Credit Acceptance Co. (NASDAQ:CACC) COO Jonathan Lum Sells 552 Shares

Credit Acceptance Co. (NASDAQ:CACC) COO Jonathan Lum sold 552 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total transaction of $270,424.80. Following the sale, the chief operating officer now directly owns 31,493 shares of the company’s stock, valued at $15,428,420.70. This represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Credit Acceptance Stock Up 0.0 %

NASDAQ:CACC opened at $461.19 on Friday. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. Credit Acceptance Co. has a 1-year low of $409.22 and a 1-year high of $616.66. The company has a 50-day moving average of $467.28 and a 200 day moving average of $479.28. The firm has a market cap of $5.59 billion, a PE ratio of 30.97 and a beta of 1.46.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, topping the consensus estimate of $7.88 by $0.91. The firm had revenue of $550.30 million during the quarter, compared to analysts’ expectations of $548.13 million. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.70 EPS. As a group, research analysts anticipate that Credit Acceptance Co. will post 36.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CACC shares. TD Cowen decreased their price objective on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a report on Friday, November 1st. Stephens began coverage on shares of Credit Acceptance in a research note on Wednesday, November 13th. They set an “equal weight” rating and a $452.00 price target for the company. Finally, StockNews.com raised Credit Acceptance from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th.

Institutional Trading of Credit Acceptance

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. lifted its stake in shares of Credit Acceptance by 4.6% during the 2nd quarter. UMB Bank n.a. now owns 654 shares of the credit services provider’s stock worth $337,000 after purchasing an additional 29 shares during the last quarter. HighTower Advisors LLC raised its holdings in Credit Acceptance by 5.7% in the third quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider’s stock worth $263,000 after purchasing an additional 32 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Credit Acceptance during the second quarter valued at about $51,000. PDT Partners LLC boosted its holdings in shares of Credit Acceptance by 1.9% in the 3rd quarter. PDT Partners LLC now owns 5,458 shares of the credit services provider’s stock valued at $2,420,000 after buying an additional 100 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its position in shares of Credit Acceptance by 4.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 2,617 shares of the credit services provider’s stock worth $1,160,000 after buying an additional 105 shares during the last quarter. Institutional investors own 81.71% of the company’s stock.

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.