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

World Acceptance Co. (NASDAQ:WRLD) shares gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. 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.

The credit services provider reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $1.22. World Acceptance had a return on equity of 19.85% and a net margin of 15.02%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on WRLD shares. StockNews.com upgraded 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 research report on Wednesday, November 13th. They issued an “equal weight” rating and a $10.00 price target for the company.

Insider Activity

In other World Acceptance 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 of the company’s stock, valued at $1,299,591. The trade was a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 43.20% of the company’s stock.

Hedge Funds Weigh In On World Acceptance

A number of large investors have recently modified their holdings of the company. Exchange Traded Concepts LLC grew its position in World Acceptance by 6.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 11,521 shares of the credit services provider’s stock valued at $1,295,000 after acquiring an additional 708 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of World Acceptance by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,774 shares of the credit services provider’s stock valued at $2,569,000 after purchasing an additional 7,223 shares during the last quarter. Barclays PLC grew its holdings in shares of World Acceptance by 282.9% during the 3rd quarter. Barclays PLC now owns 7,657 shares of the credit services provider’s stock valued at $903,000 after purchasing an additional 5,657 shares during the last quarter. Jane Street Group LLC boosted its position in World Acceptance by 24.0% during the third quarter. Jane Street Group LLC now owns 8,271 shares of the credit services provider’s stock valued at $976,000 after buying an additional 1,601 shares during the period. Finally, HighTower Advisors LLC grew its stake in shares of World Acceptance by 10.0% during the third quarter. HighTower Advisors LLC now owns 1,791 shares of the credit services provider’s stock valued at $211,000 after buying an additional 163 shares during the last quarter. 83.63% of the stock is owned by hedge funds and other institutional investors.

World Acceptance Stock Up 10.4 %

The firm has a market capitalization of $821.22 million, a PE ratio of 9.71 and a beta of 1.44. The stock has a 50 day simple moving average of $117.77 and a 200 day simple moving average of $118.19. The company has a current ratio of 19.53, a quick ratio of 19.53 and a debt-to-equity ratio of 1.21.

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.