Credit Acceptance Corporation (NASDAQ:CACC) traded up 1.02% during midday trading on Thursday, reaching $198.80. The company had a trading volume of 245,684 shares. The company has a 50-day moving average price of $207.85 and a 200-day moving average price of $197.52. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 12.19 and a beta of 0.76. Credit Acceptance Corporation has a one year low of $160.63 and a one year high of $223.57.
Credit Acceptance Corporation (NASDAQ:CACC) major shareholder Donald A. Foss sold 660,000 shares of the stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $194.00, for a total value of $128,040,000.00. Following the completion of the transaction, the insider now owns 3,254,492 shares of the company’s stock, valued at $631,371,448. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Credit Acceptance Corporation (NASDAQ:CACC) last posted its quarterly earnings data on Tuesday, January 31st. The company reported $4.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.26 by $0.53. Credit Acceptance Corporation had a return on equity of 33.44% and a net margin of 34.34%. The firm earned $236.20 million during the quarter, compared to analysts’ expectations of $250.54 million. During the same period in the prior year, the business earned $4.00 EPS. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, equities analysts expect that Credit Acceptance Corporation will post $18.26 earnings per share for the current year.
Several equities analysts have commented on CACC shares. Stephens started coverage on Credit Acceptance Corporation in a research report on Tuesday, November 1st. They issued an “underweight” rating and a $170.00 target price for the company. Susquehanna Bancshares Inc assumed coverage on Credit Acceptance Corporation in a research report on Monday, January 23rd. They set a “neutral” rating and a $226.00 price objective for the company. Credit Suisse Group restated a “sell” rating and set a $190.00 price objective on shares of Credit Acceptance Corporation in a research report on Sunday. Zacks Investment Research upgraded Credit Acceptance Corporation from a “hold” rating to a “buy” rating and set a $186.00 price objective for the company in a research report on Thursday, November 3rd. Finally, Jefferies Group LLC restated a “hold” rating and set a $215.00 price objective on shares of Credit Acceptance Corporation in a research report on Wednesday, January 11th. Five equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Credit Acceptance Corporation currently has a consensus rating of “Hold” and a consensus price target of $182.22.
Institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its stake in shares of Credit Acceptance Corporation by 6.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 39,018 shares of the company’s stock worth $7,222,000 after buying an additional 2,302 shares during the period. Legal & General Group Plc raised its stake in shares of Credit Acceptance Corporation by 4.1% in the second quarter. Legal & General Group Plc now owns 717 shares of the company’s stock worth $133,000 after buying an additional 28 shares during the period. Amalgamated Bank acquired a new stake in shares of Credit Acceptance Corporation during the second quarter worth approximately $264,000. Allen Investment Management LLC acquired a new stake in shares of Credit Acceptance Corporation during the second quarter worth approximately $529,000. Finally, Makaira Partners LLC acquired a new stake in shares of Credit Acceptance Corporation during the second quarter worth approximately $37,941,000. Hedge funds and other institutional investors own 50.74% of the company’s stock.
About Credit Acceptance Corporation
Credit Acceptance Corporation (Credit Acceptance) is a provider of financing programs to automobile dealers that enable them to sell vehicles to consumers. The Company’s financing programs are offered through a nationwide network of automobile dealers; from repeat and referral sales generated by customers, and from sales to customers responding to advertisements for it products.