Key Points
- Major shareholder Fund L.P. Forager sold 9,064 Regional Management shares at an average price of $32.19, generating $291,770.16. The sale reduced its position by 0.97% to 929,537 shares.
- Forager also sold 10,401 shares on September 17 and 9,857 shares on September 15, indicating multiple recent insider sales.
- Regional Management reported quarterly earnings of $0.85 per share, beating estimates, and maintains a $0.30 quarterly dividend, equivalent to a 3.7% yield. Analysts’ consensus rating is “Moderate Buy,” with a $43 target price versus the stock’s $32.14 opening price.
Regional Management Corp. (NYSE:RM - Get Free Report) major shareholder Fund L.P. Forager sold 9,064 shares of the company's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $32.19, for a total transaction of $291,770.16. Following the sale, the insider directly owned 929,537 shares of the company's stock, valued at $29,921,796.03. This represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Fund L.P. Forager also recently made the following trade(s):
- On Thursday, September 17th, Fund L.P. Forager sold 10,401 shares of Regional Management stock. The shares were sold at an average price of $32.22, for a total transaction of $335,120.22.
- On Tuesday, September 15th, Fund L.P. Forager sold 9,857 shares of Regional Management stock. The stock was sold at an average price of $32.26, for a total transaction of $317,986.82.
Regional Management Stock Performance
NYSE RM opened at $32.14 on Friday. The firm's 50 day simple moving average is $35.60 and its 200 day simple moving average is $35.82. The firm has a market capitalization of $296.66 million, a price-to-earnings ratio of 6.77 and a beta of 1.00. The company has a current ratio of 64.04, a quick ratio of 64.04 and a debt-to-equity ratio of 4.41. Regional Management Corp. has a 1 year low of $30.46 and a 1 year high of $46.00.
Regional Management (NYSE:RM - Get Free Report) last released its earnings results on Wednesday, July 29th. The credit services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.04. The firm had revenue of $168.01 million during the quarter, compared to analysts' expectations of $165.69 million. Regional Management had a return on equity of 12.49% and a net margin of 6.98%.
Regional Management Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Wednesday, August 19th. Regional Management's payout ratio is currently 25.26%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Regional Management in the 2nd quarter valued at $47,514,000. Basswood Capital Management L.L.C. bought a new position in Regional Management during the second quarter worth $35,244,000. LSV Asset Management lifted its holdings in Regional Management by 7.7% in the fourth quarter. LSV Asset Management now owns 338,832 shares of the credit services provider's stock valued at $13,130,000 after buying an additional 24,232 shares during the period. Tieton Capital Management LLC bought a new stake in Regional Management during the second quarter valued at $13,112,000. Finally, Sei Investments Co. boosted its position in Regional Management by 117.9% during the first quarter. Sei Investments Co. now owns 157,151 shares of the credit services provider's stock valued at $5,068,000 after acquiring an additional 85,040 shares during the last quarter. Institutional investors and hedge funds own 98.89% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Wall Street Zen downgraded shares of Regional Management from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Citigroup reiterated a "market outperform" rating on shares of Regional Management in a research report on Thursday, July 30th. Weiss Ratings lowered Regional Management from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, August 7th. Finally, Citizens Jmp decreased their price target on Regional Management from $45.00 to $43.00 and set a "market outperform" rating for the company in a research note on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.00.
Get Our Latest Research Report on RM
About Regional Management
(
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Regional Management Corp. is a specialty consumer finance company that provides credit products to customers who may have limited access to traditional bank financing. The company operates primarily through its Regional Finance branch network and focuses on serving non-prime consumers.
Its principal products include small and large installment loans, generally used for personal, household and other consumer purposes. Regional Management may also offer optional credit-related insurance and ancillary products in connection with its loans, subject to applicable laws and regulations.
Founded in 1987 and headquartered in Greer, South Carolina, the company serves customers across a network of branches concentrated in the southeastern and southwestern United States.
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