Credit Acceptance (NASDAQ:CACC) Shares Gap Down to $513.72

Credit Acceptance Co. (NASDAQ:CACC - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $513.72, but opened at $490.54. Credit Acceptance shares last traded at $489.92, with a volume of 16,356 shares traded.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $381.75.

Credit Acceptance Trading Down 4.1 %

The stock's 50 day moving average price is $545.71 and its 200-day moving average price is $509.82. The company has a quick ratio of 15.71, a current ratio of 15.71 and a debt-to-equity ratio of 2.84. The stock has a market capitalization of $6.06 billion, a PE ratio of 22.22 and a beta of 1.45.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $9.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.81 by $2.47. The firm had revenue of $508.00 million during the quarter, compared to analysts' expectations of $497.71 million. Credit Acceptance had a net margin of 15.04% and a return on equity of 30.94%. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $9.71 earnings per share. On average, sell-side analysts expect that Credit Acceptance Co. will post 40.95 earnings per share for the current fiscal year.

Insider Activity at Credit Acceptance

In related news, insider Douglas W. Busk sold 500 shares of the firm's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $579.98, for a total transaction of $289,990.00. Following the completion of the transaction, the insider now directly owns 3,112 shares of the company's stock, valued at $1,804,897.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Credit Acceptance news, insider Douglas W. Busk sold 500 shares of Credit Acceptance stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $579.98, for a total value of $289,990.00. Following the completion of the transaction, the insider now directly owns 3,112 shares of the company's stock, valued at approximately $1,804,897.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas W. Busk sold 2,500 shares of Credit Acceptance stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $572.58, for a total transaction of $1,431,450.00. Following the completion of the transaction, the insider now directly owns 3,112 shares of the company's stock, valued at $1,781,868.96. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Credit Acceptance

Institutional investors have recently made changes to their positions in the company. Whittier Trust Co. bought a new stake in shares of Credit Acceptance in the 4th quarter worth about $74,000. National Bank of Canada FI lifted its holdings in shares of Credit Acceptance by 242.3% in the 4th quarter. National Bank of Canada FI now owns 243 shares of the credit services provider's stock worth $131,000 after acquiring an additional 172 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Credit Acceptance by 15.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 338 shares of the credit services provider's stock worth $180,000 after acquiring an additional 46 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Credit Acceptance in the 4th quarter worth about $210,000. Finally, Beacon Pointe Advisors LLC bought a new stake in shares of Credit Acceptance in the 4th quarter worth about $211,000. 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.