PDT Partners LLC Purchases Shares of 24,998 Regional Management Corp. $RM

PDT Partners LLC purchased a new position in shares of Regional Management Corp. (NYSE:RM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,998 shares of the credit services provider’s stock, valued at approximately $1,030,000. PDT Partners LLC owned approximately 0.27% of Regional Management as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in RM. Russell Investments Group Ltd. boosted its stake in shares of Regional Management by 9.9% in the 4th quarter. Russell Investments Group Ltd. now owns 3,876 shares of the credit services provider’s stock valued at $150,000 after purchasing an additional 350 shares in the last quarter. Royal Bank of Canada lifted its stake in Regional Management by 2.4% in the first quarter. Royal Bank of Canada now owns 16,200 shares of the credit services provider’s stock worth $487,000 after purchasing an additional 375 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Regional Management by 9.7% in the second quarter. JPMorgan Chase & Co. now owns 4,824 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 425 shares during the last quarter. First Trust Advisors LP boosted its position in Regional Management by 1.6% during the fourth quarter. First Trust Advisors LP now owns 28,006 shares of the credit services provider’s stock valued at $1,085,000 after buying an additional 436 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in Regional Management by 2.8% during the first quarter. Janney Montgomery Scott LLC now owns 17,464 shares of the credit services provider’s stock valued at $563,000 after buying an additional 473 shares during the period. 98.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Regional Management

In other news, CAO Steven B. Barnette sold 3,274 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $43.30, for a total value of $141,764.20. Following the completion of the sale, the chief accounting officer directly owned 13,472 shares of the company’s stock, valued at approximately $583,337.60. This trade represents a 19.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lakhbir S. Lamba bought 6,500 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was bought at an average cost of $31.59 per share, with a total value of $205,335.00. Following the completion of the transaction, the chief executive officer owned 52,234 shares in the company, valued at approximately $1,650,072.06. This trade represents a 14.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 5,074 shares of company stock valued at $216,028 over the last 90 days. Company insiders own 10.90% of the company’s stock.

Regional Management Trading Down 2.4%

NYSE RM opened at $32.54 on Thursday. The stock has a market cap of $300.34 million, a P/E ratio of 6.85 and a beta of 1.02. Regional Management Corp. has a fifty-two week low of $30.46 and a fifty-two week high of $46.00. The stock has a 50 day simple moving average of $38.04 and a two-hundred day simple moving average of $35.96. The company has a debt-to-equity ratio of 4.41, a quick ratio of 64.04 and a current ratio of 64.04.

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

Regional Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Regional Management’s payout ratio is presently 25.26%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RM shares. Wall Street Zen downgraded Regional Management from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Citizens Jmp reduced their price target 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. Weiss Ratings cut Regional Management from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Regional Management in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

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.