J.W. Cole Advisors Inc. Acquires Shares of 1,581 Credit Acceptance Corporation (NASDAQ:CACC)

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sierra Ocean LLC purchased a new stake in shares of Credit Acceptance during the first quarter valued at about $26,000. CX Institutional purchased a new stake in shares of Credit Acceptance during the first quarter valued at about $36,000. TD Private Client Wealth LLC purchased a new stake in shares of Credit Acceptance during the fourth quarter valued at about $37,000. Harbor Capital Advisors Inc. acquired a new position in shares of Credit Acceptance during the first quarter valued at about $49,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of 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 valued at $64,000 after acquiring an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 81.71% of the company's stock.

Credit Acceptance Stock Up 1.4%

Shares of CACC traded up $6.98 during mid-day trading on Friday, hitting $520.47. 63,389 shares of the company traded hands, compared to its average volume of 134,689. Credit Acceptance Corporation has a 1-year low of $409.22 and a 1-year high of $590.50. The company has a quick ratio of 17.64, a current ratio of 17.64 and a debt-to-equity ratio of 3.92. The company has a market capitalization of $6.04 billion, a PE ratio of 22.20 and a beta of 1.15. The business has a 50 day moving average of $503.99 and a 200 day moving average of $496.26.

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 (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 company had revenue of $571.10 million for the quarter, compared to analyst estimates of $570.25 million. During the same quarter last year, the company earned $9.28 EPS. The business's revenue was up 12.4% compared to the same quarter last year. Equities research analysts anticipate that Credit Acceptance Corporation will post 53.24 EPS for the current year.

Insider Activity

In other news, insider Daniel A. Ulatowski sold 6,356 shares of the stock in a transaction that occurred 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 owned 28,290 shares in the company, valued at $14,771,906.40. This trade represents a 18.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Jill Foss Watson sold 20,000 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $539.97, for a total value of $10,799,400.00. Following the completion of the transaction, the insider owned 102,107 shares in the company, valued at $55,134,716.79. The trade was a 16.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,731 shares of company stock worth $14,307,733 over the last 90 days. 5.30% of the stock is currently owned by corporate 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.