Principal Financial Group Inc. Sells 10,144 Shares of World Acceptance Corporation $WRLD

Key Points

• Principal Financial Group cut its World Acceptance stake by 42.3%, selling 10,144 shares and retaining 13,849 shares valued at approximately $1.87 million. Institutional investors collectively own 83.63% of WRLD.
• World Acceptance reported quarterly EPS of $2.12, exceeding the $0.58 analyst consensus, though revenue of $139.21 million fell short of the $143.90 million estimate. The stock opened at $181.10, down 2.4%.
• Insiders sold 5,396 shares worth about $1.12 million over the past 90 days, while analyst sentiment remains cautious with a consensus “Hold” rating despite one recent upgrade to “Buy.”

Principal Financial Group Inc. trimmed its stake in shares of World Acceptance Corporation (NASDAQ:WRLD - Free Report) by 42.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,849 shares of the credit services provider's stock after selling 10,144 shares during the quarter. Principal Financial Group Inc. owned approximately 0.28% of World Acceptance worth $1,870,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WRLD. Fifth Third Bancorp boosted its position in World Acceptance by 7,253.3% in the first quarter. Fifth Third Bancorp now owns 2,206 shares of the credit services provider's stock valued at $298,000 after buying an additional 2,176 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of World Acceptance by 46.5% in the 1st quarter. Hsbc Holdings PLC now owns 5,793 shares of the credit services provider's stock valued at $772,000 after acquiring an additional 1,838 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of World Acceptance by 14.9% in the 1st quarter. Inspire Investing LLC now owns 3,848 shares of the credit services provider's stock valued at $520,000 after acquiring an additional 500 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of World Acceptance by 8.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,218 shares of the credit services provider's stock valued at $1,785,000 after acquiring an additional 1,004 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of World Acceptance by 11.6% during the 4th quarter. Invesco Ltd. now owns 33,047 shares of the credit services provider's stock valued at $4,639,000 after acquiring an additional 3,445 shares in the last quarter. Institutional investors own 83.63% of the company's stock.

Insider Buying and Selling

In related news, Director Charles D. Way sold 833 shares of World Acceptance stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $225.00, for a total value of $187,425.00. Following the transaction, the director directly owned 12,729 shares of the company's stock, valued at $2,864,025. The trade was a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin E. Robinson III sold 2,031 shares of the company's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $222.77, for a total value of $452,445.87. Following the completion of the sale, the director owned 4,836 shares in the company, valued at $1,077,315.72. The trade was a 29.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,396 shares of company stock valued at $1,121,090 over the last 90 days. 38.00% of the stock is owned by corporate insiders.

World Acceptance Trading Down 2.4%

WRLD opened at $181.10 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 13.49 and a quick ratio of 22.99. World Acceptance Corporation has a fifty-two week low of $110.00 and a fifty-two week high of $227.68. The company's 50 day moving average price is $185.80 and its two-hundred day moving average price is $155.11. The firm has a market capitalization of $843.93 million, a price-to-earnings ratio of 21.41 and a beta of 1.13.

World Acceptance (NASDAQ:WRLD - Get Free Report) last issued its quarterly earnings results on Friday, July 24th. The credit services provider reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $1.54. World Acceptance had a net margin of 6.71% and a return on equity of 12.13%. The company had revenue of $139.21 million for the quarter, compared to analyst estimates of $143.90 million.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WRLD shares. Wall Street Zen upgraded World Acceptance from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of World Acceptance in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold".

About World Acceptance

World Acceptance Corporation NASDAQ: WRLD is a consumer finance company headquartered in Greenville, South Carolina. Founded in 1972, the company provides credit solutions to underserved customers who may have limited access to traditional banking services. Over the decades, World Acceptance has built a reputation for tailored lending that emphasizes responsible underwriting and personalized customer service.

The company's core product offerings include short-term installment loans designed to meet the immediate financial needs of its clients.

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