55,048 Shares in Regional Management Corp. $RM Purchased by Man Group plc

Key Points

• Man Group plc acquired 55,048 shares of Regional Management during the second quarter, valued at approximately $2.27 million and representing about 0.60% of the company. Institutional investors and hedge funds collectively own 98.89% of RM.
• Regional Management reported quarterly earnings of $0.85 per share, exceeding the $0.81 analyst consensus, while revenue of $168.01 million also topped estimates. The company declared a quarterly dividend of $0.30 per share, equivalent to a 3.8% yield.
• RM shares opened at $31.77, near their 12-month low of $30.46 and below the $43.00 average analyst price target. Ratings were mixed, with two Buy and two Hold recommendations, resulting in a “Moderate Buy” consensus.

Man Group plc purchased a new position in Regional Management Corp. (NYSE:RM - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 55,048 shares of the credit services provider's stock, valued at approximately $2,268,000. Man Group plc owned approximately 0.60% of Regional Management at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Regional Management in the 2nd quarter worth approximately $47,514,000. Basswood Capital Management L.L.C. grew its position in Regional Management by 0.4% in the second quarter. Basswood Capital Management L.L.C. now owns 1,024,310 shares of the credit services provider's stock worth $29,920,000 after buying an additional 4,491 shares during the last quarter. LSV Asset Management increased its holdings in shares of Regional Management by 7.7% in the fourth quarter. LSV Asset Management now owns 338,832 shares of the credit services provider's stock valued at $13,130,000 after buying an additional 24,232 shares in the last quarter. Tieton Capital Management LLC bought a new position in shares of Regional Management in the second quarter valued at $13,112,000. Finally, Renaissance Technologies LLC lifted its position in shares of Regional Management by 15.8% during the 4th quarter. Renaissance Technologies LLC now owns 243,137 shares of the credit services provider's stock valued at $9,422,000 after acquiring an additional 33,200 shares during the last quarter. 98.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Lakhbir S. Lamba purchased 6,500 shares of Regional Management stock in a transaction dated Tuesday, August 11th. The stock was acquired 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 directly owned 52,234 shares of the company's stock, valued at $1,650,072.06. This trade represents a 14.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Steven B. Barnette sold 3,274 shares of the firm's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $43.30, for a total transaction of $141,764.20. Following the sale, the chief accounting officer owned 13,472 shares of the company's stock, valued at approximately $583,337.60. This represents a 19.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 5,074 shares of company stock worth $216,028. Company insiders own 10.90% of the company's stock.

Regional Management Price Performance

Shares of NYSE:RM opened at $31.77 on Wednesday. The company's fifty day moving average is $37.60 and its two-hundred day moving average is $35.90. The company has a market cap of $293.24 million, a P/E ratio of 6.69 and a beta of 1.00. Regional Management Corp. has a 12-month low of $30.46 and a 12-month high of $46.00. The company has a quick ratio of 64.04, a current ratio of 64.04 and a debt-to-equity ratio of 4.41.

Regional Management (NYSE:RM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The credit services provider reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.04. The business had revenue of $168.01 million for the quarter, compared to the consensus estimate of $165.69 million. Regional Management had a return on equity of 12.49% and a net margin of 6.98%.

Regional Management Announces Dividend

The firm 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. The ex-dividend date is Wednesday, August 19th. This represents a $1.20 dividend on an annualized basis and a yield of 3.8%. Regional Management's dividend payout ratio (DPR) is presently 25.26%.

Analyst Ratings Changes

RM has been the topic of a number of recent research reports. Weiss Ratings cut Regional Management from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, August 7th. Citigroup reaffirmed a "market outperform" rating on shares of Regional Management in a report on Thursday, July 30th. Wall Street Zen cut Regional Management from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Finally, Citizens Jmp cut their price objective on Regional Management from $45.00 to $43.00 and set a "market outperform" rating on the stock in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.

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