Fund L.P. Forager Acquires 12,754 Shares of Regional Management Corp. (NYSE:RM) Stock

Regional Management Corp. (NYSE:RM) major shareholder Fund L.P. Forager bought 12,754 shares of Regional Management stock in a transaction on Tuesday, June 10th. The stock was acquired at an average price of $28.20 per share, for a total transaction of $359,662.80. Following the transaction, the insider now directly owns 1,016,236 shares of the company’s stock, valued at approximately $28,657,855.20. This trade represents a 1.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% 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 Wednesday, June 11th, Fund L.P. Forager bought 24 shares of Regional Management stock. The stock was acquired at an average price of $29.05 per share, for a total transaction of $697.20.
• On Monday, June 9th, Fund L.P. Forager acquired 11,058 shares of Regional Management stock. The stock was purchased at an average price of $27.73 per share, for a total transaction of $306,638.34.

Regional Management Price Performance

Shares of NYSE RM opened at $28.99 on Friday. The stock’s 50-day moving average is $29.23 and its two-hundred day moving average is $31.82. The company has a debt-to-equity ratio of 3.94, a current ratio of 44.42 and a quick ratio of 44.42. Regional Management Corp. has a 1-year low of $25.41 and a 1-year high of $37.52. The company has a market cap of $287.61 million, a price-to-earnings ratio of 6.97 and a beta of 1.17.

Regional Management (NYSE:RM) last issued its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. Regional Management had a return on equity of 13.20% and a net margin of 7.01%. The company had revenue of $152.97 million for the quarter, compared to the consensus estimate of $153.59 million. Analysts forecast that Regional Management Corp. will post 4.7 EPS for the current fiscal year.

Regional Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 21st were issued a $0.30 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.14%. Regional Management’s payout ratio is currently 36.36%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. US Bancorp DE purchased a new position in shares of Regional Management in the 1st quarter valued at about $31,000. Tower Research Capital LLC TRC increased its holdings in shares of Regional Management by 49.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,019 shares of the credit services provider’s stock valued at $35,000 after acquiring an additional 339 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Regional Management by 16.2% in the 4th quarter. BNP Paribas Financial Markets now owns 2,162 shares of the credit services provider’s stock valued at $73,000 after acquiring an additional 301 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Regional Management by 38.0% in the 4th quarter. SG Americas Securities LLC now owns 4,425 shares of the credit services provider’s stock valued at $150,000 after acquiring an additional 1,218 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Regional Management by 8.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,792 shares of the credit services provider’s stock valued at $163,000 after acquiring an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.

Analyst Upgrades and Downgrades

RM has been the topic of several research analyst reports. Keefe, Bruyette & Woods cut their price objective on Regional Management from $33.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday, May 2nd. Wall Street Zen downgraded Regional Management from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 4th.

About Regional Management

Regional Management Corp., a diversified consumer finance company, provides various installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders in the United States. It offers small and large installment loans; and retail loans to finance the purchase of furniture, appliances, and other retail products.