acceptance by 8.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,986 shares of the credit services provider's stock worth $10,791,000 after acquiring an additional 1,770 shares during the period. Finally, Voloridge Investment Management LLC grew its holdings in Credit Acceptance by 16.1% during the 4th quarter. Voloridge Investment Management LLC now owns 22,032 shares of the credit services provider's stock worth $10,343,000 after acquiring an additional 3,052 shares in the last quarter. Hedge funds and other institutional investors own 81.71% of the company's stock.

Insider Activity

In other Credit Acceptance news, insider Douglas W. Busk sold 3,000 shares of Credit Acceptance stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $515.97, for a total value of $1,547,910.00. Following the transaction, the insider now directly owns 3,112 shares of the company's stock, valued at approximately $1,605,698.64. The trade was a 49.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas J. Elliott sold 300 shares of the company's stock in a transaction on Thursday, March 20th. The stock was 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. The trade was a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.30% of the company's stock.

Credit Acceptance Stock Down 1.9%

NASDAQ CACC traded down $9.68 during trading on Thursday, reaching $503.47. 189,658 shares of the company's stock traded hands, compared to its average volume of 103,748. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $614.96. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 25.35 and a beta of 1.16. The company's 50 day simple moving average is $486.73 and its two-hundred day simple moving average is $489.16.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued 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 business had revenue of $571.10 million for the quarter, compared to analysts' expectations of $570.25 million. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. The business's quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $9.28 earnings per share. As a group, sell-side analysts forecast that Credit Acceptance Co. will post 53.24 EPS for the current fiscal year.

Credit Acceptance Company 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.