CACC - Douglas W Busk Executes Sell Order: Offloads $289K In Credit Acceptance Stock | Benzinga
Douglas W Busk, Chief Treasury Officer at Credit Acceptance (NASDAQ:CACC), executed a substantial insider sell on February 6, according to an SEC filing.
What Happened: Busk's recent Form 4 filing with the U.S. Securities and Exchange Commission on Tuesday unveiled the sale of 500 shares of Credit Acceptance. The total transaction value is $289,990.
At Wednesday morning, Credit Acceptance shares are down by 0.0%, trading at $554.51.
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: A Financial Overview
Decline in Revenue: Over the 3 months period, Credit Acceptance faced challenges, resulting in a decline of approximately 0.0% in revenue growth ...