World Acceptance (NASDAQ:WRLD) Reaches New 12-Month High – Time to Buy?

World Acceptance Corporation (NASDAQ:WRLD) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $224.14 and last traded at $223.72, with a volume of 95677 shares trading hands. The stock had previously closed at $213.77.

Wall Street Analyst Weigh In

Several research firms recently commented on WRLD. Weiss Ratings reissued a “hold (c)” rating on shares of World Acceptance in a research note on Wednesday, June 24th. Wall Street Zen downgraded shares of World Acceptance from a “buy” rating to a “hold” rating in a research note on Sunday. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

World Acceptance Stock Up 4.7%

The firm has a market capitalization of $1.04 billion, a P/E ratio of 30.31 and a beta of 1.19. The company has a fifty day simple moving average of $164.46 and a 200 day simple moving average of $146.90. The company has a quick ratio of 22.99, a current ratio of 22.99 and a debt-to-equity ratio of 1.26.

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

Insider Activity

In related news, Director Charles D. Way sold 833 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $210.00, for a total transaction of $174,930.00. Following the sale, the director directly owned 13,562 shares of the company’s stock, valued at approximately $2,848,020. This represents a 5.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Luke J. Umstetter sold 1,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $181.66, for a total transaction of $181,660.00. Following the sale, the insider owned 28,245 shares of the company’s stock, valued at approximately $5,130,986.70. This represents a 3.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 2,712 shares of company stock valued at $510,019. Company insiders own 41.60% of the company’s stock.

Hedge Funds Weigh In On World Acceptance

Hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its holdings in shares of World Acceptance by 677.8% in the 3rd quarter. Intech Investment Management LLC now owns 11,582 shares of the credit services provider’s stock worth $1,959,000 after purchasing an additional 10,093 shares in the last quarter. WINTON GROUP Ltd lifted its holdings in shares of World Acceptance by 138.1% during the third quarter. WINTON GROUP Ltd now owns 20,241 shares of the credit services provider’s stock valued at $3,424,000 after purchasing an additional 11,741 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of World Acceptance by 14.2% during the third quarter. American Century Companies Inc. now owns 85,622 shares of the credit services provider’s stock valued at $14,482,000 after purchasing an additional 10,649 shares in the last quarter. SageGuard Financial Group LLC purchased a new stake in shares of World Acceptance during the fourth quarter valued at $528,000. Finally, CX Institutional boosted its position in shares of World Acceptance by 11.1% during the fourth quarter. CX Institutional now owns 41,097 shares of the credit services provider’s stock valued at $5,770,000 after buying an additional 4,098 shares during the last quarter. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

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.