8,979 Shares in World Acceptance Corporation $WRLD Bought by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P invested approximately $1.14 million in World Acceptance Corporation, acquiring 8,979 shares, which represents a 0.16% ownership stake.
• In the fourth quarter, several institutional investors, including Wells Fargo and Barclays, significantly increased their stakes in World Acceptance, contributing to a total of 83.63% institutional ownership.
• World Acceptance recently reported a quarterly earnings miss with earnings per share of $0.25, falling short of analysts' expectations of $2.44.

Martingale Asset Management L P acquired a new position in shares of World Acceptance Corporation (NASDAQ:WRLD - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,979 shares of the credit services provider's stock, valued at approximately $1,136,000. Martingale Asset Management L P owned approximately 0.16% of World Acceptance at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in World Acceptance by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,966 shares of the credit services provider's stock worth $221,000 after purchasing an additional 76 shares in the last quarter. Comerica Bank increased its position in World Acceptance by 3.8% during the 4th quarter. Comerica Bank now owns 2,513 shares of the credit services provider's stock worth $283,000 after purchasing an additional 93 shares in the last quarter. Versant Capital Management Inc increased its position in World Acceptance by 72.1% during the 1st quarter. Versant Capital Management Inc now owns 265 shares of the credit services provider's stock worth $34,000 after purchasing an additional 111 shares in the last quarter. Wedge Capital Management L L P NC increased its position in World Acceptance by 6.1% during the 1st quarter. Wedge Capital Management L L P NC now owns 4,743 shares of the credit services provider's stock worth $600,000 after purchasing an additional 273 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in World Acceptance by 570.9% during the 1st quarter. GAMMA Investing LLC now owns 369 shares of the credit services provider's stock worth $47,000 after purchasing an additional 314 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors and hedge funds.

World Acceptance Trading Down 1.4%

NASDAQ WRLD traded down $2.44 on Friday, hitting $171.09. The company's stock had a trading volume of 8,517 shares, compared to its average volume of 38,409. The company has a quick ratio of 17.83, a current ratio of 17.83 and a debt-to-equity ratio of 1.10. World Acceptance Corporation has a 1-year low of $104.99 and a 1-year high of $177.25. The company's 50-day moving average is $165.90 and its 200 day moving average is $146.85. The firm has a market cap of $931.76 million, a PE ratio of 11.54 and a beta of 1.33.

World Acceptance (NASDAQ:WRLD - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The credit services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($2.19). World Acceptance had a net margin of 14.29% and a return on equity of 18.95%. The business had revenue of $132.45 million during the quarter, compared to analyst estimates of $122.38 million. As a group, analysts predict that World Acceptance Corporation will post 14 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Daniel Clinton Dyer sold 4,704 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $159.50, for a total value of $750,288.00. Following the sale, the insider directly owned 42,714 shares of the company's stock, valued at approximately $6,812,883. This represents a 9.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Darrell E. Whitaker sold 2,500 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $155.73, for a total transaction of $389,325.00. Following the completion of the sale, the director directly owned 5,074 shares in the company, valued at approximately $790,174.02. This represents a 33.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,656 shares of company stock valued at $1,211,983. 41.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of World Acceptance from a "strong-buy" rating to a "hold" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $10.00.

World Acceptance Profile

World Acceptance Corporation engages in consumer finance business in the United States. The company provides short-term small installment loans, medium-term larger installment loans, related credit insurance, and ancillary products and services to individuals. It offers income tax return preparation and filing services; and automobile club memberships.