CACC - Credit Acceptance Chief Treasury Officer Sold $262K In Company Stock | Benzinga
Making a noteworthy insider sell on December 27, Douglas W Busk, Chief Treasury Officer at Credit Acceptance (NASDAQ:CACC), is reported in the latest SEC filing.
What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Wednesday showed that Busk sold 500 shares of Credit Acceptance. The total transaction amounted to $262,092.
Credit Acceptance's shares are actively trading at $535.38, experiencing a down of 0.0% during Thursday's morning session.
Delving into Credit Acceptance's Background
Credit Acceptance Corp is a consumer finance company that specializes in automobile loans. These loans are offered through a U.S. nationwide network of automobile dealers that benefit from sales of vehicles to consumers who could otherwise not obtain financing. The company also benefits from repeat and referral sales, and from sales to customers responding to advertisements for financing, but qualify for traditional financing. The company derives its revenue from finance charges, premiums earned on the reinsurance of vehicle service contracts, and other fees. Of these, financing charges, including servicing fees, are by far the largest source of revenue.
Credit Acceptance: Financial Performance Dissected
Revenue Growth: Credit Acceptance displayed positive results in 3 months. As of 30 September, 2023, the company achieved a solid revenue growth rate of approximately 3.36%. ...