Credit Acceptance Corporation (NASDAQ:CACC) major shareholder Jill Foss Watson sold 29,956 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $270.81, for a total transaction of $8,112,384.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Jill Foss Watson also recently made the following trade(s):

  • On Thursday, August 3rd, Jill Foss Watson sold 47,303 shares of Credit Acceptance Corporation stock. The stock was sold at an average price of $270.75, for a total transaction of $12,807,287.25.
  • On Wednesday, August 2nd, Jill Foss Watson sold 35,348 shares of Credit Acceptance Corporation stock. The shares were sold at an average price of $275.69, for a total transaction of $9,745,090.12.
  • On Tuesday, August 1st, Jill Foss Watson sold 35,751 shares of Credit Acceptance Corporation stock. The shares were sold at an average price of $270.82, for a total transaction of $9,682,085.82.
  • On Thursday, June 8th, Jill Foss Watson sold 4,947 shares of Credit Acceptance Corporation stock. The shares were sold at an average price of $225.63, for a total transaction of $1,116,191.61.
  • On Tuesday, June 6th, Jill Foss Watson sold 19,433 shares of Credit Acceptance Corporation stock. The shares were sold at an average price of $221.99, for a total transaction of $4,313,931.67.
  • On Wednesday, June 7th, Jill Foss Watson sold 19,424 shares of Credit Acceptance Corporation stock. The shares were sold at an average price of $225.80, for a total transaction of $4,385,939.20.
  • On Monday, June 5th, Jill Foss Watson sold 21,017 shares of Credit Acceptance Corporation stock. The shares were sold at an average price of $221.99, for a total transaction of $4,665,563.83.
  • On Friday, June 2nd, Jill Foss Watson sold 10,112 shares of Credit Acceptance Corporation stock. The shares were sold at an average price of $219.61, for a total transaction of $2,220,696.32.
  • On Thursday, June 1st, Jill Foss Watson sold 26,051 shares of Credit Acceptance Corporation stock. The shares were sold at an average price of $217.84, for a total transaction of $5,674,949.84.
  • On Thursday, May 25th, Jill Foss Watson sold 16,675 shares of Credit Acceptance Corporation stock. The shares were sold at an average price of $219.42, for a total transaction of $3,658,828.50.

Shares of Credit Acceptance Corporation (CACC) opened at 279.92 on Wednesday. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 15.30 and a beta of 0.51. Credit Acceptance Corporation has a 12 month low of $160.63 and a 12 month high of $281.67. The firm has a 50-day moving average price of $250.91 and a 200-day moving average price of $217.29.

Credit Acceptance Corporation (NASDAQ:CACC) last posted its quarterly earnings results on Monday, July 31st. The credit services provider reported $5.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.89 by $0.33. The company had revenue of $253.20 million for the quarter, compared to the consensus estimate of $268.18 million. Credit Acceptance Corporation had a net margin of 35.13% and a return on equity of 32.24%. Credit Acceptance Corporation’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.38 earnings per share. Equities analysts expect that Credit Acceptance Corporation will post $19.90 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Insider Selling: Credit Acceptance Corporation (CACC) Major Shareholder Sells 29,956 Shares of Stock” was published by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/09/insider-selling-credit-acceptance-corporation-cacc-major-shareholder-sells-29956-shares-of-stock.html.

Several research firms have recently commented on CACC. Zacks Investment Research raised shares of Credit Acceptance Corporation from a “hold” rating to a “buy” rating and set a $310.00 price target on the stock in a research report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $240.00 price target (up previously from $215.00) on shares of Credit Acceptance Corporation in a research report on Tuesday, August 1st. BidaskClub lowered shares of Credit Acceptance Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 6th. JMP Securities reaffirmed an “underperform” rating and set a $195.00 price target (up previously from $180.00) on shares of Credit Acceptance Corporation in a research report on Tuesday, August 1st. Finally, Raymond James Financial, Inc. raised shares of Credit Acceptance Corporation from an “underperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Credit Acceptance Corporation has an average rating of “Hold” and an average target price of $216.56.

A number of institutional investors have recently bought and sold shares of CACC. Russell Investments Group Ltd. increased its position in Credit Acceptance Corporation by 46.1% in the first quarter. Russell Investments Group Ltd. now owns 732 shares of the credit services provider’s stock worth $146,000 after buying an additional 231 shares in the last quarter. SG Americas Securities LLC increased its position in Credit Acceptance Corporation by 102.8% in the second quarter. SG Americas Securities LLC now owns 618 shares of the credit services provider’s stock worth $159,000 after buying an additional 22,463 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Credit Acceptance Corporation during the first quarter worth $177,000. Karp Capital Management Corp bought a new position in Credit Acceptance Corporation during the first quarter worth $244,000. Finally, Gotham Asset Management LLC bought a new position in Credit Acceptance Corporation during the first quarter worth $270,000. 72.50% of the stock is currently owned by institutional investors.

About Credit Acceptance Corporation

Credit Acceptance Corporation offers financing programs that enable automobile dealers to sell vehicles to consumers. The Company’s financing programs are offered through a network of automobile dealers. The Company has two Dealers financing programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, the Company advances money to dealers (Dealer Loan) in exchange for the right to service the underlying consumer loans.

Insider Buying and Selling by Quarter for Credit Acceptance Corporation (NASDAQ:CACC)

Receive News & Ratings for Credit Acceptance Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credit Acceptance Corporation and related companies with MarketBeat.com's FREE daily email newsletter.