The results of my search into ownership of UACA:
There are 4,011,000 shs of class A outstanding; there are 9,200,000 of class B outstanding. For a total of 13,211,000 shs of class A/B outstanding.
The Richard Waterton family & their voting trust own 82.62% of it. Institutions -- John Hancock Adviser(Boston), Montgomery Securities (San Francisco), and Alpha Assurances (Paris) have positions in class A.
There is no difference in the voting rights of the classes; the annl rpts lump the 2 classes together as does the proxy. Basically, the Watertons own the stock and the votes.
Remember the Watertons own Union Bank (Fort Wayne, IN) and started UACA, so they know the non-prime and prime auto lending business. Anyone from IN, know anything about this family?
The stock is in super STRONG hands; who will not sell on a whim, so I theorize one of the lesser institutional investors sold recently causing the stock price to drop in June 1997. We will know when the next proxy or SEC form 13G is filed.
There is no evidence of an employee stock ownership program which I like to see and makes the employees really aware of the company and its costs.
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