KBC Group NV lowered its position in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 94.9% during the first quarter, according to its most recent filing with the SEC. 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 SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Highland Capital Management LLC bought a new stake in Credit Acceptance during the 1st quarter valued at $1,358,000. Sequoia Financial Advisors LLC bought a new stake in Credit Acceptance during the 1st quarter valued at $4,329,000. Lecap Asset Management Ltd. bought a new stake in Credit Acceptance during the 1st quarter valued at $288,000. Citadel Investment Advisory Inc. increased its stake in Credit Acceptance by 5.6% during the 1st quarter. Citadel Investment Advisory Inc. now owns 2,959 shares of the credit services provider's stock valued at $1,527,000 after purchasing an additional 157 shares in the last quarter. Finally, CX Institutional bought a new stake in shares of Credit Acceptance in the 1st quarter worth $36,000. Institutional investors and hedge funds own 81.71% of the company's stock.
Insider Transactions at Credit Acceptance
In related news, major shareholder Jill Foss Watson sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $539.97, for a total value of $10,799,400.00. Following the sale, the insider directly owned 102,107 shares of the company's stock, valued at $55,134,716.79. This trade represents a 16.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Andrew K. Rostami sold 375 shares of the firm's stock in a transaction that occurred on 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 directly owned 25,478 shares in the company, valued at $12,873,778.62. This represents a 1.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,731 shares of company stock valued at $14,307,733. 5.30% of the stock is currently owned by corporate insiders.
Credit Acceptance Stock Up 0.3%
Shares of CACC stock traded up $1.68 on Tuesday, hitting $533.63. The stock had a trading volume of 19,282 shares, compared to its average volume of 88,593. The business has a 50 day moving average of $498.12 and a 200 day moving average of $492.45. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 22.75 and a beta of 1.15. The company has a debt-to-equity ratio of 3.92, a current ratio of 17.64 and a quick ratio of 17.64. Credit Acceptance Corporation 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 the consensus estimate of $10.31 by ($0.96). The company had revenue of $571.10 million for the quarter, compared to the consensus estimate of $570.25 million. Credit Acceptance had a net margin of 13.03% and a return on equity of 28.60%. Credit Acceptance's quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.28 EPS. As a group, analysts expect that Credit Acceptance Corporation will post 53.24 EPS for the current year.
Credit Acceptance Profile
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Free Report)
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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