World Acceptance (NASDAQ:WRLD) Hits New 12-Month High Following Strong Earnings

World Acceptance Co. (NASDAQ:WRLDGet Free Report) shares hit a new 52-week high during mid-day 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 changing hands. The stock had previously closed at $129.35.

The credit services provider reported $2.45 EPS for the quarter, beating the consensus estimate of $1.23 by $1.22. World Acceptance had a net margin of 15.02% and a return on equity of 19.85%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. StockNews.com upgraded shares of World Acceptance from a “buy” rating to a “strong-buy” rating in a report on Monday, January 13th. Stephens started coverage on shares of World Acceptance in a report on Wednesday, November 13th. They set an “equal weight” rating and a $10.00 price objective for the company.

Check Out Our Latest Report on World Acceptance

Insiders Place Their Bets

In other news, insider Luke J. Umstetter sold 550 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $114.30, for a total value of $62,865.00. Following the completion of the transaction, the insider now directly owns 11,370 shares in the company, valued at approximately $1,299,591. This trade represents a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 43.20% of the company’s stock.

Hedge Funds Weigh In On World Acceptance

Hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd purchased a new position in World Acceptance during the second quarter valued at approximately $47,000. FMR LLC grew its stake in World Acceptance by 19.0% during the third quarter. FMR LLC now owns 822 shares of the credit services provider’s stock valued at $97,000 after acquiring an additional 131 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in World Acceptance during the second quarter valued at approximately $140,000. HighTower Advisors LLC grew its stake in World Acceptance by 10.0% during the third quarter. HighTower Advisors LLC now owns 1,791 shares of the credit services provider’s stock valued at $211,000 after acquiring an additional 163 shares in the last quarter. Finally, Quantbot Technologies LP grew its stake in World Acceptance by 53.3% during the third quarter. Quantbot Technologies LP now owns 1,997 shares of the credit services provider’s stock valued at $236,000 after acquiring an additional 694 shares in the last quarter. Hedge funds and other institutional investors own 83.63% of the company’s stock.

World Acceptance Trading Up 16.3 %

The firm’s 50 day moving average is $118.46 and its 200 day moving average is $118.32. The company has a market cap of $864.74 million, a PE ratio of 10.22 and a beta of 1.44. The company has a debt-to-equity ratio of 1.21, a current ratio of 19.53 and a quick ratio of 19.53.

World Acceptance Company Profile

(Get Free Report)

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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