498 Shares in Credit Acceptance Corporation $CACC Acquired by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC has acquired a new stake in Credit Acceptance Corporation, purchasing 498 shares valued at approximately $257,000 in the first quarter.
• Insider transactions saw Daniel A. Ulatowski sell 6,356 shares for over $3.3 million, reducing his ownership by 18.35%, while insiders sold a total of 26,731 shares valued at $14.3 million in the last three months.
• Credit Acceptance Corp. reported earnings of $8.56 EPS for the last quarter, missing estimates, with revenues up 8.5% year-over-year but down from $10.29 EPS in the previous year.

Kovitz Investment Group Partners LLC purchased a new position in shares of Credit Acceptance Corporation (NASDAQ:CACC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 498 shares of the credit services provider's stock, valued at approximately $257,000.

Several other large investors have also recently added to or reduced their stakes in CACC. Alfreton Capital LLP grew its position in Credit Acceptance by 11.8% during the first quarter. Alfreton Capital LLP now owns 190,000 shares of the credit services provider's stock worth $98,106,000 after buying an additional 20,000 shares during the period. Dimensional Fund Advisors LP grew its position in Credit Acceptance by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 183,203 shares of the credit services provider's stock worth $86,004,000 after buying an additional 1,318 shares during the period. London Co. of Virginia acquired a new position in Credit Acceptance during the fourth quarter worth about $48,148,000. Crow s Nest Holdings LP acquired a new position in Credit Acceptance during the fourth quarter worth about $35,210,000. Finally, JARISLOWSKY FRASER Ltd grew its position in Credit Acceptance by 12.5% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 73,135 shares of the credit services provider's stock worth $33,142,000 after buying an additional 8,153 shares during the period. 81.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Credit Acceptance

In other news, insider Daniel A. Ulatowski sold 6,356 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 28,290 shares in the company, valued at $14,771,906.40. This represents a 18.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew K. Rostami sold 375 shares of the stock in a transaction that occurred 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 sale, the insider 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 36,428 shares of company stock valued at $19,262,627. 6.60% of the stock is owned by corporate insiders.

Credit Acceptance Price Performance

CACC traded down $0.26 on Thursday, hitting $510.01. 63,662 shares of the company were exchanged, compared to its average volume of 127,834. The company has a debt-to-equity ratio of 4.16, a quick ratio of 22.03 and a current ratio of 22.03. The business's fifty day moving average is $500.62 and its 200 day moving average is $494.60. Credit Acceptance Corporation has a fifty-two week low of $409.22 and a fifty-two week high of $560.00. The firm has a market capitalization of $5.73 billion, a P/E ratio of 14.70 and a beta of 1.13.

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 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 company 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 company posted $10.29 earnings per share. The company's quarterly revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Credit Acceptance Corporation will post 53.24 EPS for the current year.

Credit Acceptance Company 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.