Shares of World Acceptance Corp. (NASDAQ:WRLD) shot up 2.3% on Wednesday . The company traded as high as $52.42 and last traded at $52.15, with a volume of 60,824 shares. The stock had previously closed at $50.97.

Separately, Zacks Investment Research lowered shares of World Acceptance Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th.

The stock has a market capitalization of $454.29 million and a P/E ratio of 5.19. The firm has a 50 day moving average price of $43.39 and a 200-day moving average price of $38.64.

World Acceptance Corp. (NASDAQ:WRLD) last announced its quarterly earnings results on Thursday, May 5th. The company reported $3.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.71 by $0.42. The business had revenue of $142.30 million for the quarter, compared to the consensus estimate of $138.85 million. During the same quarter in the prior year, the company posted $5.34 EPS. The business’s revenue was down 15.0% compared to the same quarter last year. Equities research analysts predict that World Acceptance Corp. will post $8.63 EPS for the current year.

A number of hedge funds recently made changes to their positions in the stock. First Trust Advisors LP increased its stake in shares of World Acceptance Corp. by 80.8% in the fourth quarter. First Trust Advisors LP now owns 93,299 shares of the company’s stock worth $3,461,000 after buying an additional 41,703 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of World Acceptance Corp. by 14.5% in the fourth quarter. California Public Employees Retirement System now owns 66,200 shares of the company’s stock worth $2,456,000 after buying an additional 8,400 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of World Acceptance Corp. by 63.1% in the fourth quarter. Morgan Stanley now owns 32,023 shares of the company’s stock worth $1,189,000 after buying an additional 12,390 shares in the last quarter.

World Acceptance Corporation is a small-loan consumer finance company. The Company offers short-term small loans, medium-term larger loans, related credit insurance products and ancillary products and services to individuals who have limited access to other sources of consumer credit. The Company also offers income tax return preparation services and electronic filing program to its customer base and to others.

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