J.W. Cole Advisors Inc. Takes $816,000 Position in Credit Acceptance Corporation (NASDAQ:CACC)

J.W. Cole Advisors Inc. purchased a new position in shares of Credit Acceptance Corporation (NASDAQ:CACC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,581 shares of the credit services provider's stock, valued at approximately $816,000.

Other large investors have also added to or reduced their stakes in the company. Sierra Ocean LLC acquired a new stake in Credit Acceptance during the first quarter worth approximately $26,000. CX Institutional bought a new stake in Credit Acceptance during the first quarter worth $36,000. TD Private Client Wealth LLC bought a new stake in Credit Acceptance during the fourth quarter worth $37,000. Harbor Capital Advisors Inc. bought a new stake in Credit Acceptance during the first quarter worth $49,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in Credit Acceptance by 13,400.0% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 135 shares of the credit services provider's stock worth $64,000 after purchasing an additional 134 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, insider Andrew K. Rostami sold 375 shares of the company's stock in a transaction on Friday, June 20th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $3,318,848.96. Following the completion of the transaction, the insider owned 28,290 shares of the company's stock, valued at $14,771,906.40. The trade was a 18.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,731 shares of company stock worth $14,307,733 over the last three months. Insiders own 5.30% of the company's stock.

Credit Acceptance Price Performance

NASDAQ CACC traded down $8.01 on Monday, hitting $512.46. 5,406 shares of the company's stock were exchanged, compared to its average volume of 114,814. The stock has a 50-day moving average of $504.35 and a 200-day moving average of $497.22. 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 52 week low of $409.22 and a 52 week high of $590.50. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 21.88 and a beta of 1.15.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its 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). Credit Acceptance had a return on equity of 28.60% and a net margin of 13.03%. The business had revenue of $571.10 million for the quarter, compared to the consensus estimate of $570.25 million. During the same quarter in the previous year, the company earned $9.28 earnings per share. The firm's revenue for the quarter was up 12.4% on a year-over-year basis. Analysts expect that Credit Acceptance Corporation will post 53.24 earnings per share for the current 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.