Sequoia Financial Advisors LLC Makes New $4.33 Million Investment in Credit Acceptance Corporation (NASDAQ:CACC)

Sequoia Financial Advisors LLC bought a new stake in shares of Credit Acceptance Corporation (NASDAQ:CACC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,384 shares of the credit services provider's stock, valued at approximately $4,329,000. Sequoia Financial Advisors LLC owned approximately 0.07% of Credit Acceptance as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Gamco Investors INC. ET AL boosted its position in shares of Credit Acceptance by 5.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,185 shares of the credit services provider's stock valued at $1,026,000 after purchasing an additional 110 shares during the period. Bridgewater Associates LP lifted its stake in Credit Acceptance by 268.2% during the fourth quarter. Bridgewater Associates LP now owns 8,354 shares of the credit services provider's stock valued at $3,922,000 after buying an additional 6,085 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Credit Acceptance by 7.9% in the fourth quarter. Northern Trust Corp now owns 37,772 shares of the credit services provider's stock worth $17,732,000 after buying an additional 2,773 shares during the period. CX Institutional purchased a new position in shares of Credit Acceptance in the first quarter worth approximately $36,000. Finally, Corient Private Wealth LLC raised its holdings in shares of Credit Acceptance by 7.2% during the fourth quarter. Corient Private Wealth LLC now owns 1,030 shares of the credit services provider's stock valued at $484,000 after acquiring an additional 69 shares during the period. 81.71% of the stock is owned by institutional investors and hedge funds.

Credit Acceptance Trading Up 3.9%

Shares of NASDAQ:CACC traded up $19.98 during mid-day trading on Tuesday, hitting $529.41. The stock had a trading volume of 199,923 shares, compared to its average volume of 86,750. The company's 50 day moving average is $493.92 and its 200-day moving average is $490.75. Credit Acceptance Corporation has a 12-month low of $409.22 and a 12-month high of $614.96. 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 company has a market cap of $6.14 billion, a PE ratio of 22.59 and a beta of 1.15.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its earnings results on Wednesday, April 30th. The credit services provider reported $9.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $10.31 by ($0.96). The business had revenue of $571.10 million during the quarter, compared to analysts' expectations of $570.25 million. Credit Acceptance had a net margin of 13.03% and a return on equity of 28.60%. Credit Acceptance's revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $9.28 EPS. On average, sell-side analysts predict that Credit Acceptance Corporation will post 53.24 EPS for the current year.

Insider Activity

In other news, 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 value of $189,483.75. Following the completion of the sale, the insider directly owned 25,478 shares of the company's stock, valued at $12,873,778.62. This represents a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel A. Ulatowski sold 6,356 shares of the firm'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 transaction of $3,318,848.96. Following the sale, the insider owned 28,290 shares of the company's stock, valued at approximately $14,771,906.40. This represents a 18.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.

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.