World Acceptance (NASDAQ:WRLD) Shares Gap Down Following Weak Earnings

World Acceptance Co. (NASDAQ:WRLD) shares gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $208.40, but opened at $179.35. World Acceptance shares last traded at $170.00, with a volume of 1,179 shares changing hands.

The credit services provider reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.60). World Acceptance had a return on equity of 23.05% and a net margin of 16.67%. During the same quarter in the previous year, the company posted $1.96 earnings per share.

WRLD has been the topic of a number of analyst reports. Zacks Investment Research raised shares of World Acceptance from a “hold” rating to a “strong-buy” rating and set a $228.00 price objective on the stock in a research report on Wednesday, October 13th. Stephens raised shares of World Acceptance from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $112.00 to $140.00 in a research report on Thursday, July 22nd.

In other news, Director Darrell E. Whitaker sold 833 shares of the company’s stock in a transaction on Friday, October 15th. The shares were sold at an average price of $193.49, for a total value of $161,177.17. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel Clinton Dyer sold 1,407 shares of the business’s stock in a transaction on Monday, August 9th. The shares were sold at an average price of $184.47, for a total transaction of $259,549.29. Following the completion of the transaction, the insider now owns 40,736 shares of the company’s stock, valued at $7,514,569.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,274 shares of company stock worth $1,787,200. 39.00% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CAS Investment Partners LLC lifted its stake in shares of World Acceptance by 6.8% in the 1st quarter. CAS Investment Partners LLC now owns 755,768 shares of the credit services provider’s stock valued at $98,068,000 after purchasing an additional 48,000 shares during the period. Vanguard Group Inc. raised its position in World Acceptance by 1.5% during the second quarter. Vanguard Group Inc. now owns 479,148 shares of the credit services provider’s stock worth $76,779,000 after acquiring an additional 7,094 shares during the period. State Street Corp raised its position in World Acceptance by 3.9% during the second quarter. State Street Corp now owns 141,273 shares of the credit services provider’s stock worth $22,638,000 after acquiring an additional 5,358 shares during the period. Geode Capital Management LLC raised its position in World Acceptance by 1.9% during the second quarter. Geode Capital Management LLC now owns 73,238 shares of the credit services provider’s stock worth $11,735,000 after acquiring an additional 1,366 shares during the period. Finally, Invesco Ltd. raised its position in World Acceptance by 12.1% during the second quarter. Invesco Ltd. now owns 36,626 shares of the credit services provider’s stock worth $5,868,000 after acquiring an additional 3,949 shares during the period. Hedge funds and other institutional investors own 83.60% of the company’s stock.

The company has a quick ratio of 13.37, a current ratio of 13.37 and a debt-to-equity ratio of 1.15. The stock’s 50-day simple moving average is $192.91 and its two-hundred day simple moving average is $168.81. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 11.64 and a beta of 1.62.

About World Acceptance (NASDAQ:WRLD)

World Acceptance Corp. engages in the small-loan consumer finance business. It offers short-term small instalment, medium-term larger loans, related credit insurance, ancillary products and services to individuals. The firm also offers income tax return preparation services to customers. The company also markets computer software and related services to financial services companies through its subsidiary ParaData Financial Systems.

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