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Fly News Breaks for February 8, 2017
CACC
Feb 8, 2017 | 11:15 EDT
Stephens analyst Vincent Caintic expects continued technical headwinds on Credit Acceptance's stock, after founder and 49% shareholder Don Foss initiated a sale of 660,000 shares. Further, the analyst would not be surprised to see more shares enter the market following this block sale as he has expected to see the selling of Foss and family's 49% stake in Credit Acceptance's shares following his retirement from the board of directors in January. Caintic reiterates an Underweight rating and $170 price target on the shares.
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