Quantbot Technologies LP Sells 2,281 Shares of Credit Acceptance Corporation $CACC

Key Points

• Quantbot Technologies LP significantly reduced its stake in Credit Acceptance Corporation by 93.7%, ending the first quarter with only 153 shares valued at approximately $79,000.
• Insider selling is notable, with Daniel A. Ulatowski and major shareholder Jill Foss Watson reducing their holdings by 18.35% and 16.38% respectively, alongside over 36,000 shares sold by insiders in the last three months.
• Credit Acceptance reported earnings of $8.56 per share for the latest quarter, which was below the consensus estimate of $9.84, despite an increase in revenue by 8.5% year-over-year.

Quantbot Technologies LP lowered its holdings in shares of Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 93.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153 shares of the credit services provider's stock after selling 2,281 shares during the quarter. Quantbot Technologies LP's holdings in Credit Acceptance were worth $79,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. New York State Common Retirement Fund raised its position in shares of Credit Acceptance by 0.7% during the 1st quarter. New York State Common Retirement Fund now owns 3,780 shares of the credit services provider's stock valued at $1,952,000 after buying an additional 27 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in Credit Acceptance by 2.8% during the first quarter. Linden Thomas Advisory Services LLC now owns 1,690 shares of the credit services provider's stock worth $873,000 after acquiring an additional 46 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Credit Acceptance during the first quarter valued at approximately $26,000. US Bancorp DE lifted its stake in shares of Credit Acceptance by 35.8% in the 1st quarter. US Bancorp DE now owns 243 shares of the credit services provider's stock valued at $125,000 after purchasing an additional 64 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Credit Acceptance by 0.8% in the 1st quarter. Rhumbline Advisers now owns 9,122 shares of the credit services provider's stock worth $4,710,000 after purchasing an additional 70 shares during the period. 81.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Daniel A. Ulatowski sold 53 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $508.50, for a total value of $26,950.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jonathan Lum sold 6,000 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $512.61, for a total value of $3,075,660.00. Following the transaction, the chief operating officer owned 31,493 shares of the company's stock, valued at approximately $16,143,626.73. The trade was a 16.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,428 shares of company stock valued at $19,262,627. Company insiders own 6.60% of the company's stock.

Credit Acceptance Trading Up 1.7%

Shares of NASDAQ CACC traded up $8.63 during trading hours on Wednesday, hitting $520.75. 89,586 shares of the company traded hands, compared to its average volume of 115,075. The company's 50 day moving average price is $501.20 and its 200 day moving average price is $494.55. Credit Acceptance Corporation has a 12 month low of $409.22 and a 12 month high of $560.00. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 15.01 and a beta of 1.25. The company has a current ratio of 22.03, a quick ratio of 22.03 and a debt-to-equity ratio of 4.16.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The credit services provider reported $8.56 EPS for the quarter, missing the consensus estimate of $9.84 by ($1.28). Credit Acceptance had a return on equity of 27.06% and a net margin of 18.69%.The firm had revenue of $583.80 million for the quarter, compared to analysts' expectations of $583.30 million. During the same period in the previous year, the firm earned $10.29 earnings per share. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts anticipate that Credit Acceptance Corporation will post 53.24 earnings per share 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.