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Credit Acceptance (CACC)

Since 1972, Credit Acceptance has offered financing programs that enable automobile dealers to sell vehicles to consumers, regardless of their credit history. Its financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing; from repeat and referral sales generated by these same customers; and from sales to customers responding to advertisements for its financing programs, but who actually end up qualifying for traditional financing.

Company profile

Ticker
CACC
Exchange
CEO
Brett A. Roberts
Employees
Incorporated
Location
Fiscal year end
Former names
CREDIT ACCEPTANCE CORPORATION
SEC CIK
Subsidiaries
Buyers Vehicle Protection Plan, Inc • CAC International Holdings, LLC • CAC of Canada Company • CAC Reinsurance, Ltd. • CAC Warehouse Funding LLC • Credit Acceptance Funding LLC • Chapter 4 Properties, LLC • Vehicle Remarketing Services, Inc. • VSC Re Company ...
IRS number
381999511

CACC stock data

Analyst ratings and price targets

Last 3 months

Calendar

1 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 430.8M 430.8M 430.8M 430.8M 430.8M 430.8M
Cash burn (monthly) 22.63M 35.84M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 32.39M 51.29M n/a n/a n/a n/a
Cash remaining 398.41M 379.51M n/a n/a n/a n/a
Runway (months of cash) 17.6 10.6 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
17 May 22 Prescott General Partners Common Stock Sell Dispose S Yes No 604.9938 377 228.08K 59,705
17 May 22 Prescott General Partners Common Stock Sell Dispose S Yes No 604.9938 3,579 2.17M 535,053
17 May 22 Prescott General Partners Common Stock Sell Dispose S Yes No 604.9938 280 169.4K 43,551
17 May 22 Prescott General Partners Common Stock Sell Dispose S Yes No 604.9938 6,978 4.22M 1,053,764
11 May 22 Prescott General Partners Common Stock Sell Dispose S Yes No 587.295 480 281.9K 60,082
11 May 22 Prescott General Partners Common Stock Sell Dispose S Yes No 587.295 4,557 2.68M 538,632
11 May 22 Prescott General Partners Common Stock Sell Dispose S Yes No 587.295 356 209.08K 43,831
11 May 22 Prescott General Partners Common Stock Sell Dispose S Yes No 587.295 9,255 5.44M 1,060,742
6 May 22 Prescott General Partners Common Stock Sell Dispose S Yes No 597.2071 20,735 12.38M 1,069,997
5 May 22 Prescott General Partners Common Stock Sell Dispose S Yes No 608.3725 28,897 17.58M 1,090,732
93.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 259 277 -6.5%
Opened positions 34 65 -47.7%
Closed positions 52 34 +52.9%
Increased positions 79 54 +46.3%
Reduced positions 89 101 -11.9%
13F shares Current Prev Q Change
Total value 5.25B 6.63B -20.8%
Total shares 12.02M 12.33M -2.5%
Total puts 142.1K 195.2K -27.2%
Total calls 189K 289.2K -34.6%
Total put/call ratio 0.8 0.7 +11.4%
Largest owners Shares Value Change
Prescott General Partners 1.71M $939.48M 0.0%
Ruane, Cunniff & Goldfarb 1.57M $0 0.0%
Watson Jill Foss 962.82K $542.17M 0.0%
Donald A. Foss 2009 Annuity Trust 931.32K $0 0.0%
Ruane, Cunniff & Goldfarb 861.75K $474.28M -3.6%
Wellington Management 787.36K $433.34M -5.4%
Vanguard 686.5K $377.83M -6.2%
Gobi Capital 502.37K $276.49M +0.7%
Beck Mack & Oliver 320.47K $176.37M +0.6%
BLK Blackrock 316.45K $174.17M -3.4%
Largest transactions Shares Bought/sold Change
PFG Principal Financial Group Inc - Registered Shares 313.92K -67.59K -17.7%
Arrowstreet Capital, Limited Partnership 0 -55.85K EXIT
Two Sigma Investments 16.99K -50.17K -74.7%
Vanguard 686.5K -45.11K -6.2%
Wellington Management 787.36K -45.1K -5.4%
Allspring Global Investments 1.68K -43.09K -96.2%
Billings Capital Management 0 -34.92K EXIT
Ruane, Cunniff & Goldfarb 861.75K -31.8K -3.6%
Smead Capital Management 155.9K +27.24K +21.2%
IVZ Invesco 23.5K -22.19K -48.6%

Financial report summary

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Competition
AtlanticusOpen Lending
Management Discussion
  • The net Loan income (finance charge revenue less provision for credit losses expense) that we recognize over the life of a Loan equals the cash we collect from the underlying Consumer Loan less the cash we pay to the Dealer. We believe the economics of our business are best exhibited by recognizing net Loan income on a level-yield basis over the life of the Loan based on expected future net cash flows. We do not believe the GAAP methodology we employ (known as CECL) provides sufficient transparency into the economics of our business due to its asymmetry requiring us to recognize a significant provision for credit losses expense at the time of assignment for contractual net cash flows we never expect to realize and to recognize in subsequent periods finance charge revenue that is significantly in excess of our expected yields. For additional information, see Note 3 and Note 6 to the consolidated financial statements contained in Part I - Item 1 of this Form 10-Q, which is incorporated herein by reference.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Good
New words: advantage, assurance, attendance, brought, car, covenant, dismissed, encouraged, equipment, faith, furniture, good, grew, Henderson, land, lease, personal, preference, prejudice, proved, pursue, reclassify, satisfaction, Southfield, space, stipulation, successful, talent, unoccupied, work, working, wrongdoing
Removed: converted, defend, distribution, matter, vigorously