Credit Acceptance Corporation $CACC Shares Bought by Mraz Amerine & Associates Inc.

Mraz Amerine & Associates Inc. grew its holdings in Credit Acceptance Corporation (NASDAQ:CACC) by 2.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 13,325 shares of the credit services provider’s stock after acquiring an additional 268 shares during the quarter. Credit Acceptance comprises 1.1% of Mraz Amerine & Associates Inc.’s investment portfolio, making the stock its 16th largest holding. Mraz Amerine & Associates Inc.’s holdings in Credit Acceptance were worth $6,788,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sierra Ocean LLC purchased a new stake in Credit Acceptance during the 1st quarter valued at approximately $26,000. CX Institutional acquired a new position in shares of Credit Acceptance in the first quarter valued at approximately $36,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Credit Acceptance during the first quarter worth approximately $44,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Credit Acceptance during the first quarter worth $49,000. Finally, CWM LLC grew its position in Credit Acceptance by 206.3% in the 1st quarter. CWM LLC now owns 193 shares of the credit services provider’s stock valued at $100,000 after buying an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 81.71% of the company’s stock.

Insider Buying and Selling

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

Credit Acceptance Stock Up 1.3%

CACC stock opened at $492.28 on Tuesday. The company has a current ratio of 22.03, a quick ratio of 22.03 and a debt-to-equity ratio of 4.16. The company’s 50-day moving average price is $490.64 and its 200 day moving average price is $495.59. Credit Acceptance Corporation has a 52 week low of $414.15 and a 52 week high of $560.00. The company has a market cap of $5.53 billion, a P/E ratio of 14.19 and a beta of 1.19.

Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings results on Thursday, July 31st. The credit services provider reported $8.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.84 by ($1.28). The company had revenue of $583.80 million for the quarter, compared to analyst estimates of $583.30 million. Credit Acceptance had a net margin of 18.69% and a return on equity of 27.06%. Credit Acceptance’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.29 earnings per share. On average, research analysts expect that Credit Acceptance Corporation will post 53.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Credit Acceptance in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Credit Acceptance has an average rating of “Reduce” and a consensus target price of $440.00.

About Credit Acceptance

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.