World Acceptance (NASDAQ:WRLD) Upgraded at BidaskClub

BidaskClub upgraded shares of World Acceptance (NASDAQ:WRLD) from a buy rating to a strong-buy rating in a research note issued to investors on Friday, BidAskClub reports.

A number of other research firms have also recently commented on WRLD. ValuEngine raised shares of World Acceptance from a hold rating to a buy rating in a research report on Tuesday, July 2nd. Janney Montgomery Scott reissued a sell rating and set a $87.00 target price (down previously from $108.00) on shares of World Acceptance in a research report on Thursday, July 25th. BMO Capital Markets decreased their target price on shares of World Acceptance to $65.00 and set an underperform rating for the company in a research report on Friday, July 26th. Finally, Zacks Investment Research cut shares of World Acceptance from a hold rating to a strong sell rating in a research report on Saturday, August 17th. Three research analysts have rated the stock with a sell rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $102.67.

NASDAQ:WRLD opened at $134.42 on Friday. World Acceptance has a 52 week low of $89.78 and a 52 week high of $175.78. The firm has a 50 day moving average of $145.65 and a 200 day moving average of $133.55. The company has a quick ratio of 17.63, a current ratio of 17.63 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 16.74 and a beta of 2.42.

World Acceptance (NASDAQ:WRLD) last posted its earnings results on Thursday, July 25th. The credit services provider reported $0.97 EPS 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 firm had revenue of $138.40 million for the quarter, compared to analysts’ expectations of $134.64 million. During the same period in the previous year, the company earned $1.69 EPS. The company’s revenue was up 12.5% on a year-over-year basis. As a group, analysts expect that World Acceptance will post 6.78 EPS for the current year.

In other World Acceptance 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 transaction, the senior vice president now owns 22,949 shares in the company, valued at approximately $3,189,911. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Alice Lindsay Caulder sold 501 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $174.67, for a total transaction of $87,509.67. Following the transaction, the senior vice president now owns 22,301 shares in the company, valued at approximately $3,895,315.67. The disclosure for this sale can be found here. Insiders have sold 10,451 shares of company stock valued at $1,460,035 in the last three months. 30.00% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of WRLD. Morgan Stanley increased its stake in World Acceptance by 1,220.8% during the 2nd quarter. Morgan Stanley now owns 30,114 shares of the credit services provider’s stock valued at $4,942,000 after purchasing an additional 27,834 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in World Acceptance during the 2nd quarter valued at approximately $4,200,000. Bank of New York Mellon Corp increased its stake in 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 purchasing an additional 5,883 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in World Acceptance during the 2nd quarter valued at approximately $935,000. Finally, Pinebridge Investments L.P. increased its stake in World Acceptance by 959.4% during the 2nd quarter. Pinebridge Investments L.P. now owns 6,240 shares of the credit services provider’s stock valued at $1,024,000 after purchasing an additional 5,651 shares in the last quarter. Institutional investors and hedge funds own 89.50% of the company’s stock.

About World Acceptance

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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