Credit Acceptance Co. (NASDAQ:CACC – Get Free Report) insider Douglas W. Busk sold 500 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $579.98, for a total value of $289,990.00. Following the transaction, the insider now owns 3,112 shares in the company, valued at $1,804,897.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Credit Acceptance Stock Down 0.5 %
Shares of Credit Acceptance stock opened at $551.48 on Thursday. The firm’s 50 day moving average price is $521.33 and its 200-day moving average price is $484.76. The company has a quick ratio of 18.50, a current ratio of 18.50 and a debt-to-equity ratio of 2.84. Credit Acceptance Co. has a 52-week low of $379.77 and a 52-week high of $616.66. The company has a market cap of $6.93 billion, a P/E ratio of 25.04 and a beta of 1.48.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. TD Cowen assumed coverage on shares of Credit Acceptance in a report on Wednesday, November 1st. They set an “underperform” rating and a $360.00 price objective on the stock. StockNews.com raised shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Thursday, February 1st. TheStreet raised shares of Credit Acceptance from a “c+” rating to a “b-” rating in a report on Wednesday, December 13th. BMO Capital Markets cut their price objective on shares of Credit Acceptance from $354.00 to $347.00 and set a “market perform” rating on the stock in a report on Tuesday, October 31st. Finally, Stephens reaffirmed an “equal weight” rating and issued a $440.00 price objective on shares of Credit Acceptance in a research report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $381.75.
Institutional Investors Weigh In On Credit Acceptance
A number of large investors have recently modified their holdings of the business. Cerity Partners LLC purchased a new stake in shares of Credit Acceptance during the fourth quarter worth about $472,516,000. Ruane Cunniff & Goldfarb L.P. grew its stake in shares of Credit Acceptance by 0.9% during the second quarter. Ruane Cunniff & Goldfarb L.P. now owns 788,445 shares of the credit services provider’s stock worth $400,475,000 after acquiring an additional 6,953 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Credit Acceptance by 7.4% during the third quarter. Wellington Management Group LLP now owns 644,666 shares of the credit services provider’s stock worth $296,624,000 after acquiring an additional 44,454 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Credit Acceptance by 0.4% during the third quarter. Vanguard Group Inc. now owns 590,161 shares of the credit services provider’s stock worth $271,545,000 after acquiring an additional 2,631 shares during the last quarter. Finally, Beck Mack & Oliver LLC grew its stake in Credit Acceptance by 0.3% during the 2nd quarter. Beck Mack & Oliver LLC now owns 325,353 shares of the credit services provider’s stock valued at $165,257,000 after purchasing an additional 980 shares during the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.
Credit Acceptance Company Profile
Credit Acceptance Corporation engages in the provision of financing programs, and related products and services to independent and franchised automobile dealers 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.
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