Credit Acceptance (NASDAQ:CACC) CFO Jay Martin Sells 4,340 Shares of Stock

Credit Acceptance Corporation (NASDAQ:CACC) CFO Jay Martin sold 4,340 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $512.55, for a total transaction of $2,224,467.00. Following the completion of the sale, the chief financial officer owned 25,963 shares of the company’s stock, valued at approximately $13,307,335.65. The trade was a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Credit Acceptance Stock Performance

NASDAQ:CACC opened at $510.71 on Thursday. The company has a market cap of $5.63 billion, a P/E ratio of 13.99 and a beta of 1.27. The firm’s 50 day moving average is $466.96 and its two-hundred day moving average is $474.26. Credit Acceptance Corporation has a fifty-two week low of $401.90 and a fifty-two week high of $549.75. The company has a quick ratio of 15.81, a current ratio of 15.81 and a debt-to-equity ratio of 3.94.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Thursday, January 29th. The credit services provider reported $11.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.30 by $1.05. The company had revenue of $408.20 million during the quarter, compared to analysts’ expectations of $582.63 million. Credit Acceptance had a net margin of 18.29% and a return on equity of 28.46%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $10.17 EPS. Analysts expect that Credit Acceptance Corporation will post 53.24 EPS for the current year.

Institutional Investors Weigh In On Credit Acceptance

Several hedge funds have recently modified their holdings of CACC. Global Retirement Partners LLC boosted its stake in Credit Acceptance by 2.7% during the 3rd quarter. Global Retirement Partners LLC now owns 882 shares of the credit services provider’s stock valued at $412,000 after purchasing an additional 23 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Credit Acceptance by 4.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 571 shares of the credit services provider’s stock valued at $253,000 after buying an additional 25 shares during the period. Russell Investments Group Ltd. boosted its stake in Credit Acceptance by 5.3% during the third quarter. Russell Investments Group Ltd. now owns 721 shares of the credit services provider’s stock valued at $337,000 after buying an additional 36 shares in the last quarter. Greenline Partners LLC grew its holdings in Credit Acceptance by 0.3% during the third quarter. Greenline Partners LLC now owns 13,450 shares of the credit services provider’s stock worth $6,280,000 after acquiring an additional 36 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Credit Acceptance by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 1,929 shares of the credit services provider’s stock worth $983,000 after acquiring an additional 38 shares during the period. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CACC has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Credit Acceptance in a report on Wednesday, January 21st. TD Cowen increased their target price on shares of Credit Acceptance from $460.00 to $470.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Finally, Zacks Research upgraded shares of Credit Acceptance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Credit Acceptance currently has an average rating of “Moderate Buy” and an average price target of $470.00.

Credit Acceptance Company Profile

Credit Acceptance Corporation, founded in 1972 and headquartered in Southfield, Michigan, is a specialty finance company focused on the indirect automotive lending market. The company partners with independent and franchised auto dealers to facilitate purchase financing for consumers who may not qualify for traditional prime auto loans. By purchasing retail installment contracts originated by these dealers, Credit Acceptance provides capital and credit insurance to support vehicle sales, enabling dealers to broaden their customer base and reduce credit risk.

Through its proprietary underwriting platform and risk management strategies, Credit Acceptance evaluates borrower applications, structures credit plans, and retains servicing rights on the acquired contracts.