964 Shares in Credit Acceptance Corporation $CACC Bought by Voleon Capital Management LP

Key Points

• Voleon Capital Management LP has acquired a new stake in Credit Acceptance Corporation, purchasing 964 shares valued at approximately $498,000, as reported in its latest SEC filing.
• Insider Daniel A. Ulatowski sold 2,139 shares of Credit Acceptance for over $1 million, indicating a 7.03% decrease in his ownership, reflecting notable insider activity within the company.
• The stock price of Credit Acceptance has increased by 1.1%, with the company reporting a revenue increase of 8.5% year-over-year despite missing EPS estimates in its latest earnings report.

Voleon Capital Management LP purchased a new stake in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 964 shares of the credit services provider's stock, valued at approximately $498,000.

Other institutional investors have also added to or reduced their stakes in the company. Sierra Ocean LLC acquired a new position in Credit Acceptance during the first quarter valued at approximately $26,000. CX Institutional acquired a new position in Credit Acceptance during the first quarter valued at approximately $36,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Credit Acceptance during the first quarter valued at approximately $44,000. Harbor Capital Advisors Inc. acquired a new position in Credit Acceptance during the first quarter valued at approximately $49,000. Finally, Point72 Asia Singapore Pte. Ltd. raised 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 in the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.

Credit Acceptance Price Performance

CACC traded up $18.26 during trading on Monday, hitting $492.70. 55,245 shares of the stock traded hands, compared to its average volume of 115,394. Credit Acceptance Corporation has a twelve month low of $414.15 and a twelve month high of $560.00. The company has a market cap of $5.54 billion, a price-to-earnings ratio of 14.20 and a beta of 1.25. The company has a debt-to-equity ratio of 4.16, a current ratio of 22.03 and a quick ratio of 22.03. The business has a 50 day moving average price of $500.25 and a 200 day moving average price of $495.26.

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

Insider Activity at Credit Acceptance

In other news, insider Andrew K. Rostami sold 375 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $505.29, for a total transaction of $189,483.75. Following the completion of the transaction, the insider directly owned 25,478 shares in the company, valued at approximately $12,873,778.62. This represents a 1.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel A. Ulatowski sold 2,139 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $509.05, for a total transaction of $1,088,857.95. Following the transaction, the insider owned 28,290 shares of the company's stock, valued at $14,401,024.50. This trade represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,072 shares of company stock valued at $15,943,779 over the last three months. 6.60% of the stock is currently 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.