Petrus Trust Company LTA Makes New $299,000 Investment in Credit Acceptance Corporation $CACC

Key Points

• Petrus Trust Company LTA has invested $299,000 in Credit Acceptance Corporation, acquiring 579 shares in the process.
• Insider Jill Foss Watson sold 20,000 shares for approximately $10.8 million, reducing her ownership by 16.38%.
• Credit Acceptance's stock recently decreased by 1.8% and reported earnings per share of $8.56 for the last quarter, missing expectations by $1.28.

Petrus Trust Company LTA acquired a new stake in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 579 shares of the credit services provider's stock, valued at approximately $299,000.

Other large investors have also made changes to their positions in the company. Sierra Ocean LLC purchased a new position in shares of Credit Acceptance in the first quarter valued at about $26,000. CX Institutional bought a new stake in shares of Credit Acceptance in the first quarter worth about $36,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Credit Acceptance in the first quarter worth about $44,000. Harbor Capital Advisors Inc. bought a new stake in shares of Credit Acceptance in the first quarter worth about $49,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Credit Acceptance by 13,400.0% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 135 shares of the credit services provider's stock worth $64,000 after purchasing an additional 134 shares during the last quarter. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

Credit Acceptance Price Performance

Shares of CACC stock traded down $50.56 during trading hours on Friday, hitting $474.44. The stock had a trading volume of 272,614 shares, compared to its average volume of 110,320. Credit Acceptance Corporation has a one year low of $414.15 and a one year high of $560.00. 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 stock's 50-day moving average price is $500.25 and its two-hundred day moving average price is $495.26. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 13.68 and a beta of 1.25.

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 (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 firm had revenue of $583.80 million during the quarter, compared to the consensus estimate of $583.30 million. During the same period last year, the firm posted $10.29 earnings per share. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts forecast that Credit Acceptance Corporation will post 53.24 EPS for the current year.

Insider Buying and Selling

In other Credit Acceptance news, major shareholder Jill Foss Watson sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $539.97, for a total transaction of $10,799,400.00. Following the sale, the insider directly owned 102,107 shares of the company's stock, valued at $55,134,716.79. The trade was a 16.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $189,483.75. Following the sale, the insider directly owned 25,478 shares in the company, valued at $12,873,778.62. The trade was a 1.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,072 shares of company stock valued at $15,943,779. Insiders own 6.60% of the company's stock.

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.