Credit Acceptance (NASDAQ:CACC) CEO Kenneth Booth Sells 4,000 Shares

Key Points

• Credit Acceptance CEO Kenneth Booth sold 4,000 shares of the company's stock for a total of $2,026,360, resulting in a 5.55% decrease in his ownership stake.
• The company's latest quarterly earnings report showed $8.56 earnings per share, missing analysts' estimates by ($1.28), but revenue increased by 8.5% year-over-year.
• Institutional investors own 81.71% of Credit Acceptance's stock, with several recent new positions being established by firms like Sierra Ocean LLC and CWM LLC.

Credit Acceptance Corporation (NASDAQ:CACC - Get Free Report) CEO Kenneth Booth sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $506.59, for a total transaction of $2,026,360.00. Following the transaction, the chief executive officer owned 68,116 shares in the company, valued at $34,506,884.44. The trade was a 5.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Credit Acceptance Trading Up 0.5%

NASDAQ:CACC traded up $2.55 on Tuesday, hitting $498.92. The stock had a trading volume of 17,738 shares, compared to its average volume of 115,357. 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 stock has a market cap of $5.61 billion, a price-to-earnings ratio of 14.38 and a beta of 1.25. The company has a fifty day moving average price of $497.78 and a two-hundred day moving average price of $496.13. Credit Acceptance Corporation has a 1-year low of $414.15 and a 1-year high of $560.00.

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

Institutional Trading of Credit Acceptance

Several institutional investors and hedge funds have recently bought and sold shares of the business. Beck Mack & Oliver LLC raised its position in Credit Acceptance by 1.0% during the 1st quarter. Beck Mack & Oliver LLC now owns 394,972 shares of the credit services provider's stock worth $203,944,000 after buying an additional 3,734 shares during the last quarter. Smead Capital Management Inc. raised its position in Credit Acceptance by 17.0% during the 2nd quarter. Smead Capital Management Inc. now owns 216,811 shares of the credit services provider's stock worth $110,450,000 after buying an additional 31,438 shares during the last quarter. Alfreton Capital LLP increased its holdings in shares of Credit Acceptance by 11.8% in the 1st quarter. Alfreton Capital LLP now owns 190,000 shares of the credit services provider's stock valued at $98,106,000 after purchasing an additional 20,000 shares in the last quarter. Twin Lions Management LLC increased its holdings in shares of Credit Acceptance by 51.9% in the 2nd quarter. Twin Lions Management LLC now owns 69,051 shares of the credit services provider's stock valued at $35,177,000 after purchasing an additional 23,580 shares in the last quarter. Finally, Khrom Capital Management LLC acquired a new stake in Credit Acceptance in the 1st quarter valued at about $30,639,000. Hedge funds and other institutional investors own 81.71% of the company's stock.

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.