Smith Asset Management Group LP boosted its stake in World Acceptance Corp. (NASDAQ:WRLD) by 94.8% during the second quarter, Holdings Channel reports. The firm owned 8,920 shares of the company’s stock after buying an additional 4,340 shares during the period. Smith Asset Management Group LP’s holdings in World Acceptance Corp. were worth $407,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of WRLD. BNP Paribas Arbitrage SA raised its stake in shares of World Acceptance Corp. by 91.8% in the second quarter. BNP Paribas Arbitrage SA now owns 2,607 shares of the company’s stock valued at $119,000 after buying an additional 1,248 shares during the period. Royal Bank of Canada raised its stake in shares of World Acceptance Corp. by 134.1% in the first quarter. Royal Bank of Canada now owns 9,295 shares of the company’s stock valued at $352,000 after buying an additional 5,325 shares during the period. Spark Investment Management LLC purchased a new stake in shares of World Acceptance Corp. during the first quarter valued at about $451,000. Wellington Management Group LLP purchased a new stake in shares of World Acceptance Corp. during the first quarter valued at about $580,000. Finally, Prudential Financial Inc. raised its stake in shares of World Acceptance Corp. by 43.2% in the first quarter. Prudential Financial Inc. now owns 28,236 shares of the company’s stock valued at $1,071,000 after buying an additional 8,514 shares during the period. 96.09% of the stock is owned by hedge funds and other institutional investors.
World Acceptance Corp. (NASDAQ:WRLD) traded down 2.37% during midday trading on Monday, hitting $47.76. The stock had a trading volume of 107,751 shares. The company has a market capitalization of $416.66 million, a PE ratio of 5.18 and a beta of 1.76. The stock’s 50-day moving average is $46.88 and its 200-day moving average is $43.44. World Acceptance Corp. has a 1-year low of $25.30 and a 1-year high of $55.43.
World Acceptance Corp. (NASDAQ:WRLD) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.89 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.22 by $0.33. World Acceptance Corp. had a return on equity of 21.02% and a net margin of 14.52%. The business earned $127.10 million during the quarter, compared to analysts’ expectations of $130.91 million. During the same quarter in the previous year, the company posted $2.71 EPS. The company’s quarterly revenue was down 7.4% on a year-over-year basis. Equities research analysts forecast that World Acceptance Corp. will post $7.83 EPS for the current year.
Several equities research analysts have issued reports on WRLD shares. BMO Capital Markets reaffirmed a “hold” rating and set a $41.00 price target on shares of World Acceptance Corp. in a research note on Friday, July 29th. Jefferies Group reaffirmed a “hold” rating and set a $37.00 price target on shares of World Acceptance Corp. in a research note on Friday, July 15th. Finally, Zacks Investment Research lowered World Acceptance Corp. from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 30th.
World Acceptance Corp. Company Profile
World Acceptance Corporation operates a small-loan consumer finance business in 15 states and Mexico as of March 31, 2016. The Company offers short-term small installment loans, medium-term larger installment loans, related credit insurance and ancillary products and services to individuals. The Company offers standardized installment loans generally between $300 and $4,000 through 1,339 branches in Alabama, Georgia, Idaho, Illinois, Indiana, Kentucky, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma, South Carolina, Texas, Tennessee, Wisconsin and Mexico as of March 31, 2016.
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