Credit Acceptance Co. (NASDAQ:CACC – Get Free Report) major shareholder A. Foss Irrevocable Tru Donald sold 7,108 shares of Credit Acceptance stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $548.08, for a total value of $3,895,752.64. Following the completion of the transaction, the insider now owns 1,376,645 shares in the company, valued at $754,511,591.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
A. Foss Irrevocable Tru Donald also recently made the following trade(s):
- On Wednesday, July 19th, A. Foss Irrevocable Tru Donald sold 9,796 shares of Credit Acceptance stock. The shares were sold at an average price of $568.72, for a total value of $5,571,181.12.
- On Monday, July 17th, A. Foss Irrevocable Tru Donald sold 7,538 shares of Credit Acceptance stock. The shares were sold at an average price of $553.97, for a total value of $4,175,825.86.
- On Friday, July 14th, A. Foss Irrevocable Tru Donald sold 8,782 shares of Credit Acceptance stock. The shares were sold at an average price of $548.19, for a total value of $4,814,204.58.
- On Wednesday, July 12th, A. Foss Irrevocable Tru Donald sold 7,766 shares of Credit Acceptance stock. The shares were sold at an average price of $534.87, for a total value of $4,153,800.42.
- On Monday, July 10th, A. Foss Irrevocable Tru Donald sold 2,050 shares of Credit Acceptance stock. The shares were sold at an average price of $516.49, for a total value of $1,058,804.50.
Credit Acceptance Stock Performance
Shares of CACC stock opened at $546.69 on Friday. The stock has a fifty day moving average price of $492.93 and a 200 day moving average price of $462.16. The stock has a market cap of $7.02 billion, a PE ratio of 17.29 and a beta of 1.33. Credit Acceptance Co. has a 1 year low of $358.00 and a 1 year high of $617.44. The company has a debt-to-equity ratio of 2.65, a quick ratio of 17.48 and a current ratio of 17.48.
Hedge Funds Weigh In On Credit Acceptance
A number of institutional investors have recently made changes to their positions in the stock. Jarislowsky Fraser Ltd raised its holdings in shares of Credit Acceptance by 62.5% in the second quarter. Jarislowsky Fraser Ltd now owns 63,885 shares of the credit services provider’s stock worth $32,449,000 after acquiring an additional 24,576 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Credit Acceptance by 70.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 674 shares of the credit services provider’s stock worth $342,000 after acquiring an additional 278 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Credit Acceptance by 800.0% in the second quarter. Wedge Capital Management L L P NC now owns 4,194 shares of the credit services provider’s stock worth $2,130,000 after acquiring an additional 3,728 shares during the last quarter. RV Capital AG raised its holdings in shares of Credit Acceptance by 2.1% in the second quarter. RV Capital AG now owns 172,846 shares of the credit services provider’s stock worth $87,794,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Duality Advisers LP raised its holdings in shares of Credit Acceptance by 451.5% in the first quarter. Duality Advisers LP now owns 3,910 shares of the credit services provider’s stock worth $1,705,000 after acquiring an additional 3,201 shares during the last quarter. 68.65% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on CACC shares. Stephens decreased their price target on Credit Acceptance from $442.00 to $440.00 in a research note on Tuesday, May 2nd. Credit Suisse Group decreased their price target on Credit Acceptance from $400.00 to $380.00 in a research note on Tuesday, May 2nd. Finally, StockNews.com started coverage on Credit Acceptance in a research note on Thursday, May 18th. They issued a “hold” rating on the stock.
About Credit Acceptance
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.
Read More
- Five stocks we like better than Credit Acceptance
- MarketBeat Week in Review – 7/17 – 7/21
- U.S. Bancorp Shares Rally As Analysts Get Bullish After Q2 Report
- AutoNation Beats Earnings Expectations, Stock Down?
- American Express Hiccups After Earnings, Time To Buy?
- ISRG Stock Sinks After Strong Earnings: Is the Growth Priced In?
Receive News & Ratings for Credit Acceptance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credit Acceptance and related companies with MarketBeat.com's FREE daily email newsletter.
