World Acceptance (NASDAQ:WRLD) Hits New 1-Year High – What’s Next?

World Acceptance Corporation (NASDAQ:WRLD)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $189.80 and last traded at $188.7770, with a volume of 13698 shares trading hands. The stock had previously closed at $184.63.

Wall Street Analysts Forecast Growth

WRLD has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of World Acceptance in a report on Friday, March 27th. Wall Street Zen upgraded shares of World Acceptance from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, World Acceptance presently has a consensus rating of “Hold”.

World Acceptance Trading Up 3.6%

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 market cap of $936.54 million, a price-to-earnings ratio of 27.35 and a beta of 1.19. The firm has a 50 day moving average price of $161.01 and a two-hundred day moving average price of $145.78.

World Acceptance (NASDAQ:WRLD) last announced its earnings results on Thursday, April 30th. The credit services provider reported $7.70 EPS for the quarter, missing the consensus estimate of $7.74 by ($0.04). World Acceptance had a net margin of 5.98% and a return on equity of 9.36%. The company had revenue of $164.31 million during the quarter, compared to the consensus estimate of $168.40 million.

Insider Buying and Selling

In related news, insider Luke J. Umstetter sold 1,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $181.66, for a total value of $181,660.00. Following the transaction, the insider owned 28,245 shares in the company, valued at $5,130,986.70. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Benjamin E. Robinson III sold 180 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $160.00, for a total transaction of $28,800.00. Following the sale, the director directly owned 4,926 shares in the company, valued at $788,160. This trade represents a 3.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,879 shares of company stock valued at $335,089 over the last quarter. Insiders own 41.60% of the company’s stock.

Hedge Funds Weigh In On World Acceptance

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in shares of World Acceptance by 97.5% during the 1st quarter. Bank of America Corp DE now owns 20,545 shares of the credit services provider’s stock valued at $2,774,000 after acquiring an additional 10,140 shares during the period. EverSource Wealth Advisors LLC increased its stake in World Acceptance by 102.4% in the first quarter. EverSource Wealth Advisors LLC now owns 255 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 129 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of World Acceptance by 4.9% in the 1st quarter. Renaissance Technologies LLC now owns 48,800 shares of the credit services provider’s stock valued at $6,590,000 after buying an additional 2,300 shares during the period. Public Employees Retirement System of Ohio increased its position in World Acceptance by 3,071.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 4,821 shares of the credit services provider’s stock valued at $651,000 after buying an additional 4,669 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in World Acceptance in the 1st quarter valued at about $680,000. 83.63% of the stock is owned by institutional investors and hedge funds.

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.