Credit Acceptance Co. (NASDAQ:CACC) Stake Trimmed by RV Capital AG

RV Capital AG cut its holdings in shares of Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,929 shares of the credit services provider's stock after selling 2,659 shares during the quarter. Credit Acceptance accounts for 14.7% of RV Capital AG's investment portfolio, making the stock its 3rd largest position. RV Capital AG owned approximately 1.07% of Credit Acceptance worth $66,572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL grew its position in shares of Credit Acceptance by 5.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 2,185 shares of the credit services provider's stock worth $1,026,000 after buying an additional 110 shares in the last quarter. Bridgewater Associates LP raised its holdings in Credit Acceptance by 268.2% in the fourth quarter. Bridgewater Associates LP now owns 8,354 shares of the credit services provider's stock valued at $3,922,000 after acquiring an additional 6,085 shares in the last quarter. Northern Trust Corp lifted its stake in Credit Acceptance by 7.9% in the fourth quarter. Northern Trust Corp now owns 37,772 shares of the credit services provider's stock worth $17,732,000 after acquiring an additional 2,773 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Credit Acceptance by 7.2% during the 4th quarter. Corient Private Wealth LLC now owns 1,030 shares of the credit services provider's stock worth $484,000 after acquiring an additional 69 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Credit Acceptance by 67.6% in the 4th quarter. HighTower Advisors LLC now owns 997 shares of the credit services provider's stock valued at $468,000 after purchasing an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 81.71% of the company's stock.

Insider Buying and Selling

In related news, insider Nicholas J. Elliott sold 300 shares of Credit Acceptance stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $502.00, for a total transaction of $150,600.00. Following the sale, the insider now directly owns 19,385 shares in the company, valued at $9,731,270. This trade represents a 1.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas W. Busk sold 3,000 shares of the company's stock in a transaction on 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 of the company's stock, valued at $1,605,698.64. This represents a 49.08% decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Credit Acceptance Price Performance

Credit Acceptance stock opened at $505.60 on Friday. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63. The company has a fifty day simple moving average of $485.87 and a 200-day simple moving average of $488.41. The stock has a market cap of $5.87 billion, a P/E ratio of 25.46 and a beta of 1.15. Credit Acceptance Co. has a 12-month low of $409.22 and a 12-month high of $614.96.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share 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 analyst estimates of $570.25 million. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. The firm's quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.28 earnings per share. Equities analysts expect that Credit Acceptance Co. will post 53.24 EPS for the current fiscal 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.

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