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

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

Several other large investors have also modified their holdings of the business. London Co. of Virginia purchased a new stake in Credit Acceptance during the 4th quarter worth approximately $48,148,000. Crow s Nest Holdings LP purchased a new stake in Credit Acceptance during the 4th quarter worth approximately $35,210,000. Twin Lions Management LLC purchased a new stake in Credit Acceptance during the 4th quarter worth approximately $21,093,000. Millennium Management LLC grew its position in Credit Acceptance by 708.8% during the 4th quarter. Millennium Management LLC now owns 43,426 shares of the credit services provider's stock worth $20,387,000 after purchasing an additional 38,057 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Credit Acceptance by 805.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 27,450 shares of the credit services provider's stock worth $12,887,000 after purchasing an additional 24,417 shares during the last quarter. Institutional investors own 81.71% of the company's stock.

Insider Buying and Selling at Credit Acceptance

In related news, insider Daniel A. Ulatowski sold 6,356 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $522.16, for a total transaction of $3,318,848.96. Following the completion of the sale, the insider owned 28,290 shares in the company, valued at $14,771,906.40. This represents a 18.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Jill Foss Watson sold 20,000 shares of the stock in a transaction on 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 sale, the insider owned 102,107 shares of the company's stock, valued at approximately $55,134,716.79. This represents a 16.38% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,731 shares of company stock valued at $14,307,733. Insiders own 5.30% of the company's stock.

Credit Acceptance Stock Performance

Shares of CACC stock traded down $6.27 during trading hours on Friday, hitting $498.79. The company's stock had a trading volume of 62,999 shares, compared to its average volume of 90,869. The company has a 50 day moving average of $502.47 and a 200 day moving average of $495.07. The stock has a market cap of $5.79 billion, a PE ratio of 21.28 and a beta of 1.15. The company has a current ratio of 17.64, a quick 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 $592.62.

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