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

Other institutional investors have also recently bought and sold shares of the company. Sierra Ocean LLC bought a new stake in shares of Credit Acceptance in the 1st quarter worth $26,000. CX Institutional bought a new position in Credit Acceptance during the first quarter valued at about $36,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Credit Acceptance during the first quarter valued at about $44,000. Harbor Capital Advisors Inc. bought a new position in Credit Acceptance during the first quarter valued at about $49,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in 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 buying an additional 134 shares during the period. Institutional investors and hedge funds own 81.71% of the company's stock.

Credit Acceptance Stock Performance

CACC traded down $50.56 during trading on Friday, hitting $474.44. 272,614 shares of the company traded hands, compared to its average volume of 101,336. The firm has a market cap of $5.33 billion, a P/E ratio of 13.68 and a beta of 1.25. The stock's fifty day moving average is $500.25 and its 200 day moving average is $495.03. 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 Corporation has a one year low of $414.15 and a one year high of $560.00.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last posted its quarterly 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). The company had revenue of $583.80 million for the quarter, compared to the consensus estimate of $583.30 million. Credit Acceptance had a net margin of 18.69% and a return on equity of 27.06%. Credit Acceptance's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.29 EPS. As a group, equities analysts predict that Credit Acceptance Corporation will post 53.24 EPS for the current fiscal year.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, COO Jonathan Lum sold 6,000 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $512.61, for a total transaction of $3,075,660.00. Following the completion of the transaction, the chief operating officer owned 31,493 shares in the company, valued at $16,143,626.73. This trade represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Jill Foss Watson sold 20,000 shares of the stock in a transaction dated 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 transaction, the insider owned 102,107 shares of the company's stock, valued at $55,134,716.79. This represents a 16.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,072 shares of company stock worth $15,943,779 over the last ninety days. Company insiders own 6.60% of the company's stock.

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.