Comerica Bank reduced its position in shares of World Acceptance Co. (NASDAQ: WRLD – Get a rating) by 2.9% in the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The institutional investor held 3,558 shares of the credit service provider after selling 105 shares during the period. Comerica Bank’s holdings in World Acceptance were worth $729,000 at the end of the last quarter.
Other major investors have also recently changed their positions in the company. CWM LLC purchased a new stake in World Acceptance in the fourth quarter worth approximately $48,000. Cooper Creek Partners Management LLC purchased a new stake in World Acceptance in the fourth quarter worth approximately $225,000. Envestnet Asset Management Inc. acquired a new stake in World Acceptance in the fourth quarter worth approximately $240,000. ProShare Advisors LLC purchased a new stake in World Acceptance in the fourth quarter worth approximately $264,000. Finally, Harvest Investment Services LLC purchased a new stake in World Acceptance in the fourth quarter worth approximately $293,000. 85.05% of the shares are held by institutional investors.
Analyst upgrades and downgrades
Several analysts have commented on WRLD’s actions. TheStreet downgraded World Acceptance shares from a ‘b-‘ rating to a ‘c+’ rating in a Thursday, May 12 research report. Stephens lowered his price target on World Acceptance shares from $159.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday. BMO Capital Markets cut its target price on World Acceptance shares from $57.00 to $52.00 in a research note on Friday. To finish, StockNews.com upgraded World Acceptance shares from a “hold” to a “buy” rating in a Monday, May 2, research note.
Global Acceptance Price Performance
WRLD opened at $110.78 on Friday. The company has a market capitalization of $695.78 million, a price-earnings ratio of 13.05 and a beta of 1.56. The company has a quick ratio of 15.36, a current ratio of 15.36 and a leverage ratio of 1.86. The company has a 50-day moving average price of $121.43 and a 200-day moving average price of $167.01. World Acceptance Co. has a 12-month low of $98.96 and a 12-month high of $265.75.
Worldwide Acceptance (NASDAQ: WRLD – Get a rating) last released its quarterly earnings data on Wednesday, July 27. The credit service provider reported ($1.53) EPS for the quarter, missing the consensus estimate of $0.85 per ($2.38). World Acceptance posted a net margin of 9.26% and a return on equity of 13.42%. In the same quarter a year earlier, the company posted EPS of $2.44. Equity analysts expect World Acceptance Co. to post EPS of 5.23 for the current year.
Global Acceptance Company Profile
World Acceptance Corporation, together with its subsidiaries, is engaged in the small loan consumer finance business. The company offers short-term, small-payment loans, medium-term, larger-payment loans, related credit insurance, and ancillary products and services to individuals. It also provides automobile club memberships to its borrowers; and electronic tax return preparation and filing services.
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