World Acceptance (NASDAQ:WRLD) Shares Gap Down – Here’s Why

World Acceptance Co. (NASDAQ:WRLD)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $112.20, but opened at $109.35. World Acceptance shares last traded at $109.35, with a volume of 2,433 shares changing hands.

Analysts Set New Price Targets

Separately, Stephens began coverage on World Acceptance in a research report on Wednesday, November 13th. They issued an “equal weight” rating and a $10.00 price objective on the stock.

World Acceptance Stock Down 2.2 %

The company’s 50 day simple moving average is $117.65 and its 200-day simple moving average is $119.08. The company has a current ratio of 19.53, a quick ratio of 19.53 and a debt-to-equity ratio of 1.21. The firm has a market cap of $631.18 million, a P/E ratio of 7.46 and a beta of 1.42.

Insider Activity at World Acceptance

In other news, insider Luke J. Umstetter sold 550 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $114.30, for a total value of $62,865.00. Following the transaction, the insider now directly owns 11,370 shares in the company, valued at $1,299,591. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 43.20% of the stock is owned by insiders.

Institutional Investors Weigh In On World Acceptance

Large investors have recently made changes to their positions in the company. Quest Partners LLC raised its position in World Acceptance by 65.4% in the second quarter. Quest Partners LLC now owns 3,426 shares of the credit services provider’s stock worth $423,000 after acquiring an additional 1,355 shares during the period. Texas Permanent School Fund Corp boosted its holdings in World Acceptance by 28.8% in the 2nd quarter. Texas Permanent School Fund Corp now owns 3,785 shares of the credit services provider’s stock worth $468,000 after buying an additional 846 shares during the period. American Century Companies Inc. boosted its stake in shares of World Acceptance by 107.2% in the second quarter. American Century Companies Inc. now owns 39,580 shares of the credit services provider’s stock worth $4,891,000 after acquiring an additional 20,475 shares during the period. BOKF NA raised its stake in World Acceptance by 37.9% during the 2nd quarter. BOKF NA now owns 3,076 shares of the credit services provider’s stock valued at $380,000 after purchasing an additional 845 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in World Acceptance in the 2nd quarter worth approximately $815,000. 83.63% of the stock is currently owned by institutional investors.

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.