World Acceptance (NASDAQ:WRLD) Trading Up 15% Following Strong Earnings

World Acceptance Corporation (NASDAQ:WRLD)’s stock price shot up 15% during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $198.99 and last traded at $208.1960. 15,948 shares traded hands during trading, a decline of 88% from the average daily volume of 134,016 shares. The stock had previously closed at $181.08.

The credit services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $1.54. World Acceptance had a net margin of 5.98% and a return on equity of 9.36%.

Analyst Ratings Changes

WRLD has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of World Acceptance in a research report on Wednesday, June 24th. Wall Street Zen lowered World Acceptance from a “buy” rating to a “hold” rating in a research note on Sunday, June 28th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Insider Buying and Selling at World Acceptance

In other news, Director Charles D. Way sold 833 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $225.00, for a total value of $187,425.00. Following the transaction, the director owned 12,729 shares of the company’s stock, valued at approximately $2,864,025. This trade represents a 6.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin E. Robinson III sold 2,031 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $222.77, for a total value of $452,445.87. Following the completion of the transaction, the director directly owned 4,836 shares in the company, valued at $1,077,315.72. This trade represents a 29.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 5,576 shares of company stock worth $1,149,890. 41.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On World Acceptance

A number of large investors have recently added to or reduced their stakes in the company. iSAM Funds UK Ltd purchased a new stake in World Acceptance during the 3rd quarter worth $30,000. EverSource Wealth Advisors LLC boosted its position in World Acceptance by 102.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 255 shares of the credit services provider’s stock valued at $34,000 after buying an additional 129 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of World Acceptance by 241.2% during the third quarter. Russell Investments Group Ltd. now owns 331 shares of the credit services provider’s stock valued at $56,000 after acquiring an additional 234 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of World Acceptance by 103.2% during the second quarter. Tower Research Capital LLC TRC now owns 569 shares of the credit services provider’s stock valued at $94,000 after acquiring an additional 289 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of World Acceptance by 15.4% during the second quarter. GAMMA Investing LLC now owns 548 shares of the credit services provider’s stock worth $123,000 after acquiring an additional 73 shares during the last quarter. 83.63% of the stock is owned by institutional investors and hedge funds.

World Acceptance Stock Performance

The firm has a market cap of $980.15 million, a price-to-earnings ratio of 28.27 and a beta of 1.13. The company has a quick ratio of 22.99, a current ratio of 22.99 and a debt-to-equity ratio of 1.26. The company has a 50 day moving average of $182.26 and a 200 day moving average of $153.63.

About World Acceptance

World Acceptance Corporation (NASDAQ: WRLD) is a consumer finance company headquartered in Greenville, South Carolina. Founded in 1972, the company provides credit solutions to underserved customers who may have limited access to traditional banking services. Over the decades, World Acceptance has built a reputation for tailored lending that emphasizes responsible underwriting and personalized customer service.

The company’s core product offerings include short-term installment loans designed to meet the immediate financial needs of its clients.