World Acceptance Corporation $WRLD Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America nearly doubled its World Acceptance stake in the first quarter, acquiring 10,140 additional shares and bringing its position to 20,545 shares valued at approximately $2.77 million. Institutional investors collectively own 83.63% of the company.
• Insiders sold 142,505 shares worth approximately $26.86 million over the past three months, including a large 133,199-share sale by Prescott General Partners.
• World Acceptance reported quarterly EPS of $2.12, significantly exceeding the $0.58 consensus estimate, though revenue of $127.79 million fell short of expectations. Analysts maintain an overall “Hold” rating, while the stock recently traded at $183.81.

Bank of America Corp DE boosted its stake in World Acceptance Corporation (NASDAQ:WRLD - Free Report) by 97.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,545 shares of the credit services provider's stock after acquiring an additional 10,140 shares during the quarter. Bank of America Corp DE owned about 0.42% of World Acceptance worth $2,774,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of World Acceptance by 4.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,044 shares of the credit services provider's stock valued at $259,000 after purchasing an additional 78 shares during the period. Empowered Funds LLC lifted its stake in shares of World Acceptance by 4.1% in the first quarter. Empowered Funds LLC now owns 23,422 shares of the credit services provider's stock worth $2,964,000 after acquiring an additional 925 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in World Acceptance by 16.7% in the second quarter. JPMorgan Chase & Co. now owns 28,651 shares of the credit services provider's stock valued at $4,731,000 after purchasing an additional 4,092 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of World Acceptance by 23.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 26,865 shares of the credit services provider's stock valued at $4,436,000 after purchasing an additional 5,025 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of World Acceptance by 0.8% in the 2nd quarter. First Trust Advisors LP now owns 10,600 shares of the credit services provider's stock valued at $1,750,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 83.63% of the company's stock.

Insider Activity

In related news, Director Benjamin E. Robinson III sold 2,031 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $222.77, for a total transaction of $452,445.87. Following the completion of the sale, the director directly owned 4,836 shares in the company, valued at approximately $1,077,315.72. This trade represents a 29.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Prescott General Partners Llc sold 133,199 shares of World Acceptance stock in a transaction on Friday, August 14th. The shares were sold at an average price of $187.69, for a total value of $25,000,120.31. Following the sale, the insider directly owned 31,148 shares of the company's stock, valued at approximately $5,846,168.12. The trade was a 81.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 142,505 shares of company stock worth $26,860,290. Corporate insiders own 38.00% of the company's stock.

Wall Street Analyst Weigh In

WRLD has been the topic of several recent analyst reports. Wall Street Zen cut shares of World Acceptance from a "strong-buy" rating to a "buy" rating in a report on Monday, August 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of World Acceptance in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, World Acceptance has an average rating of "Hold".

World Acceptance Stock Performance

NASDAQ:WRLD opened at $183.81 on Tuesday. The company has a current ratio of 13.49, a quick ratio of 13.49 and a debt-to-equity ratio of 1.29. The firm has a market cap of $856.55 million, a price-to-earnings ratio of 21.73 and a beta of 1.14. World Acceptance Corporation has a twelve month low of $110.00 and a twelve month high of $227.68. The company has a 50-day moving average of $194.04 and a 200-day moving average of $164.23.

World Acceptance (NASDAQ:WRLD - Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The credit services provider reported $2.12 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $143.90 million.

World Acceptance Profile

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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