Credit Acceptance Co. (NASDAQ:CACC) Insider Nicholas J. Elliott Sells 300 Shares

Credit Acceptance Co. (NASDAQ:CACC) insider Nicholas J. Elliott sold 300 shares of Credit Acceptance stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $502.00, for a total transaction of $150,600.00. Following the completion of the sale, the insider now owns 19,385 shares of the company’s stock, valued at $9,731,270. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Credit Acceptance Stock Performance

NASDAQ:CACC opened at $512.02 on Tuesday. The firm has a market capitalization of $6.16 billion, a PE ratio of 25.78 and a beta of 1.51. The company has a debt-to-equity ratio of 3.63, a current ratio of 20.33 and a quick ratio of 20.33. The business’s fifty day moving average price is $498.02 and its 200 day moving average price is $473.15. Credit Acceptance Co. has a 12 month low of $409.22 and a 12 month high of $614.96.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings results on Thursday, January 30th. The credit services provider reported $10.17 EPS for the quarter, beating the consensus estimate of $7.70 by $2.47. Credit Acceptance had a net margin of 11.46% and a return on equity of 29.01%. On average, sell-side analysts anticipate that Credit Acceptance Co. will post 53.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new position in Credit Acceptance during the 4th quarter worth $28,000. First Horizon Advisors Inc. acquired a new position in shares of Credit Acceptance during the 4th quarter worth approximately $34,000. TD Private Client Wealth LLC acquired a new position in shares of Credit Acceptance during the 4th quarter valued at about $37,000. Farther Finance Advisors LLC purchased a new stake in Credit Acceptance during the fourth quarter valued at about $38,000. Finally, Quest Partners LLC increased its holdings in Credit Acceptance by 11,900.0% in the 3rd quarter. Quest Partners LLC now owns 120 shares of the credit services provider’s stock valued at $53,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Analyst Upgrades and Downgrades

CACC has been the topic of several research reports. Stephens increased their price target on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

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.