Major Shareholder Trust Files Intent to Sell $13M in CACC Stock
CACC sits 63% above its 52-week low of $401.9.
Summary
A trust linked to the Donald A. Foss family, a major shareholder, has filed to sell $13 million worth of Credit Acceptance Corp stock, continuing a trend of significant insider selling.
Key Events · Ownership and Investor Activity · CACC
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Proposed $13 Million Stock Sale
Allan Apple, as Trustee for the Donald A Foss Remainder Trust FBO Samantha D Foss, intends to sell 20,000 shares of common stock, valued at approximately $13,000,000. This represents about 0.19% of the company's outstanding shares.
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Continuation of Insider Distribution
This filing is part of a broader trend of significant selling by related trusts and insiders, with over $85 million in shares sold in the last three months, contributing to a net insider distribution of over $63 million.
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Sale Near 52-Week Highs
The proposed sale occurs while Credit Acceptance Corp's stock is trading near its 52-week high of $668.86, potentially indicating profit-taking by a major shareholder.
Analysis · CACC · Finance
This Form 144 indicates a significant intent to sell by a trust associated with the Donald A. Foss family, a major shareholder. The proposed $13 million sale adds to a pattern of substantial insider distribution, with over $85 million in shares already sold by related parties in the past three months. This ongoing selling activity, occurring while the stock trades near its 52-week high, suggests a continued reduction of stake by a founding family trust.
At the time of this filing, CACC was trading at $653.14 on NASDAQ in the Finance sector, with a market capitalization of approximately $6.8B. The 52-week trading range was $401.90 to $668.86. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.