Texas Permanent School Fund reduced its holdings in World Acceptance Co. (NASDAQ: WRLD – Get a rating) by 4.3% in the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The institutional investor held 2,924 shares of the credit service provider after selling 132 shares during the quarter. The Texas Permanent School Fund’s holdings in World Acceptance were worth $561,000 when it last filed with the SEC.
A number of other institutional investors have also recently changed their positions in the company. The Public Sector Pension Investment Board increased its position in World Acceptance shares by 0.8% in the fourth quarter. The Public Sector Pension Investment Board now owns 8,591 shares of the credit service provider worth $2,108,000 after buying 70 more shares last quarter. The New York State Teachers’ Retirement System improved its position in global acceptance by 1.1% in Q1. The New York State Teachers’ Retirement System now owns 9,371 shares of the credit service provider worth $1,798,000 after acquiring an additional 100 shares during the period. Patton Albertson Miller Group LLC increased its position in World Acceptance by 1.3% during the 1st quarter. Patton Albertson Miller Group LLC now owns 11,239 shares of the credit services provider worth $2,156,000 after acquiring an additional 140 shares during the period. Bank of America Corp DE increased its position in World Acceptance by 2.0% during the 4th quarter. Bank of America Corp DE now owns 8,825 shares of the credit service provider worth $2,165,000 after acquiring an additional 176 shares during the period. Finally, CWM LLC acquired a new position in World Acceptance stock in Q4 valued at approximately $48,000. Institutional investors and hedge funds hold 85.05% of the company’s shares.
Global Acceptance Price Performance
Shares of Global Acceptance Stock opened at $138.26 on Friday. The company has a quick ratio of 17.67, a current ratio of 17.67 and a debt ratio of 2.19. World Acceptance Co. has a 12-month low of $98.96 and a 12-month high of $265.75. The company has a 50-day moving average price of $118.74 and a 200-day moving average price of $158.65. The company has a market capitalization of $868.55 million, a PE ratio of 30.59 and a beta of 1.48.
Worldwide Acceptance (NASDAQ: WRLD – Get a rating) last announced its quarterly results on Wednesday, July 27. The credit service provider reported ($1.53) earnings per share for the quarter, missing the consensus estimate of $0.85 per ($2.38). World Acceptance had a net margin of 4.81% and a return on equity of 11.50%. In the same period a year earlier, the company posted earnings per share of $2.44. Sell-side analysts expect World Acceptance Co. to post earnings per share of 4.95 for the current fiscal year.
A Wall Street analyst gives his opinion
Several stock analysts have recently released reports on WRLD stocks. StockNews.com moved global acceptance from a “hold” rating to a “buy” rating in a Monday, May 2 report. Stephens cut its price target on World Acceptance from $159.00 to $105.00 and set an “underweight” rating for the company in a Thursday, July 28 report. BMO Capital Markets cut its price target on global acceptance from $57.00 to $52.00 in a Friday, July 29 report. Finally, TheStreet upgraded World Acceptance from a “b-” grade to a “c+” grade in a Thursday, May 12 report.
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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