Credit Acceptance Corp (CACC): Allan Victor Apple , 10% owner of Credit Acceptance Corp purchased 100 shares on Jun 17, 2016. The Insider buying transaction was reported by the company on Jun 21, 2016 to the Securities and Exchange Commission. The shares were purchased at $166.05 per share for a total value of $16,605.00 , 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.
Credit Acceptance Corp.: On Monday, Jun 20, 2016 heightened volatility was witnessed in Credit Acceptance Corp. which led to swings in the share price. The shares opened for trading at $172.21 and hit $187.47 on the upside , eventually ending the session at $178.65, with a gain of 6.66% or 11.16 points. The heightened volatility saw the trading volume jump to 2,87,120 shares. The 52-week high of the share price is $277.9799 and the company has a market cap of $3,632 M . The 52-week low of the share price is at $159.43.
Company has been under the radar of several Street Analysts.Credit Acceptance Corp. is Downgraded by Macquarie to Underperform. Earlier the firm had a rating of Neutral on the company shares. The Rating was issued on May 11, 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).