59,337 Shares in Credit Acceptance Corporation $CACC Acquired by Khrom Capital Management LLC

Key Points

• Khrom Capital Management LLC has invested approximately $30.64 million in Credit Acceptance Corporation, acquiring 59,337 shares, which constitutes 4.1% of their total holdings.
• Credit Acceptance Corporation's recent quarterly earnings reported an EPS of $8.56, falling short of analysts' expectations of $9.84, despite a revenue of $583.80 million, which was slightly above the consensus estimate.
• As of the latest filings, institutional investors hold 81.71% of Credit Acceptance's stock, indicating strong interest from financial institutions in this credit services provider.

Khrom Capital Management LLC bought a new position in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 59,337 shares of the credit services provider's stock, valued at approximately $30,639,000. Credit Acceptance makes up about 4.1% of Khrom Capital Management LLC's portfolio, making the stock its 11th largest holding. Khrom Capital Management LLC owned 0.51% of Credit Acceptance at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new stake in Credit Acceptance during the first quarter valued at approximately $26,000. CX Institutional acquired a new position in shares of Credit Acceptance during the first quarter valued at about $36,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Credit Acceptance during the first quarter valued at about $44,000. 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. 81.71% of the stock is currently owned by institutional investors.

Credit Acceptance Stock Performance

Shares of NASDAQ:CACC traded up $2.17 during midday trading on Friday, reaching $522.90. The company's stock had a trading volume of 39,280 shares, compared to its average volume of 114,921. The firm has a market capitalization of $5.88 billion, a PE ratio of 15.08 and a beta of 1.25. Credit Acceptance Corporation has a twelve month low of $409.22 and a twelve month high of $560.00. The stock has a fifty day moving average of $501.65 and a 200 day moving average of $494.72. The company has a quick ratio of 22.03, a current ratio of 22.03 and a debt-to-equity ratio of 4.16.

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

Insider Buying and Selling

In other Credit Acceptance news, insider Daniel A. Ulatowski sold 6,356 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $522.16, for a total value of $3,318,848.96. Following the completion of the sale, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Jill Foss Watson sold 20,000 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $539.97, for a total transaction of $10,799,400.00. Following the completion of the sale, the insider directly owned 102,107 shares in the company, valued at approximately $55,134,716.79. The trade was a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,428 shares of company stock valued at $19,262,627. Corporate insiders own 6.60% of the company's stock.

Credit Acceptance 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.