Credit Acceptance Corporation $CACC Shares Sold by Atria Investments Inc

Atria Investments Inc reduced its stake in Credit Acceptance Corporation (NASDAQ:CACC) by 30.4% in Q2, now holding 1,560 shares valued at $795,000. Other investors, including Beck Mack & Oliver LLC and Alfreton Capital LLP, have also adjusted their holdings. Insider sales included COO Jonathan Lum selling 6,000 shares. Credit Acceptance's stock opened at $422.35, with a market cap of $4.66 billion. The company reported Q3 EPS of $10.28, exceeding estimates, with revenue of $582.40 million, a 5.8% year-over-year increase. Analyst ratings include two holds and two sells.

Atria Investments Inc trimmed its holdings in Credit Acceptance Corporation (NASDAQ:CACC - Free Report) by 30.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,560 shares of the credit services provider's stock after selling 682 shares during the quarter. Atria Investments Inc's holdings in Credit Acceptance were worth $795,000 as of its most recent SEC filing.

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Credit Acceptance Corp. Among Growth Leaders In Subprime Lending Industry

Other large investors have also modified their holdings of the company. Beck Mack & Oliver LLC boosted its stake in shares of Credit Acceptance by 1.0% during the first quarter. Beck Mack & Oliver LLC now owns 394,972 shares of the credit services provider's stock worth $203,944,000 after buying an additional 3,734 shares during the period. Alfreton Capital LLP raised its stake in Credit Acceptance by 11.8% during the 1st quarter. Alfreton Capital LLP now owns 190,000 shares of the credit services provider's stock valued at $98,106,000 after acquiring an additional 20,000 shares during the last quarter. Khrom Capital Management LLC purchased a new stake in Credit Acceptance during the 1st quarter valued at approximately $30,639,000. Northern Trust Corp lifted its position in Credit Acceptance by 1.1% during the 1st quarter. Northern Trust Corp now owns 38,184 shares of the credit services provider's stock worth $19,716,000 after acquiring an additional 412 shares during the period. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Credit Acceptance in the 1st quarter valued at approximately $18,481,000. Institutional investors and hedge funds own 81.71% of the company's stock.

Insider Activity

In other Credit Acceptance news, COO Jonathan Lum sold 6,000 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $512.61, for a total value of $3,075,660.00. Following the transaction, the chief operating officer owned 31,493 shares of the company's stock, valued at approximately $16,143,626.73. This represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel A. Ulatowski sold 2,139 shares of Credit Acceptance stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $509.05, for a total value of $1,088,857.95. Following the transaction, the insider directly owned 28,290 shares in the company, valued at approximately $14,401,024.50. This trade represents a 7.03% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 13,697 shares of company stock worth $6,981,255. 6.60% of the stock is owned by company insiders.

Credit Acceptance Stock Performance

Credit Acceptance stock opened at $422.35 on Friday. The firm has a market capitalization of $4.66 billion, a PE ratio of 12.17 and a beta of 1.16. Credit Acceptance Corporation has a one year low of $401.90 and a one year high of $560.00. The stock's 50 day moving average price is $487.50 and its 200 day moving average price is $493.03. The company has a debt-to-equity ratio of 4.16, a quick ratio of 22.03 and a current ratio of 22.03.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last announced its earnings results on Thursday, October 30th. The credit services provider reported $10.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.61 by $0.67. Credit Acceptance had a return on equity of 27.06% and a net margin of 18.69%.The company had revenue of $582.40 million for the quarter, compared to analyst estimates of $592.19 million. During the same period in the prior year, the company posted $9.25 EPS. Credit Acceptance's quarterly revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts expect that Credit Acceptance Corporation will post 53.24 EPS for the current fiscal year.

Analyst Ratings Changes

CACC has been the topic of a number of recent analyst reports. TD Cowen dropped their price target on shares of Credit Acceptance from $450.00 to $430.00 and set a "sell" rating on the stock in a research note on Friday, October 31st. Cowen reiterated a "sell" rating on shares of Credit Acceptance in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Credit Acceptance in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $465.00.

Check Out Our Latest Research Report on Credit Acceptance

Credit Acceptance Company Profile

(Free Report)

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.

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