Lecap Asset Management Ltd. Acquires New Stake in Credit Acceptance Corporation (NASDAQ:CACC)

Lecap Asset Management Ltd. bought a new stake in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 557 shares of the credit services provider's stock, valued at approximately $288,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Horizon Advisors Inc. acquired a new stake in shares of Credit Acceptance in the 4th quarter valued at $34,000. CX Institutional purchased a new position in Credit Acceptance in the first quarter valued at $36,000. TD Private Client Wealth LLC acquired a new stake in shares of Credit Acceptance during the fourth quarter worth $37,000. Farther Finance Advisors LLC purchased a new position in Credit Acceptance in the 4th quarter valued at $38,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Credit Acceptance in the 1st quarter valued at $49,000. 81.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Credit Acceptance

In other news, insider Andrew K. Rostami sold 375 shares of the business's stock in a transaction that occurred 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 sale, the insider owned 25,478 shares of the company's stock, valued at $12,873,778.62. The trade was a 1.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel A. Ulatowski sold 6,356 shares of the company's stock in a transaction that occurred 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 in the company, valued at approximately $14,771,906.40. This represents a 18.35% decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Credit Acceptance Stock Performance

Credit Acceptance stock traded up $6.77 during trading hours on Monday, reaching $509.43. 336,275 shares of the stock were exchanged, compared to its average volume of 86,146. Credit Acceptance Corporation has a 52-week low of $409.22 and a 52-week high of $614.96. The stock has a market cap of $5.91 billion, a P/E ratio of 21.73 and a beta of 1.16. The company has a debt-to-equity ratio of 3.92, a quick ratio of 17.64 and a current ratio of 17.64. The firm's 50 day moving average is $492.37 and its 200 day moving average is $490.48.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $571.10 million for the quarter, compared to analysts' expectations of $570.25 million. Credit Acceptance had a return on equity of 28.60% and a net margin of 13.03%. The company's revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the company earned $9.28 earnings per share. Analysts predict that Credit Acceptance Corporation will post 53.24 EPS for the current fiscal 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.