Credit Acceptance (NASDAQ:CACC) Insider Wendy Rummler Sells 5,236 Shares

Credit Acceptance Corporation (NASDAQ:CACC) insider Wendy Rummler sold 5,236 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $493.44, for a total transaction of $2,583,651.84. Following the transaction, the insider directly owned 20,772 shares in the company, valued at approximately $10,249,735.68. This represents a 20.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Credit Acceptance Price Performance

Shares of NASDAQ:CACC opened at $507.26 on Thursday. The company has a quick ratio of 15.81, a current ratio of 15.81 and a debt-to-equity ratio of 3.94. The stock has a market cap of $5.60 billion, a PE ratio of 13.90 and a beta of 1.27. The company’s fifty day moving average is $462.71 and its 200 day moving average is $474.72. Credit Acceptance Corporation has a 52 week low of $401.90 and a 52 week high of $549.75.

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 analysts’ consensus estimates of $10.30 by $1.05. The firm had revenue of $408.20 million for the quarter, compared to analysts’ expectations of $582.63 million. Credit Acceptance had a return on equity of 28.46% and a net margin of 18.29%.The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $10.17 earnings per share. Research analysts anticipate that Credit Acceptance Corporation will post 53.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CACC shares. TD Cowen lifted their price target on Credit Acceptance from $460.00 to $470.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Credit Acceptance in a research note on Wednesday, January 21st. Finally, Zacks Research upgraded shares of Credit Acceptance from a “hold” rating to a “strong-buy” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $470.00.

Hedge Funds Weigh In On Credit Acceptance

Several hedge funds have recently made changes to their positions in the business. Allworth Financial LP lifted its stake in Credit Acceptance by 141.9% in the third quarter. Allworth Financial LP now owns 104 shares of the credit services provider’s stock worth $49,000 after acquiring an additional 61 shares during the period. Vestcor Inc bought a new position in Credit Acceptance in the 3rd quarter worth $50,000. Farther Finance Advisors LLC raised its holdings in Credit Acceptance by 20,200.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 203 shares of the credit services provider’s stock worth $95,000 after purchasing an additional 202 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Credit Acceptance in the 2nd quarter worth about $150,000. Finally, CFC Planning Co LLC purchased a new stake in shares of Credit Acceptance in the 3rd quarter worth about $209,000. 81.71% of the stock is owned by hedge funds and other institutional investors.

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.