Credit Acceptance Corporation (NASDAQ:CACC) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. raised its holdings in shares of Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 102.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,323 shares of the credit services provider's stock after acquiring an additional 1,177 shares during the period. Edgestream Partners L.P.'s holdings in Credit Acceptance were worth $1,199,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CACC. London Co. of Virginia bought a new position in Credit Acceptance during the fourth quarter valued at about $48,148,000. Crow s Nest Holdings LP bought a new position in Credit Acceptance in the fourth quarter valued at about $35,210,000. Twin Lions Management LLC acquired a new position in Credit Acceptance in the fourth quarter valued at about $21,093,000. Millennium Management LLC grew its position in shares of Credit Acceptance by 708.8% in the 4th quarter. Millennium Management LLC now owns 43,426 shares of the credit services provider's stock valued at $20,387,000 after purchasing an additional 38,057 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Credit Acceptance by 805.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 27,450 shares of the credit services provider's stock worth $12,887,000 after buying an additional 24,417 shares during the last quarter. Institutional investors and hedge funds own 81.71% of the company's stock.

Insiders Place Their Bets

In other Credit Acceptance news, major shareholder Jill Foss Watson sold 20,000 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were 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 owned 102,107 shares of the company's stock, valued at $55,134,716.79. This represents a 16.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew K. Rostami sold 375 shares of the business'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 value of $189,483.75. Following the transaction, the insider owned 25,478 shares of the company's stock, valued at $12,873,778.62. This trade represents a 1.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,731 shares of company stock worth $14,307,733. Corporate insiders own 5.30% of the company's stock.

Credit Acceptance Trading Up 2.8%

Shares of CACC stock traded up $14.10 during trading hours on Tuesday, hitting $519.04. 90,525 shares of the company's stock traded hands, compared to its average volume of 90,987. The stock has a market cap of $6.02 billion, a PE ratio of 22.14 and a beta of 1.15. The company has a quick ratio of 17.64, a current ratio of 17.64 and a debt-to-equity ratio of 3.92. Credit Acceptance Corporation has a 12 month low of $409.22 and a 12 month high of $590.50. The stock's 50 day simple moving average is $503.00 and its 200 day simple moving average is $495.71.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued its quarterly earnings data 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). Credit Acceptance had a net margin of 13.03% and a return on equity of 28.60%. The firm had revenue of $571.10 million for the quarter, compared to the consensus estimate of $570.25 million. During the same period last year, the company posted $9.28 earnings per share. The business's revenue was up 12.4% on a year-over-year basis. On average, sell-side analysts anticipate that Credit Acceptance Corporation will post 53.24 EPS for the current 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.