World Acceptance (NASDAQ:WRLD) Cut to Hold at ValuEngine

ValuEngine downgraded shares of World Acceptance (NASDAQ:WRLD) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, ValuEngine reports.

WRLD has been the subject of a number of other reports. Zacks Investment Research downgraded shares of World Acceptance from a hold rating to a strong sell rating in a research report on Saturday, August 17th. BidaskClub cut shares of World Acceptance from a buy rating to a hold rating in a research note on Monday, September 23rd. Janney Montgomery Scott restated a sell rating and set a $87.00 price target (down from $108.00) on shares of World Acceptance in a research note on Thursday, July 25th. Finally, BMO Capital Markets dropped their price target on shares of World Acceptance to $65.00 and set an underperform rating on the stock in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. World Acceptance has a consensus rating of Sell and an average price target of $102.67.

Shares of World Acceptance stock traded up $2.76 on Wednesday, reaching $123.86. 73,424 shares of the company traded hands, compared to its average volume of 102,570. World Acceptance has a 52 week low of $89.78 and a 52 week high of $175.78. The company has a 50 day moving average of $132.45 and a 200 day moving average of $136.94. The firm has a market capitalization of $1.12 billion, a PE ratio of 15.42 and a beta of 2.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 17.63 and a quick ratio of 17.63.

World Acceptance (NASDAQ:WRLD) last released its earnings results on Thursday, July 25th. The credit services provider reported $0.97 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.05 by ($1.08). World Acceptance had a net margin of 12.02% and a return on equity of 11.94%. The company had revenue of $138.40 million for the quarter, compared to the consensus estimate of $134.64 million. During the same period in the prior year, the company earned $1.69 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. As a group, analysts anticipate that World Acceptance will post 6.78 earnings per share for the current year.

In related news, SVP Scott Mcintyre sold 1,891 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $139.00, for a total transaction of $262,849.00. Following the sale, the senior vice president now directly owns 22,949 shares in the company, valued at approximately $3,189,911. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Alice Lindsay Caulder sold 384 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $130.00, for a total transaction of $49,920.00. Following the sale, the senior vice president now owns 21,917 shares in the company, valued at $2,849,210. The disclosure for this sale can be found here. Insiders have sold a total of 10,865 shares of company stock worth $1,517,705 over the last 90 days. 30.00% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. Northern Trust Corp lifted its stake in shares of World Acceptance by 1.4% during the 2nd quarter. Northern Trust Corp now owns 157,753 shares of the credit services provider’s stock valued at $25,889,000 after buying an additional 2,223 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of World Acceptance by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 95,291 shares of the credit services provider’s stock valued at $15,638,000 after buying an additional 5,883 shares in the last quarter. Goodnow Investment Group LLC lifted its stake in shares of World Acceptance by 2.5% during the 2nd quarter. Goodnow Investment Group LLC now owns 61,410 shares of the credit services provider’s stock valued at $10,078,000 after buying an additional 1,490 shares in the last quarter. Invesco Ltd. lifted its stake in shares of World Acceptance by 5.7% during the 2nd quarter. Invesco Ltd. now owns 36,008 shares of the credit services provider’s stock valued at $5,909,000 after buying an additional 1,955 shares in the last quarter. Finally, Morgan Stanley lifted its stake in World Acceptance by 1,220.8% in the 2nd quarter. Morgan Stanley now owns 30,114 shares of the credit services provider’s stock worth $4,942,000 after purchasing an additional 27,834 shares in the last quarter. Institutional investors own 86.10% of the company’s stock.

World Acceptance Company Profile

World Acceptance Corporation engages in small-loan consumer finance business. The company offers short-term small and medium-term larger installment loans, as well as related credit insurance and ancillary products and services to individuals. It also provides automobile club memberships to its borrowers; and income tax return preparation and electronic filing services.

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