Worldwide Acceptance (NASDAQ:WRLD – Get a rating) has been updated by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released Wednesday, Zacks.com reports. The brokerage currently has a target price of $211.00 on shares of the credit service provider. Zacks Investment ResearchThe stock’s target price indicates a potential upside of 10.11% from the stock’s previous close.
According to Zacks, “World Acceptance Corporation is engaged in the consumer credit business for small loans, providing small short-term loans, larger medium-term loans, related credit insurance and ancillary products and services to individuals”.
Separately, StockNews.com upgraded global acceptance from a “hold” rating to a “buy” rating in a Sunday, February 13 research note.
The NASDAQ WRLD fell $2.06 on Wednesday, hitting $191.63. 169 shares were traded, against an average volume of 36,121. World Acceptance has a fifty-two week low of $121.57 and a fifty-two week high of $265.75. The company has a 50-day moving average price of $194.04 and a 200-day moving average price of $207.36. The company has a quick ratio of 20.09, a current ratio of 20.09 and a leverage ratio of 1.76. The company has a market capitalization of $1.26 billion, a PE ratio of 15.35 and a beta of 1.58.
Worldwide Acceptance (NASDAQ:WRLD – Get a rating) last released its results on Tuesday, January 25. The credit services provider reported EPS of $1.14 for the quarter, missing analyst consensus estimates of $2.42 per ($1.28). The company posted revenue of $148.57 million for the quarter, versus analyst estimates of $140.12 million. World Acceptance had a return on equity of 19.63% and a net margin of 14.30%. In the same quarter a year earlier, the company posted EPS of $2.25. As a group, equity research analysts expect World Acceptance to post EPS of 12.01 for the current fiscal year.
In other World Acceptance news, Director Darrell E. Whitaker sold 2,500 shares of World Acceptance in a trade that took place on Monday, January 3. The stock was sold at an average price of $240.01, for a total transaction of $600,025.00. The transaction was disclosed in an SEC filing, available at the SEC website. Also, please Luke J. Umstetter sold 250 shares in a trade that took place on Monday, January 3. The shares were sold at an average price of $240.01, for a total value of $60,002.50. Disclosure of this sale can be found here. 39.00% of the shares are held by insiders.
Several institutional investors and hedge funds have recently changed their positions in the company. EAM Global Investors LLC acquired a new stake in World Acceptance during Q3, valued at approximately $2,368,000. Patton Albertson Miller Group LLC acquired a new stake in World Acceptance in the third quarter valued at approximately $1,839,000. Citigroup Inc. increased its stake in World Acceptance shares by 269.2% during the 4th quarter. Citigroup Inc. now owns 12,301 shares of the credit service provider worth $3,019,000 after buying 8,969 additional shares last quarter. EAM Investors LLC acquired a new equity stake in World Acceptance in Q3 valued at approximately $1,678,000. Finally, Invesco Ltd. increased its equity stake in World Acceptance by 19.2% in the fourth quarter. Invesco Ltd. now owns 50,396 shares of the credit service provider valued at $12,368,000 after purchasing an additional 8,115 shares last quarter. Institutional investors and hedge funds hold 85.69% of the company’s shares.
Global Acceptance Company Profile (Get a rating)
World Acceptance Corp. is active in the consumer credit business for small loans. It offers small short-term installments, larger medium-term loans, related credit insurance, ancillary products and services to individuals. The company also offers tax return preparation services to its clients. The company also markets computer software and related services to financial services companies through its subsidiary ParaData Financial Systems.
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
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