World Acceptance (NASDAQ:WRLD) Sets New 52-Week High After Better-Than-Expected Earnings

World Acceptance Co. (NASDAQ:WRLD) hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $161.63 and last traded at $150.39, with a volume of 93631 shares traded. The stock had previously closed at $129.35.

The credit services provider reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $1.22. World Acceptance had a net margin of 15.02% and a return on equity of 19.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com raised World Acceptance from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 13th. Stephens started coverage on World Acceptance in a research report on Wednesday, November 13th. They set an “equal weight” rating and a $10.00 target price on the stock.

Insider Activity

In related news, insider Luke J. Umstetter sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $150.00, for a total transaction of $90,000.00. Following the completion of the sale, the insider now directly owns 15,248 shares of the company’s stock, valued at approximately $2,287,200. This trade represents a 3.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 43.20% of the company’s stock.

Institutional Trading of World Acceptance

A number of hedge funds and other institutional investors have recently bought and sold shares of WRLD. Millennium Management LLC grew its holdings in shares of World Acceptance by 125.2% in the second quarter. Millennium Management LLC now owns 22,184 shares of the credit services provider’s stock worth $2,741,000 after purchasing an additional 12,333 shares during the last quarter. AQR Capital Management LLC grew its stake in World Acceptance by 38.0% in the 2nd quarter. AQR Capital Management LLC now owns 40,475 shares of the credit services provider’s stock worth $5,002,000 after acquiring an additional 11,135 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of World Acceptance by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 21,774 shares of the credit services provider’s stock worth $2,569,000 after acquiring an additional 7,223 shares during the period. PDT Partners LLC bought a new stake in shares of World Acceptance during the third quarter valued at approximately $830,000. Finally, Barclays PLC boosted its holdings in shares of World Acceptance by 282.9% in the third quarter. Barclays PLC now owns 7,657 shares of the credit services provider’s stock valued at $903,000 after purchasing an additional 5,657 shares during the period. Hedge funds and other institutional investors own 83.63% of the company’s stock.

World Acceptance Stock Performance

The firm has a 50 day moving average of $119.53 and a 200-day moving average of $118.67. The company has a market cap of $824.32 million, a P/E ratio of 9.75 and a beta of 1.44. The company has a quick ratio of 19.53, a current ratio of 19.53 and a debt-to-equity ratio of 1.21.

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.