Kize Capital LP Lowers Position in Credit Acceptance Corporation $CACC

Key Points

• Kize Capital LP has reduced its stake in Credit Acceptance Corporation by 10.4%, selling 8,800 shares to hold a total of 75,433 shares, which constitute about 35.4% of its portfolio.
• Credit Acceptance reported earnings of $8.56 per share in its last quarterly results, missing analysts' expectations, while posting an 8.5% increase in revenue year-over-year.
• Institutional investors and hedge funds now own approximately 81.71% of Credit Acceptance's stock, indicating significant institutional interest in the company.

Kize Capital LP reduced its holdings in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 75,433 shares of the credit services provider's stock after selling 8,800 shares during the quarter. Credit Acceptance makes up about 35.4% of Kize Capital LP's portfolio, making the stock its largest holding. Kize Capital LP owned about 0.65% of Credit Acceptance worth $38,950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CACC. Sierra Ocean LLC bought a new position in shares of Credit Acceptance in the first quarter valued at $26,000. CX Institutional purchased a new position in Credit Acceptance during the first quarter valued at approximately $36,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Credit Acceptance during the first quarter valued at approximately $44,000. Harbor Capital Advisors Inc. bought a new stake in Credit Acceptance during the first quarter valued at approximately $49,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Credit Acceptance by 13,400.0% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 135 shares of the credit services provider's stock valued at $64,000 after purchasing an additional 134 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Credit Acceptance

In other news, COO Jonathan Lum sold 6,000 shares of the business's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $512.61, for a total value of $3,075,660.00. Following the sale, the chief operating officer directly owned 31,493 shares in the company, valued at $16,143,626.73. The trade was a 16.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel A. Ulatowski sold 6,356 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider owned 28,290 shares of the company's stock, valued at $14,771,906.40. This trade represents a 18.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,428 shares of company stock worth $19,262,627. 6.60% of the stock is owned by corporate insiders.

Credit Acceptance Trading Down 0.1%

CACC traded down $0.26 during trading on Thursday, hitting $510.01. 63,662 shares of the stock traded hands, compared to its average volume of 127,834. The firm has a market capitalization of $5.73 billion, a P/E ratio of 14.70 and a beta of 1.13. The company has a debt-to-equity ratio of 4.16, a current ratio of 22.03 and a quick ratio of 22.03. The firm has a 50-day moving average of $500.62 and a 200 day moving average of $494.60. Credit Acceptance Corporation has a 12-month low of $409.22 and a 12-month high of $560.00.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last issued its quarterly earnings results 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 return on equity of 27.06% and a net margin of 18.69%.The business had revenue of $583.80 million during the quarter, compared to the consensus estimate of $583.30 million. During the same quarter in the previous year, the business earned $10.29 earnings per share. The firm's revenue was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that Credit Acceptance Corporation will post 53.24 EPS for the current year.

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.