World Acceptance (NASDAQ:WRLD) Raised to Hold at Zacks Research

Key Points

• Zacks Research upgraded World Acceptance to a “Hold” rating, matching the stock’s current average analyst rating of “Hold.”
• World Acceptance reported quarterly EPS of $2.12, well above the $0.58 consensus estimate, although revenue of $127.79 million fell short of expectations.
• Insiders sold approximately $25.8 million of shares over the past 90 days, while institutional investors own 83.63% of the company.

World Acceptance (NASDAQ:WRLD - Get Free Report) was upgraded by Zacks Research to a "hold" rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other brokerages have also recently commented on WRLD. Weiss Ratings reaffirmed a "hold (c)" rating on shares of World Acceptance in a report on Monday, September 21st. Wall Street Zen downgraded shares of World Acceptance from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, World Acceptance presently has an average rating of "Hold".

World Acceptance Stock Up 0.4%

Shares of NASDAQ WRLD opened at $176.96 on Monday. The business has a 50-day moving average price of $184.45 and a 200 day moving average price of $172.64. The stock has a market cap of $824.63 million, a PE ratio of 20.92 and a beta of 1.17. The company has a quick ratio of 13.49, a current ratio of 13.49 and a debt-to-equity ratio of 1.29. World Acceptance has a 52-week low of $110.00 and a 52-week high of $227.68.

World Acceptance (NASDAQ:WRLD - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The credit services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $0.58 by $1.54. World Acceptance had a return on equity of 12.13% and a net margin of 6.71%.The company had revenue of $127.79 million for the quarter, compared to analyst estimates of $143.90 million. Equities research analysts forecast that World Acceptance will post 13.18 earnings per share for the current year.

Insider Transactions at World Acceptance

In other news, insider Prescott General Partners Llc sold 133,199 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $187.69, for a total transaction of $25,000,120.31. Following the transaction, the insider directly owned 31,148 shares in the company, valued at $5,846,168.12. The trade was a 81.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jason Childers sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $190.74, for a total value of $381,480.00. Following the transaction, the senior vice president directly owned 12,799 shares of the company's stock, valued at approximately $2,441,281.26. This trade represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 137,199 shares of company stock worth $25,753,600 over the last ninety days. 38.00% of the stock is currently owned by company insiders.

Institutional Trading of World Acceptance

Several hedge funds and other institutional investors have recently made changes to their positions in WRLD. Bank of New York Mellon Corp acquired a new stake in World Acceptance in the 2nd quarter valued at about $4,577,000. Bank of America Corp DE raised its position in World Acceptance by 97.5% during the first quarter. Bank of America Corp DE now owns 20,545 shares of the credit services provider's stock worth $2,774,000 after acquiring an additional 10,140 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of World Acceptance in the second quarter valued at about $1,239,000. Jennison Associates LLC purchased a new stake in shares of World Acceptance in the first quarter valued at about $680,000. Finally, Squarepoint Ops LLC grew its position in shares of World Acceptance by 82.5% in the second quarter. Squarepoint Ops LLC now owns 7,004 shares of the credit services provider's stock valued at $1,568,000 after purchasing an additional 3,166 shares during the last quarter. Institutional investors and hedge funds own 83.63% of the company's stock.

World Acceptance Company Profile

World Acceptance Corporation NASDAQ: WRLD is a consumer finance company that provides small, short-term installment loans to individuals, primarily serving consumers who may have limited access to traditional forms of credit. The company operates through a network of branch offices and digital channels.

Its products and services generally include personal installment loans, related credit insurance and other ancillary offerings. World Acceptance has also provided tax return preparation and electronic filing services in some of its markets.

Founded in 1962 and headquartered in Greenville, South Carolina, World Acceptance primarily serves customers in selected regions of the United States, including parts of the Southeast, Southwest and Midwest.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.