Trading Report: The Credit Acceptance Corp. (CACC) to Release Quarterly Earnings on Tuesday

The Credit Acceptance Corp. (CACC) to Release Quarterly Earnings on Tuesday

Credit Acceptance Corp. (NASDAQ:CACC) will be posting its Q316 quarterly earnings results after the market closes on Tuesday, November 1st. Analysts expect Credit Acceptance Corp. to post earnings of $4.11 per share and revenue of $244.65 million for the quarter.

Credit Acceptance Corp. (NASDAQ:CACC) last released its earnings results on Friday, July 29th. The company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.52. The company earned $238.50 million during the quarter, compared to the consensus estimate of $232.40 million. Credit Acceptance Corp. had a return on equity of 33.91% and a net margin of 35.03%. Credit Acceptance Corp.’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.60 EPS. On average, analysts expect Credit Acceptance Corp. to post $17.07 EPS for the current fiscal year and $18.93 EPS for the next fiscal year.

Credit Acceptance Corp. (NASDAQ:CACC) opened at 183.08 on Monday. Credit Acceptance Corp. has a 52 week low of $159.43 and a 52 week high of $258.58. The stock has a market cap of $3.73 billion, a PE ratio of 12.11 and a beta of 0.62. The stock has a 50 day moving average price of $192.04 and a 200 day moving average price of $189.69.

Several analysts have recently issued reports on the company. Zacks Investment Research downgraded Credit Acceptance Corp. from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. Janney Montgomery Scott restated a “hold” rating on shares of Credit Acceptance Corp. in a research report on Thursday, September 22nd. Compass Point downgraded Credit Acceptance Corp. from a “neutral” rating to a “sell” rating and set a $170.00 price objective on the stock. in a research report on Tuesday, September 6th. Finally, Credit Suisse Group AG downgraded Credit Acceptance Corp. from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $200.00 to $185.00 in a research report on Wednesday, July 27th. Six research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock has a consensus rating of “Sell” and an average price target of $179.15.

In related news, major shareholder Jill Foss Watson sold 35,211 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $205.18, for a total transaction of $7,224,592.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 25.20% of the company’s stock.

A number of large investors have recently made changes to their positions in CACC. Marshall Wace LLP purchased a new stake in shares of Credit Acceptance Corp. during the second quarter valued at approximately $793,000. Seven Eight Capital LLC raised its stake in shares of Credit Acceptance Corp. by 24.7% in the second quarter. Seven Eight Capital LLC now owns 797 shares of the company’s stock valued at $148,000 after buying an additional 158 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of Credit Acceptance Corp. by 281.1% in the second quarter. Citadel Advisors LLC now owns 6,266 shares of the company’s stock valued at $1,160,000 after buying an additional 4,622 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Credit Acceptance Corp. during the second quarter valued at approximately $190,000. Finally, Mariner Wealth Advisors LLC raised its stake in shares of Credit Acceptance Corp. by 28.4% in the second quarter. Mariner Wealth Advisors LLC now owns 3,163 shares of the company’s stock valued at $585,000 after buying an additional 700 shares in the last quarter. Institutional investors own 47.54% of the company’s stock.

Credit Acceptance Corp. Company Profile

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