Teacher Retirement System of Texas Takes $794,000 Position in Credit Acceptance Corporation (NASDAQ:CACC)

Teacher Retirement System of Texas bought a new position in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,538 shares of the credit services provider's stock, valued at approximately $794,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CACC. CX Institutional bought a new position in Credit Acceptance in the first quarter worth approximately $36,000. TD Private Client Wealth LLC purchased a new position in Credit Acceptance during the fourth quarter valued at $37,000. Farther Finance Advisors LLC purchased a new position in Credit Acceptance during the fourth quarter valued at $38,000. Harbor Capital Advisors Inc. bought a new position in Credit Acceptance during the first quarter valued at $49,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted 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 purchasing an additional 134 shares during the last quarter. Institutional investors own 81.71% of the company's stock.

Credit Acceptance Trading Down 1.1%

Shares of Credit Acceptance stock traded down $5.50 during trading on Friday, hitting $499.56. The stock had a trading volume of 29,202 shares, compared to its average volume of 90,346. The firm's fifty day simple moving average is $502.30 and its 200-day simple moving average is $494.69. The stock has a market cap of $5.79 billion, a PE ratio of 21.31 and a beta of 1.15. The company has a debt-to-equity ratio of 3.92, a current ratio of 17.64 and a quick ratio of 17.64. Credit Acceptance Corporation has a 12 month low of $409.22 and a 12 month high of $614.40.

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

Insider Activity at Credit Acceptance

In other news, major shareholder Jill Foss Watson sold 20,000 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $539.97, for a total value of $10,799,400.00. Following the completion of the sale, the insider owned 102,107 shares in the company, valued at approximately $55,134,716.79. The trade was a 16.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel A. Ulatowski sold 6,356 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $522.16, for a total transaction of $3,318,848.96. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 26,731 shares of company stock worth $14,307,733 in the last 90 days. 5.30% of the stock is owned by corporate insiders.

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.