Insider Selling: Credit Acceptance Co. (NASDAQ:CACC) Insider Sells $1,431,450.00 in Stock

Credit Acceptance Co. (NASDAQ:CACC) insider Douglas W. Busk sold 2,500 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $572.58, for a total value of $1,431,450.00. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $1,781,868.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Credit Acceptance Price Performance

CACC opened at $551.60 on Thursday. The stock has a 50-day moving average price of $552.99 and a 200-day moving average price of $497.03. The company has a debt-to-equity ratio of 2.84, a current ratio of 15.71 and a quick ratio of 15.71. The firm has a market cap of $6.78 billion, a PE ratio of 25.05 and a beta of 1.46. Credit Acceptance Co. has a 1 year low of $379.77 and a 1 year high of $616.66.

Credit Acceptance (NASDAQ:CACC) last released its quarterly earnings data on Wednesday, January 31st. The credit services provider reported $10.06 EPS for the quarter, topping the consensus estimate of $9.17 by $0.89. Credit Acceptance had a return on equity of 30.94% and a net margin of 15.04%. The company had revenue of $491.60 million during the quarter, compared to the consensus estimate of $478.80 million. Sell-side analysts predict that Credit Acceptance Co. will post 41.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on CACC. TheStreet raised Credit Acceptance from a “c+” rating to a “b-” rating in a research report on Wednesday, December 13th. StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Credit Acceptance presently has a consensus rating of “Hold” and a consensus price target of $381.75.

Institutional Investors Weigh In On Credit Acceptance

Several large investors have recently bought and sold shares of CACC. AdvisorNet Financial Inc bought a new stake in Credit Acceptance in the 3rd quarter worth about $46,000. NewEdge Advisors LLC increased its holdings in Credit Acceptance by 289.7% in the 1st quarter. NewEdge Advisors LLC now owns 113 shares of the credit services provider’s stock worth $49,000 after buying an additional 84 shares in the last quarter. KBC Group NV bought a new stake in Credit Acceptance in the 4th quarter worth about $63,000. Whittier Trust Co. bought a new stake in shares of Credit Acceptance during the 4th quarter valued at about $74,000. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Credit Acceptance by 217.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 146 shares of the credit services provider’s stock valued at $78,000 after purchasing an additional 100 shares during the period. 81.71% of the stock is currently owned by institutional investors.

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.