Credit Acceptance Co. (NASDAQ:CACC) COO Jonathan Lum Sells 552 Shares of Stock

Credit Acceptance Co. (NASDAQ:CACC) COO Jonathan Lum sold 552 shares of Credit Acceptance stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total transaction of $270,424.80. Following the transaction, the chief operating officer now owns 31,493 shares in the company, valued at $15,428,420.70. The trade was a 1.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Credit Acceptance Trading Down 1.7 %

Shares of NASDAQ:CACC opened at $460.99 on Friday. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79. The company’s 50-day moving average price is $467.20 and its 200 day moving average price is $479.51. The company has a market cap of $5.58 billion, a PE ratio of 30.96 and a beta of 1.46. Credit Acceptance Co. has a fifty-two week low of $409.22 and a fifty-two week high of $616.66.

Credit Acceptance (NASDAQ:CACC) last issued its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.88 by $0.91. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The business had revenue of $550.30 million during the quarter, compared to analyst estimates of $548.13 million. During the same period in the prior year, the company posted $10.70 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. Sell-side analysts anticipate that Credit Acceptance Co. will post 36.54 earnings per share for the current year.

Institutional Trading of Credit Acceptance

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Abrams Bison Investments LLC raised its position in Credit Acceptance by 30.5% in the third quarter. Abrams Bison Investments LLC now owns 228,306 shares of the credit services provider’s stock worth $101,235,000 after acquiring an additional 53,306 shares in the last quarter. Smead Capital Management Inc. raised its position in Credit Acceptance by 3.5% during the third quarter. Smead Capital Management Inc. now owns 207,828 shares of the credit services provider’s stock valued at $92,155,000 after buying an additional 7,012 shares during the period. Dimensional Fund Advisors LP lifted its stake in Credit Acceptance by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 179,655 shares of the credit services provider’s stock worth $92,455,000 after acquiring an additional 7,064 shares in the last quarter. MIG Capital LLC increased its holdings in shares of Credit Acceptance by 18.7% in the 3rd quarter. MIG Capital LLC now owns 116,491 shares of the credit services provider’s stock valued at $51,654,000 after purchasing an additional 18,351 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Credit Acceptance by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 111,379 shares of the credit services provider’s stock valued at $49,401,000 after buying an additional 2,522 shares during the period. 81.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CACC has been the subject of a number of analyst reports. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Stephens initiated coverage on Credit Acceptance in a report on Wednesday, November 13th. They set an “equal weight” rating and a $452.00 target price on the stock. Finally, TD Cowen dropped their target price on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a report on Friday, November 1st.

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.