Credit Acceptance Corp (CACC) Files Form 4 Insider Selling : Jill Foss Watson Sells 15,000 Shares

Credit Acceptance Corp (CACC): Jill Foss Watson , 10% owner of Credit Acceptance Corp sold 15,000 shares on Apr 22, 2016. The Insider selling transaction was reported by the company on Apr 26, 2016 to the Securities and Exchange Commission. The shares were sold at $199.68 per share for a total value of $3,019,409.50 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Apr 26, 2016, Jill Foss Watson (10% owner) sold 15,000 shares at $199.68 per share price.On Mar 11, 2016, Donald A Foss (Chairman) sold 400 shares at $220.10 per share price.Also, On Dec 3, 2015, Thomas W Smith (10% owner other) purchased 1,000 shares at $202.39 per share price.On Nov 20, 2015, Kenneth Booth (CFO) purchased 5,000 shares at $164.52 per share price.

Shares of Credit Acceptance Corp. (CACC) ended Friday, Apr 22, 2016 session in red amid volatile trading. The shares closed down -2.93 points or -1.46% at $197.57 with 1,66,271 shares getting traded. Post opening the session at $198.64, the shares hit an intraday low of $196.33 and an intraday high of $206 and the price vacillated in this range throughout the day. The company has a market cap of $3,978 M and the number of outstanding shares has been calculated to be 2,01,32,945 shares. The 52-week high of Credit Acceptance Corp. is $277.9799 and the 52-week low is $159.43.

Credit Acceptance Corp. Money Flow Index Chart

Company has been under the radar of several Street Analysts.Credit Acceptance Corp. is Downgraded by JMP Securities to Mkt Underperform. Earlier the firm had a rating of Mkt Perform on the company shares. The Rating was issued on Mar 16, 2016.Credit Acceptance Corp. is Reiterated by Compass Point to Neutral and the brokerage firm has raised the Price Target to $ 160 from a previous price target of $150 .The Rating was issued on Feb 16, 2016.Credit Acceptance Corp. is Downgraded by Raymond James to Underperform. Earlier the firm had a rating of Mkt Perform on the company shares. The Rating was issued on Feb 3, 2016.

Credit Acceptance Corporation (Credit Acceptance) is a provider of financing programs to automobile dealers that enable them to sell vehicles to consumers. The Company’s financing programs are offered through a nationwide network of automobile dealers; from repeat and referral sales generated by customers and from sales to customers responding to advertisements for it products. The Company has two programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program it advances money to dealer (Dealer Loan) in exchange for the right to service the underlying consumer loans. Under the Purchase Program the Company buys the consumer loans from the dealer (Purchased Loan) and keeps all amounts collected from the consumer. Its target market is independent and franchised automobile dealers in the United States. It provides dealers the ability to offer vehicle service contracts to consumers through its relationships with third-party providers (TPPs).

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