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Last $217.30 USD
Change Today +0.92 / 0.43%
Volume 49.7K
CACC On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 1:52 PM 04/27/15 All times are local (Market data is delayed by at least 15 minutes).

credit acceptance corp (CACC) Snapshot

Open
$215.63
Previous Close
$216.38
Day High
$220.28
Day Low
$214.85
52 Week High
04/27/15 - $220.28
52 Week Low
07/31/14 - $110.98
Market Cap
4.5B
Average Volume 10 Days
39.7K
EPS TTM
$12.61
Shares Outstanding
20.6M
EX-Date
--
P/E TM
17.2x
Dividend
--
Dividend Yield
--
Current Stock Chart for CREDIT ACCEPTANCE CORP (CACC)

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credit acceptance corp (CACC) Details

Credit Acceptance Corporation provides automobile dealers financing programs, and related products and services that enable them to sell vehicles to consumers. It advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers. The company offers its products through a network of independent and franchised automobile dealers in the United States. Credit Acceptance Corporation was founded in 1972 and is headquartered in Southfield, Michigan.

1,303 Employees
Last Reported Date: 02/12/15
Founded in 1972

credit acceptance corp (CACC) Top Compensated Officers

Chief Executive Officer and Executive Directo...
Total Annual Compensation: $1.0M
President
Total Annual Compensation: $625.0K
Chief Financial Officer and Chief Accounting ...
Total Annual Compensation: $450.0K
Chief Analytics Officer
Total Annual Compensation: $450.0K
Chief Legal Officer and Corporate Secretary
Total Annual Compensation: $450.0K
Compensation as of Fiscal Year 2014.

credit acceptance corp (CACC) Key Developments

Credit Acceptance Corporation Issues $250.0 Million Aggregate Principal Amount of 7.375% Senior Notes Due 2023

On March 30, 2015, Credit Acceptance Corporation issued $250.0 million aggregate principal amount of 7.375% Senior Notes due 2023. The notes were issued pursuant to an indenture, dated as of March 30, 2015 (the Indenture), among the company; the company's subsidiaries Buyers Vehicle Protection Plan Inc. and Vehicle Remarketing Services Inc. (collectively, the Guarantors); and U.S. Bank National Association, as trustee (the Trustee). The notes mature on March 15, 2023 and bear interest at a rate of 7.375% per annum, computed on the basis of a 360-day year composed of twelve 30-day months and payable semi-annually on March 15 and September 15 of each year, beginning on September 15, 2015. The notes are guaranteed on a senior basis by the Guarantors, which are also guarantors of obligations under the Sixth Amended and Restated Credit Agreement (as amended from time to time, the Credit Agreement), by and among the company, Comerica Bank and the other banks signatory thereto, and Comerica Bank, as administrative agent and collateral agent for the banks. Other existing and future subsidiaries of the company may become guarantors of the notes in the future. The Indenture provides for a guarantor of the notes to be released from its obligations under its guarantee of the notes under specified circumstances. The company may redeem some or all of the notes, at its option, at any time and from time to time on and after March 15, 2018 at a redemption price (expressed as a percentage of the principal amount of the notes to be redeemed) of 105.531%, declining to 103.688% on March 15, 2019, declining to 101.844% on March 15, 2020 and declining to 100.000% on March 15, 2021, in each case plus accrued and unpaid interest, if any, to but excluding the redemption date. At any time and from time to time prior to March 15, 2018, the company may redeem some or all of the notes at a price equal to 100% of the principal amount of the notes redeemed, plus a make-whole premium set in the Indenture and accrued and unpaid interest, if any, to but excluding the redemption date. In addition, at any time on or prior to March 15, 2018, the company may, on any one or more occasions, redeem up to 35% of the aggregate principal amount of the notes with the net cash proceeds of certain equity offerings at a redemption price of 107.375% of the principal amount of the notes redeemed, plus accrued and unpaid interest, if any, to but excluding the redemption date.

Credit Acceptance Corp. Closes Private Offering of 7.375% Senior Notes Due 2023

Credit Acceptance Corp. said that it has closed its private offering of $250 million of its 7.375% senior notes due 2023 at an issue price of 99.266% of the principal amount. The company intends to use the net proceeds from the offering for general corporate purposes, which may include repayment of outstanding borrowings, if any, under its revolving credit facility.

Credit Acceptance Announces $250 Million Senior Notes Offering

Credit Acceptance Corp. announced that it plans to offer $250 million of senior notes due 2023. The company intend to use the net proceeds from the offering of the notes for general corporate purposes, which may include repayment of outstanding borrowings, if any, under revolving credit facility. The notes will be offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.

 

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Industry Analysis

CACC

Industry Average

Valuation CACC Industry Range
Price/Earnings 18.2x
Price/Sales 7.0x
Price/Book 6.4x
Price/Cash Flow 16.7x
TEV/Sales 4.1x
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