Greenline Partners LLC Acquires 1,021 Shares of Credit Acceptance Corporation $CACC

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 increased its position in shares of Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 8.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 investment portfolio, making the stock its 28th biggest holding. Greenline Partners LLC owned about 0.11% of Credit Acceptance worth $6,804,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Teacher Retirement System of Texas acquired a new stake in Credit Acceptance during the 1st quarter worth approximately $794,000. Northern Trust Corp raised its holdings in Credit Acceptance by 7.9% during the 4th quarter. Northern Trust Corp now owns 37,772 shares of the credit services provider's stock worth $17,732,000 after buying an additional 2,773 shares during the period. CX Institutional acquired a new stake in Credit Acceptance during the 1st quarter worth approximately $36,000. Cubist Systematic Strategies LLC acquired a new stake in Credit Acceptance during the 4th quarter worth approximately $313,000. Finally, Comerica Bank raised its holdings 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 purchasing an additional 193 shares during the last quarter. Institutional investors own 81.71% of the company's stock.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, insider Andrew K. Rostami sold 375 shares of Credit Acceptance stock in a transaction 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 transaction, the insider directly owned 25,478 shares of the company's stock, valued at $12,873,778.62. The trade was a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel A. Ulatowski sold 6,356 shares of Credit Acceptance stock in a transaction on 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 of the company's stock, valued at approximately $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. In the last three months, insiders sold 36,428 shares of company stock valued at $19,262,627. 6.60% of the stock is owned by company insiders.

Credit Acceptance Price Performance

Shares of CACC opened at $519.70 on Thursday. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 14.98 and a beta of 1.25. Credit Acceptance Corporation has a 1-year low of $409.22 and a 1-year high of $560.00. The company's fifty day simple moving average is $501.41 and its 200 day simple moving average is $494.72. 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 issued its 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). Credit Acceptance had a return on equity of 27.06% and a net margin of 18.69%.The firm had revenue of $583.80 million for the quarter, compared to analyst estimates of $583.30 million. During the same quarter in the previous year, the firm posted $10.29 earnings per share. Credit Acceptance's quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts forecast that Credit Acceptance Corporation will post 53.24 earnings per share for the current fiscal year.

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.

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