Fund L.P. Forager Sells 10,401 Shares of Regional Management (NYSE:RM) Stock

Regional Management Corp. (NYSE:RM) major shareholder Fund L.P. Forager sold 10,401 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $32.22, for a total value of $335,120.22. Following the sale, the insider directly owned 919,136 shares in the company, valued at approximately $29,614,561.92. This trade represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 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 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.
• 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 Trading Down 2.2%

Regional Management stock opened at $31.39 on Friday. The company has a current ratio of 64.04, a quick ratio of 64.04 and a debt-to-equity ratio of 4.41. Regional Management Corp. has a 12 month low of $30.46 and a 12 month high of $45.73. The stock’s 50 day simple moving average is $35.36 and its two-hundred day simple moving average is $35.79. The firm has a market cap of $289.68 million, a PE ratio of 6.61 and a beta of 1.00.

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

Regional Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th were issued 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 yield of 3.8%. Regional Management’s payout ratio is presently 25.26%.

Institutional Investors Weigh In On Regional Management

Hedge funds have recently modified their holdings of the company. Legal & General Group Plc purchased a new position in Regional Management during the second quarter worth about $33,000. Algert Global LLC acquired a new stake in shares of Regional Management during the 2nd quarter worth approximately $209,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Regional Management during the 2nd quarter valued at approximately $266,000. R Squared Ltd purchased a new stake in shares of Regional Management during the 1st 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.

Wall Street Analyst Weigh In

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