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

World Acceptance Co. (NASDAQ:WRLD)’s share price reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $161.63 and last traded at $150.39, with a volume of 93631 shares trading hands. The stock had previously closed at $129.35.

The credit services provider reported $2.45 earnings per share (EPS) for the quarter, topping 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 analysts have issued reports on WRLD shares. StockNews.com upgraded shares of World Acceptance from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 13th. Stephens assumed coverage on shares of World Acceptance in a research note on Wednesday, November 13th. They issued an “equal weight” rating and a $10.00 price objective on the stock.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC lifted its stake 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 valued at $2,741,000 after buying an additional 12,333 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of World Acceptance by 38.0% in the second quarter. AQR Capital Management LLC now owns 40,475 shares of the credit services provider’s stock valued at $5,002,000 after buying an additional 11,135 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of World Acceptance by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 21,774 shares of the credit services provider’s stock valued at $2,569,000 after buying an additional 7,223 shares in the last quarter. PDT Partners LLC bought a new position in shares of World Acceptance in the third quarter valued at $830,000. Finally, Barclays PLC lifted its stake 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 buying an additional 5,657 shares in the last quarter. 83.63% of the stock is owned by institutional investors.

World Acceptance Price Performance

The stock has a market capitalization of $864.74 million, a P/E ratio of 10.22 and a beta of 1.44. The business’s 50 day simple moving average is $118.46 and its two-hundred day simple moving average is $118.32. 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.