World Acceptance Corporation (NASDAQ: WRLD) experienced a notable surge in trading volume on Tuesday, with approximately 105,607 shares exchanged during mid-day trading. This represents an increase of 6% from the previous session’s volume of 99,257 shares. The stock was last priced at $136.22, slightly down from its previous close of $136.85.
Analysts have recently updated their recommendations for World Acceptance stock. Zacks Research moved its rating from a “strong sell” to a “hold” on December 22, 2023. Additionally, Weiss Ratings reaffirmed a “hold (c)” rating on December 29, 2023. Currently, two analysts have rated the stock as a hold, leading to an average rating of “Hold” according to MarketBeat.com.
Latest Earnings Report and Insider Activity
World Acceptance announced its earnings results for the latest quarter on January 27, 2024. The credit services provider reported an earnings per share (EPS) of ($0.19), falling short of analysts’ consensus estimates of $0.58 by $0.77. The company generated $128.47 million in revenue, below the expected $133.49 million. World Acceptance recorded a return on equity of 10.80% and a net margin of 7.46%. Analysts project the company will achieve an EPS of 14 for the current fiscal year.
In related news, insider John L. Calmes, Jr. sold 1,000 shares on December 17, 2023, at an average price of $149.21, totaling $149,210.00. Following this transaction, Calmes owns 54,395 shares valued at approximately $8,116,277.95, indicating a 1.81% decrease in ownership. Another insider, Daniel Clinton Dyer, sold 8,857 shares on December 16, 2023, for $1,319,693.00, reducing his position by 20.84% to 33,640 shares worth $5,012,360. Over the past 90 days, insiders have sold a total of 9,946 shares valued at $1,482,253, with corporate insiders holding 41.60% of the company’s stock.
Institutional Investor Activity
Recent activities from institutional investors have also impacted World Acceptance. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in the company by 4.0% during the first quarter, now owning 2,044 shares valued at $259,000. Empowered Funds LLC raised its stake by 4.1%, bringing its total to 23,422 shares worth $2,964,000.
Additionally, Y Intercept Hong Kong Ltd. acquired a new stake during the second quarter valued at approximately $226,000. The Teacher Retirement System of Texas significantly boosted its holdings by 231.1%, now owning 10,248 shares valued at $1,692,000. Lastly, Geode Capital Management LLC increased its stake by 6.1%, now holding 84,846 shares worth $14,011,000. Overall, institutional investors and hedge funds cumulatively own 83.63% of World Acceptance’s stock.
World Acceptance Corporation, headquartered in Greenville, South Carolina, is a consumer finance company that specializes in providing credit solutions to underserved customers. Founded in 1972, the company has developed a reputation for tailored lending practices that prioritize responsible underwriting and personalized customer service. Its core offerings include short-term installment loans designed to meet the immediate financial needs of its clients.
