Teacher Retirement System of Texas Purchases New Position in Credit Acceptance Corporation (NASDAQ:CACC)

Teacher Retirement System of Texas acquired a new position in shares of Credit Acceptance Corporation (NASDAQ:CACC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,538 shares of the credit services provider's stock, valued at approximately $794,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CX Institutional purchased a new position in shares of Credit Acceptance in the 1st quarter worth approximately $36,000. TD Private Client Wealth LLC purchased a new stake in shares of Credit Acceptance in the fourth quarter valued at $37,000. Farther Finance Advisors LLC bought a new stake in shares of Credit Acceptance in the 4th quarter worth about $38,000. Harbor Capital Advisors Inc. purchased a new position in shares of Credit Acceptance during the 1st quarter worth about $49,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Credit Acceptance by 13,400.0% during the 4th 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 period. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

Credit Acceptance Trading Up 0.6%

Credit Acceptance stock traded up $3.18 during midday trading on Thursday, reaching $505.06. The stock had a trading volume of 101,405 shares, compared to its average volume of 90,447. The company has a quick ratio of 17.64, a current ratio of 17.64 and a debt-to-equity ratio of 3.92. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 21.55 and a beta of 1.15. Credit Acceptance Corporation has a 52-week low of $409.22 and a 52-week high of $614.96. The company has a fifty day moving average of $502.07 and a 200 day moving average of $494.41.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its earnings results on Wednesday, April 30th. The credit services provider reported $9.35 EPS 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 business had revenue of $571.10 million for the quarter, compared to the consensus estimate of $570.25 million. During the same period in the prior year, the company posted $9.28 EPS. The company's quarterly revenue was up 12.4% compared to the same quarter last year. On average, analysts anticipate that Credit Acceptance Corporation will post 53.24 earnings per share for the current fiscal year.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, insider Andrew K. Rostami sold 375 shares of the stock in a transaction 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 owned 25,478 shares in the company, valued at $12,873,778.62. This trade represents a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Jill Foss Watson sold 20,000 shares of Credit Acceptance stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $539.97, for a total value of $10,799,400.00. Following the sale, the insider owned 102,107 shares of the company's stock, valued at approximately $55,134,716.79. This trade represents a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,731 shares of company stock worth $14,307,733 in the last quarter. 5.30% of the stock is owned by company insiders.

Credit Acceptance 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.