Regional Management (NYSE:RM) Major Shareholder Fund L.P. Forager Sells 7,968 Shares

Regional Management Corp. (NYSE:RM) major shareholder Fund L.P. Forager sold 7,968 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $38.93, for a total transaction of $310,194.24. Following the completion of the sale, the insider owned 1,077,130 shares in the company, valued at $41,932,670.90. This represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Fund L.P. Forager also recently made the following trade(s):

• On Tuesday, January 6th, Fund L.P. Forager sold 7,576 shares of Regional Management stock. The shares were sold at an average price of $38.88, for a total transaction of $294,554.88.
• 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.

Regional Management Price Performance

Shares of NYSE RM traded down $0.85 during midday trading on Tuesday, reaching $39.00. 40,933 shares of the stock were exchanged, compared to its average volume of 53,785. Regional Management Corp. has a 12 month low of $25.41 and a 12 month high of $46.00. The company has a market capitalization of $378.68 million, a price-to-earnings ratio of 9.44 and a beta of 1.07. The business has a 50-day simple moving average of $38.50 and a two-hundred day simple moving average of $37.82.

Regional Management (NYSE:RM) last released its quarterly earnings data on Wednesday, November 5th. The credit services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $165.49 million during the quarter, compared to analysts’ expectations of $162.84 million. Regional Management had a net margin of 6.57% and a return on equity of 11.43%. Equities research analysts expect that Regional Management Corp. will post 4.7 earnings per share for the current fiscal year.

Regional Management Dividend Announcement

The firm also recently declared 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 of this dividend 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 currently 29.06%.

Hedge Funds Weigh In On Regional Management

A number of large investors have recently bought and sold shares of RM. Advisory Services Network LLC bought a new position in shares of Regional Management during the 3rd quarter worth approximately $39,000. Jacobs Levy Equity Management Inc. boosted its holdings in 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 worth $2,731,000 after purchasing an additional 10,595 shares during the last quarter. Wexford Capital LP bought a new position in Regional Management in the third quarter valued at $32,000. Public Employees Retirement System of Ohio increased its stake in Regional Management by 36.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,910 shares of the credit services provider’s stock valued at $191,000 after buying an additional 1,320 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Regional Management by 41.3% in the 3rd quarter. Millennium Management LLC now owns 19,430 shares of the credit services provider’s stock valued at $757,000 after buying an additional 5,678 shares during the last quarter. Institutional investors and hedge funds own 98.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wall Street Zen raised Regional Management from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Research cut shares of Regional Management from a “hold” rating to a “strong sell” rating in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Regional Management in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Regional Management has an average rating of “Reduce” and an average target price of $30.00.

About Regional Management

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.