Hedge Funds Are Betting On World Acceptance Corp. (WRLD)

As one would reasonably expect, some big names were breaking ground themselves. Israel Englander’s Millennium Management created the most valuable position in World Acceptance Corp. (NASDAQ:WRLD). According to regulatory filings, the fund had $1.9 million invested in the company at the end of the quarter. Michael Platt and William Reeves’s BlueCrest Capital Mgmt. also made a $0.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Ken Griffin’s Citadel Investment Group, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as World Acceptance Corp. (NASDAQ:WRLD) but similarly valued. These stocks are China Distance Education Hldgs Ltd (ADR) (NYSE:DL), Spark Energy Inc (NASDAQ:SPKE), Donegal Group Inc (NASDAQ:DGICA), and Casella Waste Systems Inc. (NASDAQ:CWST). This group of stocks’ market caps resemble WRLD’s market cap.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $32 million. That figure was $29 million in WRLD’s case. Casella Waste Systems Inc. (NASDAQ:CWST) is the most popular stock in this table. On the other hand Donegal Group Inc (NASDAQ:DGICA) is the least popular one with only 3 bullish hedge fund positions. World Acceptance Corp. (NASDAQ:WRLD) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CWST might be a better candidate to consider taking a long position in.

Disclosure: none.