World Acceptance (NASDAQ:WRLD) Reaches New 1-Year High - Here's What Happened

Key Points

• World Acceptance Corporation (NASDAQ:WRLD) reached a new 52-week high of $185.48 amid increased trading volume, indicating strong market performance.
• Wall Street analysts' ratings for World Acceptance have fluctuated, with one firm dropping its recommendation from "strong buy" to "hold," while another upgraded it to "hold" from "strong sell."
• The company's recent quarterly earnings report revealed a significant earnings miss, with an EPS of $0.25 compared to the consensus estimate of $2.44, despite revenue surpassing expectations at $132.45 million.

World Acceptance Corporation (NASDAQ:WRLD - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $185.48 and last traded at $182.73, with a volume of 2820 shares changing hands. The stock had previously closed at $184.43.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered World Acceptance from a "strong-buy" rating to a "hold" rating in a report on Saturday, July 26th. Zacks Research upgraded World Acceptance from a "strong sell" rating to a "hold" rating in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, World Acceptance currently has an average rating of "Hold" and a consensus price target of $10.00.

World Acceptance Trading Down 1.2%

The company has a fifty day moving average of $167.78 and a two-hundred day moving average of $152.50. The company has a current ratio of 17.83, a quick ratio of 17.83 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $993.02 million, a price-to-earnings ratio of 12.29 and a beta of 1.27.

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

Insider Buying and Selling

In other World Acceptance news, insider Daniel Clinton Dyer sold 4,704 shares of World Acceptance stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $159.50, for a total value of $750,288.00. Following the transaction, the insider directly owned 42,714 shares of the company's stock, valued at $6,812,883. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles D. Way sold 402 shares of World Acceptance stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $160.00, for a total value of $64,320.00. Following the completion of the transaction, the director directly owned 15,395 shares in the company, valued at approximately $2,463,200. This represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 356,559 shares of company stock worth $61,548,969. 41.60% of the stock is currently owned by company insiders.

Institutional Trading of World Acceptance

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in World Acceptance by 2.2% in the first quarter. Vanguard Group Inc. now owns 349,238 shares of the credit services provider's stock valued at $44,196,000 after acquiring an additional 7,429 shares during the period. Geode Capital Management LLC grew its position in World Acceptance by 6.1% in the second quarter. Geode Capital Management LLC now owns 84,846 shares of the credit services provider's stock valued at $14,011,000 after acquiring an additional 4,869 shares during the period. American Century Companies Inc. grew its position in World Acceptance by 20.9% in the second quarter. American Century Companies Inc. now owns 74,973 shares of the credit services provider's stock valued at $12,380,000 after acquiring an additional 12,954 shares during the period. Bridgeway Capital Management LLC grew its position in World Acceptance by 33.1% in the second quarter. Bridgeway Capital Management LLC now owns 57,928 shares of the credit services provider's stock valued at $9,565,000 after acquiring an additional 14,406 shares during the period. Finally, Ingalls & Snyder LLC grew its position in World Acceptance by 0.9% in the second quarter. Ingalls & Snyder LLC now owns 53,171 shares of the credit services provider's stock valued at $8,780,000 after acquiring an additional 495 shares during the period. 83.63% of the stock is currently owned by institutional investors.

About World Acceptance

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.

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