Credit Acceptance Corporation $CACC Shares Acquired by Greenline Partners LLC

Key Points

• Greenline Partners LLC has increased its stake in Credit Acceptance Corporation by 8.4%, acquiring an additional 1,021 shares during the first quarter, bringing its total holdings to 13,178 shares.
• Credit Acceptance reported a missed earnings estimate in its last quarterly results, with earnings per share at $8.56, falling short of the expected $9.84.
• Insider Andrew K. Rostami and Daniel A. Ulatowski recently sold shares of Credit Acceptance, with total insider sales in the past three months reaching $19.26 million.

Greenline Partners LLC boosted its holdings in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,178 shares of the credit services provider's stock after acquiring an additional 1,021 shares during the quarter. Credit Acceptance comprises approximately 1.0% of Greenline Partners LLC's portfolio, making the stock its 28th biggest holding. Greenline Partners LLC owned about 0.11% of Credit Acceptance worth $6,804,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Stifel Financial Corp purchased a new position in shares of Credit Acceptance in the fourth quarter valued at $859,000. Price T Rowe Associates Inc. MD increased its position in shares of Credit Acceptance by 14.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,049 shares of the credit services provider's stock valued at $1,901,000 after buying an additional 517 shares in the last quarter. Northern Trust Corp increased its position in shares of Credit Acceptance by 7.9% in the fourth quarter. Northern Trust Corp now owns 37,772 shares of the credit services provider's stock valued at $17,732,000 after buying an additional 2,773 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its position in shares of Credit Acceptance by 140.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,176 shares of the credit services provider's stock valued at $1,491,000 after buying an additional 1,855 shares in the last quarter. Finally, Comerica Bank increased its position in shares of Credit Acceptance by 24.4% in the fourth quarter. Comerica Bank now owns 983 shares of the credit services provider's stock valued at $462,000 after buying an additional 193 shares in the last quarter. Hedge funds and other institutional investors own 81.71% of the company's stock.

Credit Acceptance Price Performance

Shares of CACC stock traded up $7.84 during mid-day trading on Tuesday, reaching $521.01. The stock had a trading volume of 37,914 shares, compared to its average volume of 114,471. Credit Acceptance Corporation has a 12-month low of $409.22 and a 12-month high of $560.00. The company has a market cap of $5.86 billion, a P/E ratio of 15.03 and a beta of 1.25. The business has a 50-day simple moving average of $502.13 and a 200 day simple moving average of $494.51. The company has a current ratio of 22.03, a quick ratio of 22.03 and a debt-to-equity ratio of 4.16.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The credit services provider reported $8.56 earnings per share for the quarter, missing analysts' consensus estimates of $9.84 by ($1.28). The firm had revenue of $583.80 million during the quarter, compared to analysts' expectations of $583.30 million. Credit Acceptance had a net margin of 18.69% and a return on equity of 27.06%. The company's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.29 EPS. On average, sell-side analysts anticipate that Credit Acceptance Corporation will post 53.24 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Jonathan Lum sold 6,000 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $512.61, for a total transaction of $3,075,660.00. Following the sale, the chief operating officer owned 31,493 shares of the company's stock, valued at $16,143,626.73. This trade represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew K. Rostami sold 375 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $505.29, for a total value of $189,483.75. Following the completion of the sale, the insider directly owned 25,478 shares in the company, valued at approximately $12,873,778.62. The trade was a 1.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,428 shares of company stock worth $19,262,627 in the last ninety days. 6.60% of the stock is currently owned by insiders.

About Credit Acceptance

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.