Credit Acceptance Co. (NASDAQ:CACC) is RV Capital AG's 3rd Largest Position

RV Capital AG lowered its holdings in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 2.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 128,929 shares of the credit services provider's stock after selling 2,659 shares during the period. Credit Acceptance comprises 14.7% of RV Capital AG's portfolio, making the stock its 3rd largest position. RV Capital AG owned 1.07% of Credit Acceptance worth $66,572,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. London Co. of Virginia purchased a new position in Credit Acceptance in the 4th quarter worth about $48,148,000. Crow s Nest Holdings LP acquired a new stake in shares of Credit Acceptance during the 4th quarter valued at about $35,210,000. Twin Lions Management LLC acquired a new stake in shares of Credit Acceptance in the 4th quarter valued at $21,093,000. Wealthfront Advisers LLC acquired a new stake in Credit Acceptance during the 4th quarter valued at $18,146,000. Finally, Millennium Management LLC lifted its position in shares of Credit Acceptance by 708.8% during the fourth quarter. Millennium Management LLC now owns 43,426 shares of the credit services provider's stock worth $20,387,000 after purchasing an additional 38,057 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company's stock.

Credit Acceptance Trading Up 0.4%

NASDAQ:CACC traded up $2.17 during mid-day trading on Wednesday, hitting $513.15. The company had a trading volume of 257,149 shares, compared to its average volume of 77,707. Credit Acceptance Co. has a fifty-two week low of $409.22 and a fifty-two week high of $614.96. The company has a debt-to-equity ratio of 3.63, a quick ratio of 20.33 and a current ratio of 20.33. The firm has a market cap of $5.95 billion, a P/E ratio of 25.84 and a beta of 1.16. The business's fifty day moving average is $485.70 and its two-hundred day moving average is $489.00.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $571.10 million for 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 business's revenue for the quarter was up 12.4% on a year-over-year basis. During the same period last year, the company posted $9.28 earnings per share. As a group, research analysts expect that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Insider Activity

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

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.