Vanguard Group Inc. decreased its position in shares of Regional Management Corp (NYSE:RM) by 1.7% in the second quarter, Holdings Channel reports. The fund owned 595,456 shares of the credit services provider’s stock after selling 10,341 shares during the period. Vanguard Group Inc. owned 0.05% of Regional Management worth $15,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Regional Management by 6.7% during the second quarter. BlackRock Inc. now owns 1,005,116 shares of the credit services provider’s stock valued at $26,505,000 after buying an additional 63,350 shares during the last quarter. Panagora Asset Management Inc. increased its stake in Regional Management by 51.3% in the second quarter. Panagora Asset Management Inc. now owns 108,440 shares of the credit services provider’s stock valued at $2,860,000 after acquiring an additional 36,766 shares during the period. Municipal Employees Retirement System of Michigan bought a new stake in Regional Management in the second quarter valued at about $522,000. Tieton Capital Management LLC increased its stake in Regional Management by 5.2% in the second quarter. Tieton Capital Management LLC now owns 243,106 shares of the credit services provider’s stock valued at $6,411,000 after acquiring an additional 12,080 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Regional Management in the second quarter valued at about $276,000. 85.88% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Robert William Beck bought 5,000 shares of Regional Management stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $25.99 per share, for a total transaction of $129,950.00. Following the completion of the transaction, the chief financial officer now owns 13,875 shares of the company’s stock, valued at $360,611.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John D. Schachtel bought 4,000 shares of Regional Management stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $27.46 per share, for a total transaction of $109,840.00. Following the completion of the transaction, the chief operating officer now directly owns 26,378 shares of the company’s stock, valued at approximately $724,339.88. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 101,827 shares of company stock worth $2,723,614 and have sold 114,051 shares worth $3,032,569. 9.50% of the stock is currently owned by corporate insiders.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Regional Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. ValuEngine raised shares of Regional Management from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $32.40.
Shares of Regional Management stock opened at $29.00 on Monday. The company has a current ratio of 48.69, a quick ratio of 48.69 and a debt-to-equity ratio of 2.44. The stock has a market capitalization of $330.90 million, a price-to-earnings ratio of 9.15 and a beta of 0.93. Regional Management Corp has a 1-year low of $22.90 and a 1-year high of $30.45. The firm’s 50-day moving average price is $27.51 and its two-hundred day moving average price is $25.96.
Regional Management (NYSE:RM) last issued its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.05. The firm had revenue of $84.27 million for the quarter, compared to analysts’ expectations of $80.50 million. Regional Management had a net margin of 10.59% and a return on equity of 13.37%. As a group, equities research analysts predict that Regional Management Corp will post 3.43 EPS for the current year.
About Regional Management
Regional Management Corp., a diversified consumer finance company, provides various installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other traditional lenders. The company offers small and large installment loans; loans to finance the purchase of furniture, appliances, and other retail products; insurance products, including credit life, credit accident and health, credit property, vehicle single interest, and credit involuntary unemployment insurance; collateral protection insurance; and property insurance, as well as reinsurance products.
Further Reading: Basic Economics
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