Credit Acceptance Corp. (CACC) Major Shareholder Sells $9,937,471.54 in Stock

Credit Acceptance Corp. (NASDAQ:CACC) major shareholder Jill Foss Watson sold 30,038 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $330.83, for a total transaction of $9,937,471.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Tuesday, December 26th, Jill Foss Watson sold 18,106 shares of Credit Acceptance stock. The stock was sold at an average price of $326.06, for a total transaction of $5,903,642.36.
  • On Thursday, December 28th, Jill Foss Watson sold 35,318 shares of Credit Acceptance stock. The stock was sold at an average price of $326.14, for a total transaction of $11,518,612.52.
  • On Tuesday, December 19th, Jill Foss Watson sold 31,463 shares of Credit Acceptance stock. The stock was sold at an average price of $335.06, for a total transaction of $10,541,992.78.

Credit Acceptance Corp. (NASDAQ CACC) opened at $340.99 on Friday. Credit Acceptance Corp. has a fifty-two week low of $182.50 and a fifty-two week high of $344.21. The company has a debt-to-equity ratio of 2.12, a current ratio of 17.63 and a quick ratio of 17.63. The company has a market cap of $6,584.52, a PE ratio of 16.96, a PEG ratio of 1.04 and a beta of 0.54.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings results on Monday, October 30th. The credit services provider reported $5.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.15 by $0.28. The business had revenue of $283.90 million during the quarter, compared to analyst estimates of $281.03 million. Credit Acceptance had a net margin of 35.29% and a return on equity of 32.08%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the business posted $4.53 EPS. analysts anticipate that Credit Acceptance Corp. will post 20.74 earnings per share for the current fiscal year.

CACC has been the subject of several research analyst reports. Credit Suisse Group reissued a “sell” rating and issued a $270.00 target price on shares of Credit Acceptance in a research report on Monday, January 8th. Jefferies Group reissued a “hold” rating and issued a $260.00 target price (up previously from $240.00) on shares of Credit Acceptance in a research report on Tuesday, October 10th. Zacks Investment Research downgraded shares of Credit Acceptance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. BidaskClub raised shares of Credit Acceptance from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 12th. Finally, Stephens set a $257.00 price target on shares of Credit Acceptance and gave the company a “sell” rating in a report on Wednesday, January 3rd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $263.50.

Institutional investors have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. boosted its stake in Credit Acceptance by 437.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 537 shares of the credit services provider’s stock valued at $150,000 after purchasing an additional 437 shares during the period. SG Americas Securities LLC boosted its stake in Credit Acceptance by 102.8% during the 2nd quarter. SG Americas Securities LLC now owns 618 shares of the credit services provider’s stock valued at $159,000 after purchasing an additional 22,463 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Credit Acceptance by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 619 shares of the credit services provider’s stock valued at $159,000 after purchasing an additional 40 shares during the period. Rathbone Brothers plc acquired a new position in Credit Acceptance during the 3rd quarter valued at about $210,000. Finally, First Capital Advisors Group LLC. acquired a new position in Credit Acceptance during the 3rd quarter valued at about $233,000. 70.69% of the stock is owned by hedge funds and other institutional investors.

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About Credit Acceptance

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 (NASDAQ:CACC)

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