Regional Management (NYSE:RM) Major Shareholder Sells $291,770.16 in Stock

Regional Management Corp. (NYSE:RM) major shareholder Fund L.P. Forager sold 9,064 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $32.19, for a total value of $291,770.16. Following the sale, the insider owned 929,537 shares of the company’s stock, valued at approximately $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. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases 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 stock was sold at an average price of $32.22, for a total value of $335,120.22.
• On Tuesday, September 15th, Fund L.P. Forager sold 9,857 shares of Regional Management stock. The shares were sold at an average price of $32.26, for a total value of $317,986.82.

Regional Management Stock Up 0.1%

Regional Management stock traded up $0.02 during trading hours on Thursday, reaching $32.14. The stock had a trading volume of 44,783 shares, compared to its average volume of 70,101. The company has a market cap of $296.66 million, a price-to-earnings ratio of 6.77 and a beta of 1.00. The business’s 50 day moving average price is $35.60 and its 200-day moving average price is $35.82. Regional Management Corp. has a 52 week low of $30.46 and a 52 week high of $46.00. The company has a debt-to-equity ratio of 4.41, a current ratio of 64.04 and a quick ratio of 64.04.

Regional Management (NYSE:RM) last posted its quarterly earnings data on Wednesday, July 29th. The credit services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.81 by $0.04. Regional Management had a net margin of 6.98% and a return on equity of 12.49%. The firm had revenue of $168.01 million during the quarter, compared to analyst estimates of $165.69 million.

Regional Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.7%. Regional Management’s dividend payout ratio (DPR) is presently 25.26%.

Hedge Funds Weigh In On Regional Management

A number of institutional investors have recently modified their holdings of the stock. Legal & General Group Plc acquired a new position in shares of Regional Management in the 2nd quarter valued at about $33,000. Algert Global LLC acquired a new stake in Regional Management during the second quarter worth about $209,000. Susquehanna Fundamental Investments LLC purchased a new position in Regional Management during the second quarter valued at approximately $266,000. R Squared Ltd purchased a new position in Regional Management during the first quarter valued at approximately $212,000. Finally, Canada Pension Plan Investment Board acquired a new position in Regional Management in the second quarter valued at approximately $284,000. Hedge funds and other institutional investors own 98.89% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RM. Wall Street Zen lowered Regional Management from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Citigroup reaffirmed a “market outperform” rating on shares of Regional Management in a report on Thursday, July 30th. Citizens Jmp cut their target price on Regional Management from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 30th. Finally, Weiss Ratings cut Regional Management from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.00.

About Regional Management

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.