KBC Group NV Sells 6,319 Shares of Credit Acceptance Corporation (NASDAQ:CACC)

KBC Group NV reduced its stake in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 94.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 342 shares of the credit services provider's stock after selling 6,319 shares during the period. KBC Group NV's holdings in Credit Acceptance were worth $177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. London Co. of Virginia acquired a new stake in shares of Credit Acceptance during the fourth quarter valued at approximately $48,148,000. Crow s Nest Holdings LP acquired a new stake in shares of Credit Acceptance during the fourth quarter valued at approximately $35,210,000. Twin Lions Management LLC acquired a new stake in shares of Credit Acceptance during the fourth quarter valued at approximately $21,093,000. Wealthfront Advisers LLC acquired a new stake in shares of Credit Acceptance during the fourth quarter valued at approximately $18,146,000. Finally, Millennium Management LLC raised its holdings 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 valued at $20,387,000 after acquiring an additional 38,057 shares during the period. 81.71% of the stock is owned by institutional investors and hedge funds.

Credit Acceptance Trading Up 1.8%

Shares of CACC stock traded up $9.19 during trading hours on Thursday, reaching $530.46. 86,757 shares of the stock traded hands, compared to its average volume of 89,482. Credit Acceptance Corporation has a 1-year low of $409.22 and a 1-year high of $614.96. The business has a fifty day moving average price of $499.54 and a 200 day moving average price of $492.88. The company has a quick ratio of 17.64, a current ratio of 17.64 and a debt-to-equity ratio of 3.92. The firm has a market capitalization of $6.15 billion, a PE ratio of 22.63 and a beta of 1.15.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share for the quarter, missing the consensus estimate of $10.31 by ($0.96). The company had revenue of $571.10 million during the quarter, compared to analyst estimates of $570.25 million. Credit Acceptance had a net margin of 13.03% and a return on equity of 28.60%. The firm's quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.28 EPS. On average, equities research analysts forecast that Credit Acceptance Corporation will post 53.24 EPS for the current year.

Insider Transactions at Credit Acceptance

In related news, insider Andrew K. Rostami sold 375 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $505.29, for a total transaction of $189,483.75. Following the completion of the sale, the insider owned 25,478 shares in the company, valued at $12,873,778.62. This trade represents a 1.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Jill Foss Watson sold 20,000 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $539.97, for a total transaction of $10,799,400.00. Following the completion of the transaction, the insider directly owned 102,107 shares of the company's stock, valued at approximately $55,134,716.79. This represents a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,731 shares of company stock valued at $14,307,733. Company 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.