Fund L.P. Forager Sells 9,857 Shares of Regional Management (NYSE:RM) Stock

Regional Management Corp. (NYSE:RM) major shareholder Fund L.P. Forager sold 9,857 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $32.26, for a total value of $317,986.82. Following the completion of the transaction, the insider directly owned 938,601 shares of the company’s stock, valued at approximately $30,279,268.26. This trade represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock 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 Wednesday, September 16th, Fund L.P. Forager sold 9,064 shares of Regional Management stock. The shares were sold at an average price of $32.19, for a total value of $291,770.16.

Regional Management Stock Performance

RM stock traded up $0.02 during trading on Thursday, hitting $32.14. 44,783 shares of the company traded hands, compared to its average volume of 70,101. Regional Management Corp. has a 1 year low of $30.46 and a 1 year high of $46.00. The company has a market cap of $296.66 million, a PE ratio of 6.77 and a beta of 1.00. The stock’s 50-day simple moving average is $35.60 and its 200 day simple moving average is $35.82. 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 released 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. The business had revenue of $168.01 million for the quarter, compared to analyst estimates 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 company also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $1.20 dividend on an annualized basis and a yield of 3.7%. Regional Management’s dividend payout ratio is 25.26%.

Analyst Ratings Changes

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

Institutional Trading of Regional Management

Several institutional investors have recently modified their holdings of the stock. Legal & General Group Plc purchased a new position in shares of Regional Management during the second quarter worth about $33,000. Algert Global LLC acquired a new position in Regional Management during the second quarter worth approximately $209,000. R Squared Ltd purchased a new stake in Regional Management in the first quarter valued at approximately $212,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Regional Management in the second quarter valued at approximately $266,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of 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.

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.