Credit Acceptance Co. (NASDAQ:CACC – Get Free Report) insider Douglas W. Busk sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $572.58, for a total transaction of $1,431,450.00. Following the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $1,781,868.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Credit Acceptance Stock Performance
Credit Acceptance stock opened at $551.60 on Thursday. The stock has a market cap of $6.78 billion, a P/E ratio of 25.05 and a beta of 1.46. The company has a current ratio of 15.71, a quick ratio of 15.71 and a debt-to-equity ratio of 2.84. The stock has a 50 day moving average of $552.99 and a 200-day moving average of $497.03. Credit Acceptance Co. has a 52 week low of $379.77 and a 52 week high of $616.66.
Credit Acceptance (NASDAQ:CACC – Get Free Report) last released its earnings results on Wednesday, January 31st. The credit services provider reported $10.06 EPS for the quarter, beating the consensus estimate of $9.17 by $0.89. The company had revenue of $491.60 million during the quarter, compared to analysts’ expectations of $478.80 million. Credit Acceptance had a return on equity of 30.94% and a net margin of 15.04%. On average, analysts expect that Credit Acceptance Co. will post 41.06 EPS for the current fiscal year.
Hedge Funds Weigh In On Credit Acceptance
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on CACC shares. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. TheStreet raised shares of Credit Acceptance from a “c+” rating to a “b-” rating in a research report on Wednesday, December 13th. One 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $381.75.
Check Out Our Latest Report on CACC
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.
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