Nicholas J. Elliott Sells 300 Shares of Credit Acceptance Co. (NASDAQ:CACC) Stock

Credit Acceptance Co. (NASDAQ:CACC) insider Nicholas J. Elliott sold 300 shares of Credit Acceptance stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $502.00, for a total value of $150,600.00. Following the sale, the insider now directly owns 19,385 shares in the company, valued at $9,731,270. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Credit Acceptance Stock Up 0.5 %

Shares of NASDAQ:CACC opened at $514.57 on Wednesday. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 25.91 and a beta of 1.51. Credit Acceptance Co. has a 12 month low of $409.22 and a 12 month high of $614.96. The company has a current ratio of 20.33, a quick ratio of 20.33 and a debt-to-equity ratio of 3.63. The company has a 50-day moving average price of $499.07 and a 200 day moving average price of $473.66.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Thursday, January 30th. The credit services provider reported $10.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.70 by $2.47. Credit Acceptance had a return on equity of 29.01% and a net margin of 11.46%. As a group, equities research analysts predict that Credit Acceptance Co. will post 53.24 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Jefferies Financial Group Inc. purchased a new position in shares of Credit Acceptance during the 4th quarter worth about $206,000. Ascent Group LLC boosted its position in shares of Credit Acceptance by 6.8% during the fourth quarter. Ascent Group LLC now owns 6,612 shares of the credit services provider’s stock valued at $3,104,000 after buying an additional 423 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Credit Acceptance in the fourth quarter worth approximately $297,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Credit Acceptance by 8.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,986 shares of the credit services provider’s stock worth $10,791,000 after buying an additional 1,770 shares during the period. Finally, Voloridge Investment Management LLC lifted its stake in shares of Credit Acceptance by 16.1% during the 4th quarter. Voloridge Investment Management LLC now owns 22,032 shares of the credit services provider’s stock worth $10,343,000 after acquiring an additional 3,052 shares during the last quarter. Institutional investors own 81.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CACC shares. StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Stephens raised their target price on shares of Credit Acceptance from $452.00 to $500.00 and gave the company an “equal weight” rating in a report on Friday, January 31st.

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.