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

World Acceptance Co. (NASDAQ:WRLD - Get Free Report) gapped up before the market opened 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 traded.

The credit services provider reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $1.22. World Acceptance had a return on equity of 19.03% and a net margin of 14.41%.

Analyst Upgrades and Downgrades

A number of research firms have commented on WRLD. StockNews.com raised shares of World Acceptance from a "buy" rating to a "strong-buy" rating in a research report on Monday, January 13th. Stephens started coverage on World Acceptance in a report on Wednesday, November 13th. They issued an "equal weight" rating and a $10.00 price objective for the company.

Insider Buying and Selling

In other World Acceptance news, insider Luke J. Umstetter sold 600 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $150.00, for a total value of $90,000.00. Following the transaction, the insider now directly owns 15,248 shares in the company, valued at approximately $2,287,200. This trade represents a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 43.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On World Acceptance

A number of institutional investors have recently bought and sold shares of WRLD. Point72 DIFC Ltd purchased a new position in shares of World Acceptance during the 2nd quarter valued at $47,000. FMR LLC raised its holdings in World Acceptance by 19.0% during the third quarter. FMR LLC now owns 822 shares of the credit services provider's stock valued at $97,000 after acquiring an additional 131 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of World Acceptance in the second quarter worth about $140,000. HighTower Advisors LLC grew its position 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 worth $211,000 after purchasing an additional 163 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in World Acceptance by 53.3% during the 3rd quarter. Quantbot Technologies LP now owns 1,997 shares of the credit services provider's stock valued at $236,000 after purchasing an additional 694 shares during the period. 83.63% of the stock is owned by institutional investors.

World Acceptance Stock Down 1.4 %

The firm has a market capitalization of $812.39 million, a P/E ratio of 9.87 and a beta of 1.44. The company has a current ratio of 22.46, a quick ratio of 19.53 and a debt-to-equity ratio of 1.31. The company has a 50 day simple moving average of $119.53 and a two-hundred day simple moving average of $118.67.

About World Acceptance

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.