Credit Acceptance Co. (NASDAQ:CACC) Short Interest Update

Credit Acceptance Co. (NASDAQ:CACC) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 516,900 shares, a decrease of 8.7% from the September 30th total of 565,900 shares. Based on an average daily trading volume, of 50,500 shares, the short-interest ratio is currently 10.2 days. Approximately 8.2% of the company’s stock are short sold.

Insider Buying and Selling

In related news, insider Thomas W. Smith sold 1,200 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $451.01, for a total value of $541,212.00. Following the transaction, the insider now owns 74,450 shares in the company, valued at approximately $33,577,694.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CACC. UMB Bank n.a. raised its position in shares of Credit Acceptance by 4.6% during the second quarter. UMB Bank n.a. now owns 654 shares of the credit services provider’s stock valued at $337,000 after buying an additional 29 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Credit Acceptance by 3.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,161 shares of the credit services provider’s stock valued at $1,191,000 after buying an additional 72 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Credit Acceptance during the second quarter valued at about $51,000. Wedge Capital Management L L P NC raised its position in shares of Credit Acceptance by 4.2% during the third quarter. Wedge Capital Management L L P NC now owns 2,617 shares of the credit services provider’s stock valued at $1,160,000 after buying an additional 105 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Credit Acceptance by 2.5% during the first quarter. BNP Paribas Financial Markets now owns 4,618 shares of the credit services provider’s stock valued at $2,547,000 after buying an additional 111 shares during the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Credit Acceptance Stock Performance

Credit Acceptance stock traded down $36.93 on Thursday, reaching $425.00. 161,465 shares of the stock were exchanged, compared to its average volume of 57,095. The stock has a market cap of $5.15 billion, a PE ratio of 28.54 and a beta of 1.42. The company has a current ratio of 19.15, a quick ratio of 19.15 and a debt-to-equity ratio of 3.77. Credit Acceptance has a twelve month low of $379.77 and a twelve month high of $616.66. The firm has a fifty day moving average price of $455.23 and a two-hundred day moving average price of $490.32.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, topping analysts’ consensus estimates of $7.88 by $0.91. The firm had revenue of $550.30 million during the quarter, compared to analyst estimates of $548.13 million. Credit Acceptance had a net margin of 9.01% and a return on equity of 30.77%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.70 EPS. Sell-side analysts anticipate that Credit Acceptance will post 38.87 EPS for the current year.

Analyst Ratings Changes

Separately, TD Cowen lowered their price target on Credit Acceptance from $440.00 to $400.00 and set a “sell” rating on the stock in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $395.67.

Credit Acceptance Company Profile

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.