World Acceptance (NASDAQ:WRLD) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• World Acceptance Corporation's share price has surpassed its 200-day moving average of $149.50, reaching a high of $173.27 during trading, and currently trading at $167.83.
• Wall Street analysts have downgraded World Acceptance from a "strong-buy" to a "hold" rating, with a consensus target price of $10.00.
• In recent insider trading, key executives sold significant amounts of stock, leading to a nearly 90% decrease in one insider's ownership after selling over 347,000 shares.

Shares of World Acceptance Corporation (NASDAQ:WRLD - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $149.50 and traded as high as $173.27. World Acceptance shares last traded at $167.83, with a volume of 42,617 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut 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.com, the company presently has a consensus rating of "Hold" and an average target price of $10.00.

World Acceptance Price Performance

The firm has a 50 day moving average of $166.58 and a 200-day moving average of $150.47. The company has a market cap of $938.16 million, a P/E ratio of 11.62 and a beta of 1.27. The company has a current ratio of 17.83, a quick ratio of 17.83 and a debt-to-equity ratio of 1.10.

World Acceptance (NASDAQ:WRLD - Get Free Report) last issued its 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). The business had revenue of $132.45 million for the quarter, compared to the consensus estimate of $122.38 million. World Acceptance had a net margin of 14.29% and a return on equity of 18.95%. On average, equities research analysts predict that World Acceptance Corporation will post 14 EPS for the current year.

Insider Activity at World Acceptance

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 sale, the insider 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Prescott General Partners Llc sold 347,064 shares of World Acceptance stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $172.88, for a total value of $60,000,424.32. Following the completion of the sale, the insider directly owned 41,804 shares in the company, valued at approximately $7,227,075.52. The trade was a 89.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 356,559 shares of company stock worth $61,548,969 in the last three months. Corporate insiders own 41.60% of the company's stock.

Institutional Trading of World Acceptance

Large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in World Acceptance by 72.1% in the 1st quarter. Versant Capital Management Inc now owns 265 shares of the credit services provider's stock worth $34,000 after acquiring an additional 111 shares during the last quarter. GAMMA Investing LLC increased its stake in World Acceptance by 570.9% in the 1st quarter. GAMMA Investing LLC now owns 369 shares of the credit services provider's stock worth $47,000 after acquiring an additional 314 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in World Acceptance by 103.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 569 shares of the credit services provider's stock worth $94,000 after acquiring an additional 289 shares during the last quarter. KLP Kapitalforvaltning AS increased its stake in World Acceptance by 60.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 800 shares of the credit services provider's stock worth $132,000 after acquiring an additional 300 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in World Acceptance by 876.2% in the 1st quarter. Russell Investments Group Ltd. now owns 820 shares of the credit services provider's stock worth $104,000 after acquiring an additional 736 shares during the last quarter. Institutional investors own 83.63% of the company's stock.

World Acceptance Company 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.