World Acceptance (NASDAQ:WRLD) Shares Gap Up After Earnings Beat

Shares of World Acceptance Co. (NASDAQ:WRLD) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $129.35, but opened at $140.00. World Acceptance shares last traded at $143.34, with a volume of 5,454 shares traded.

The credit services provider reported $2.45 earnings per share 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%.

Analysts Set New Price Targets

WRLD has been the subject of a number of analyst reports. 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 report on Wednesday, November 13th. They set an “equal weight” rating and a $10.00 price objective on the stock.

Insider Buying and Selling

In related news, insider Luke J. Umstetter sold 550 shares of World Acceptance stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $114.30, for a total transaction of $62,865.00. Following the completion of the sale, the insider now owns 11,370 shares in the company, valued at approximately $1,299,591. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 43.20% of the company’s stock.

Institutional Investors Weigh In On World Acceptance

Several hedge funds have recently modified their holdings of the company. AQR Capital Management LLC lifted its stake in shares of World Acceptance by 38.0% during 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 during the period. Empowered Funds LLC boosted its holdings in shares of World Acceptance by 5.0% during the fourth quarter. Empowered Funds LLC now owns 22,497 shares of the credit services provider’s stock worth $2,530,000 after purchasing an additional 1,067 shares during the last quarter. Millennium Management LLC grew its position 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 purchasing an additional 12,333 shares during the period. JPMorgan Chase & Co. lifted its position in 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 buying an additional 7,223 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in World Acceptance by 27.4% in the 3rd quarter. GSA Capital Partners LLP now owns 11,663 shares of the credit services provider’s stock worth $1,376,000 after buying an additional 2,511 shares during the last quarter. 83.63% of the stock is owned by institutional investors and hedge funds.

World Acceptance Stock Up 16.3 %

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

World Acceptance Company Profile

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.