Credit Acceptance Corporation (NASDAQ:CACC) Shares Sold by KBC Group NV

KBC Group NV decreased its holdings in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 94.9% in the first quarter, according to its most recent 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 quarter. KBC Group NV's holdings in Credit Acceptance were worth $177,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. London Co. of Virginia purchased a new position in shares of Credit Acceptance in the fourth quarter valued at approximately $48,148,000. Crow s Nest Holdings LP purchased a new position in Credit Acceptance in the 4th quarter valued at $35,210,000. Twin Lions Management LLC acquired a new stake in Credit Acceptance during the 4th quarter worth $21,093,000. Wealthfront Advisers LLC purchased a new stake in shares of Credit Acceptance during the fourth quarter worth $18,146,000. Finally, Millennium Management LLC raised its position in shares of Credit Acceptance by 708.8% in the fourth quarter. Millennium Management LLC now owns 43,426 shares of the credit services provider's stock valued at $20,387,000 after buying an additional 38,057 shares during the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Andrew K. Rostami sold 375 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $505.29, for a total value of $189,483.75. Following the completion of the sale, the insider owned 25,478 shares of the company's stock, valued at approximately $12,873,778.62. This represents a 1.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Daniel A. Ulatowski sold 6,356 shares of Credit Acceptance stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $522.16, for a total transaction of $3,318,848.96. Following the transaction, the insider directly owned 28,290 shares in the company, valued at $14,771,906.40. This trade represents a 18.35% 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 Price Performance

Shares of NASDAQ:CACC traded up $1.38 during midday trading on Monday, hitting $531.95. The company's stock had a trading volume of 279,817 shares, compared to its average volume of 88,864. The company has a market cap of $6.17 billion, a P/E ratio of 22.69 and a beta of 1.15. Credit Acceptance Corporation has a 12-month low of $409.22 and a 12-month high of $614.96. The business's 50 day simple moving average is $497.24 and its 200 day simple moving average is $491.96. The company has a debt-to-equity ratio of 3.92, a quick ratio of 17.64 and a current ratio of 17.64.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its 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 analysts' expectations of $570.25 million. Credit Acceptance had a return on equity of 28.60% and a net margin of 13.03%. The company's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the business earned $9.28 earnings per share. On average, analysts forecast that Credit Acceptance Corporation will post 53.24 EPS for the current 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.