Vanguard Group Inc. Decreases Position in Credit Acceptance Corporation $CACC

Key Points

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Vanguard Group Inc. decreased its stake in shares of Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 0.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 483,414 shares of the credit services provider's stock after selling 3,414 shares during the quarter. Vanguard Group Inc. owned about 4.17% of Credit Acceptance worth $249,611,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Alfreton Capital LLP raised its stake in Credit Acceptance by 11.8% during the first quarter. Alfreton Capital LLP now owns 190,000 shares of the credit services provider's stock valued at $98,106,000 after buying an additional 20,000 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Credit Acceptance by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 183,203 shares of the credit services provider's stock valued at $86,004,000 after purchasing an additional 1,318 shares during the period. London Co. of Virginia bought a new stake in Credit Acceptance during the fourth quarter valued at about $48,148,000. Crow s Nest Holdings LP bought a new stake in Credit Acceptance during the fourth quarter valued at about $35,210,000. Finally, JARISLOWSKY FRASER Ltd grew its holdings in Credit Acceptance by 12.5% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 73,135 shares of the credit services provider's stock valued at $33,142,000 after purchasing an additional 8,153 shares during the period. Hedge funds and other institutional investors own 81.71% of the company's stock.

Credit Acceptance Stock Performance

NASDAQ:CACC traded up $24.25 during mid-day trading on Friday, hitting $506.49. 142,232 shares of the company traded hands, compared to its average volume of 108,880. The stock's fifty day moving average price is $499.62 and its 200-day moving average price is $494.41. Credit Acceptance Corporation has a one year low of $409.22 and a one year high of $560.00. The company has a quick ratio of 22.03, a current ratio of 22.03 and a debt-to-equity ratio of 4.16. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 14.60 and a beta of 1.13.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The credit services provider reported $8.56 earnings per share for the quarter, missing analysts' consensus estimates of $9.84 by ($1.28). The business had revenue of $583.80 million during the quarter, compared to the consensus estimate of $583.30 million. Credit Acceptance had a return on equity of 27.06% and a net margin of 18.69%.The business's revenue was up 8.5% on a year-over-year basis. During the same period last year, the company earned $10.29 EPS. Research analysts anticipate that Credit Acceptance Corporation will post 53.24 earnings per share for the current fiscal year.

Insider Transactions at Credit Acceptance

In other news, insider Andrew K. Rostami sold 375 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $505.29, for a total value of $189,483.75. Following the completion of the transaction, the insider 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 legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel A. Ulatowski sold 6,356 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $522.16, for a total value of $3,318,848.96. Following the completion of the transaction, the insider directly owned 28,290 shares of the company's stock, valued at approximately $14,771,906.40. This trade represents a 18.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,731 shares of company stock valued at $14,307,733 over the last 90 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.