Fly News Breaks for October 18, 2019
Oct 18, 2019 | 08:52 EDT
Janney Montgomery Scott analyst John Rowan said he is aware of recent reports that claim World Acceptance is either in breach, or soon to be in breach, of a debt covenant. However, following a talk with management, he is confident this is not the case. He remains cautious on the stock given the recent spike in credit costs and the company's "highly dilutive" executive compensation package, and he keeps a Sell rating on the shares, but not because he thinks World will breach its debt covenant, Rowan tells investors.
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