World Acceptance Insider Sells Shares Amid Market Fluctuations

World Acceptance Corporation insider John Calmes, Jr. sold 1,000 shares of the company’s stock on December 17, 2023. The shares were sold at an average price of $149.21, resulting in a total transaction value of $149,210.00. Following this sale, Calmes retained 54,395 shares, valued at approximately $8,116,277.95, marking a 1.81% decrease in his ownership stake.

The transaction was publicly disclosed in a filing with the U.S. Securities and Exchange Commission (SEC). This insider selling comes as World Acceptance’s stock experienced a decline, trading down 2.5% to $144.18 on the following Friday. The trading volume reached 78,285 shares, significantly higher than its average volume of 47,843 shares. Currently, the company boasts a market capitalization of $726.39 million and a price-to-earnings (PE) ratio of 13.80.

Financial Performance and Market Position

In its most recent quarterly earnings report issued on October 23, 2023, World Acceptance reported earnings per share (EPS) of ($0.38), falling short of analysts’ consensus estimates of $1.87 by ($2.25). The company’s quarterly revenue totaled $120.12 million, also below expectations of $127.85 million. World Acceptance recorded a net margin of 10.00% and a return on equity of 13.65%. Analysts forecast an average EPS of 14 for the current fiscal year.

World Acceptance Corporation, headquartered in Greenville, South Carolina, specializes in providing credit solutions to underserved customers. Founded in 1972, the company has built a reputation for responsible lending practices and personalized customer service, focusing on short-term installment loans.

Institutional Investments Shift

Several institutional investors have recently adjusted their positions in World Acceptance. Vanguard Group Inc. increased its stake by 2.2% in the first quarter, now holding 349,238 shares valued at $44,196,000 after acquiring an additional 7,429 shares. American Century Companies Inc. boosted its holdings by 14.2% in the third quarter, now owning 85,622 shares worth $14,482,000 after purchasing 10,649 shares.

Similarly, Geode Capital Management LLC grew its stake by 6.1%, now holding 84,846 shares valued at $14,011,000. Other notable increases include Bridgeway Capital Management LLC, which raised its position by 9.0%, and Ingalls & Snyder LLC, which increased its stake by 0.9%. Overall, hedge funds and institutional investors own approximately 83.63% of World Acceptance’s stock.

Investors and analysts alike will be closely monitoring World Acceptance’s performance in the coming months, especially in light of recent insider transactions and market fluctuations. The company continues to navigate the challenges of the credit services industry while striving to meet the financial needs of its clients.