Key Points
- Fund L.P. Forager sold 7,576 shares of Regional Management (RM) on Jan. 6 at an average price of $38.88 for $294,554.88, leaving it with 1,060,727 shares (a 0.71% ownership decline).
- Forager also sold 8,827 shares on Jan. 5 at $40.09 and 7,968 shares on Jan. 2 at $38.93, signaling a string of disposals in the first week of January.
- Regional Management recently beat quarterly EPS estimates, pays a $0.30 quarterly dividend (about a 3.1% yield), has a market cap near $379M and carries a consensus analyst rating of "Reduce" with a $30 target.
Regional Management Corp. (NYSE:RM - Get Free Report) major shareholder Fund L.P. Forager sold 7,576 shares of the business's stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $38.88, for a total value of $294,554.88. Following the completion of the transaction, the insider directly owned 1,060,727 shares of the company's stock, valued at $41,241,065.76. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Fund L.P. Forager also recently made the following trade(s):
- On Monday, January 5th, Fund L.P. Forager sold 8,827 shares of Regional Management stock. The stock was sold at an average price of $40.09, for a total transaction of $353,874.43.
- On Friday, January 2nd, Fund L.P. Forager sold 7,968 shares of Regional Management stock. The shares were sold at an average price of $38.93, for a total transaction of $310,194.24.
Regional Management Price Performance
RM opened at $39.00 on Wednesday. The firm has a fifty day moving average price of $38.50 and a 200 day moving average price of $37.82. Regional Management Corp. has a 1 year low of $25.41 and a 1 year high of $46.00. The stock has a market cap of $378.68 million, a P/E ratio of 9.44 and a beta of 1.07.
Regional Management (NYSE:RM - Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The credit services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Regional Management had a net margin of 6.57% and a return on equity of 11.43%. The company had revenue of $165.49 million for the quarter, compared to analyst estimates of $162.84 million. Equities analysts expect that Regional Management Corp. will post 4.7 EPS for the current year.
Regional Management Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Tuesday, November 25th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 25th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.1%. Regional Management's dividend payout ratio (DPR) is 29.06%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new stake in Regional Management in the 3rd quarter worth about $39,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Regional Management by 17.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 70,086 shares of the credit services provider's stock valued at $2,731,000 after acquiring an additional 10,595 shares during the last quarter. Wexford Capital LP purchased a new position in shares of Regional Management in the third quarter valued at approximately $32,000. Public Employees Retirement System of Ohio boosted its stake in shares of Regional Management by 36.8% in the third quarter. Public Employees Retirement System of Ohio now owns 4,910 shares of the credit services provider's stock worth $191,000 after acquiring an additional 1,320 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Regional Management by 41.3% in the third quarter. Millennium Management LLC now owns 19,430 shares of the credit services provider's stock worth $757,000 after acquiring an additional 5,678 shares during the last quarter. 98.89% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
RM has been the subject of a number of analyst reports. Wall Street Zen raised Regional Management from a "buy" rating to a "strong-buy" rating in a report on Saturday. Weiss Ratings restated a "hold (c+)" rating on shares of Regional Management in a research report on Monday, December 29th. Finally, Zacks Research downgraded Regional Management from a "hold" rating to a "strong sell" rating in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $30.00.
Get Our Latest Research Report on Regional Management
Regional Management Company Profile
(
Get Free Report)
Regional Management Corp., headquartered in Wilmington, North Carolina, is a consumer finance company specializing in installment loan products for underbanked individuals. Since its founding in 1977, the company has developed a network of field-based branches alongside a digital platform to offer credit solutions in rural and small-town markets across the United States.
The company's core offerings include consumer installment loans for everyday purchases, auto refinancing and lease buyouts, as well as ancillary services such as insurance referrals.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
