Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Regional Management Corp. (NYSE:RM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 33,123 shares of the credit services provider's stock, valued at approximately $1,365,000. Connor Clark & Lunn Investment Management Ltd. owned 0.36% of Regional Management at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in RM. BlackRock Inc. bought a new position in Regional Management during the 2nd quarter worth $47,514,000. Basswood Capital Management L.L.C. increased its position in shares of 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 purchasing an additional 4,491 shares during the period. LSV Asset Management raised its stake in 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 purchasing an additional 24,232 shares in the last quarter. Tieton Capital Management LLC acquired a new position in Regional Management in the second quarter valued at about $13,112,000. Finally, Renaissance Technologies LLC lifted its position in Regional Management by 15.8% during the fourth quarter. Renaissance Technologies LLC now owns 243,137 shares of the credit services provider's stock worth $9,422,000 after purchasing an additional 33,200 shares during the period. Institutional investors and hedge funds own 98.89% of the company's stock.
Insiders Place Their Bets
In related news, CEO Lakhbir S. Lamba purchased 3,500 shares of the stock in a transaction dated Wednesday, August 12th. The stock was bought at an average cost of $31.76 per share, for a total transaction of $111,160.00. Following the completion of the acquisition, the chief executive officer owned 55,734 shares of the company's stock, valued at approximately $1,770,111.84. This represents a 6.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Steven B. Barnette sold 3,274 shares of the stock in a transaction on 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 transaction, the chief accounting officer owned 13,472 shares of the company's stock, valued at $583,337.60. The trade was a 19.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 5,074 shares of company stock worth $216,028. Insiders own 10.90% of the company's stock.
Regional Management Stock Up 0.2%
Shares of NYSE RM opened at $32.62 on Monday. The company has a market cap of $300.95 million, a price-to-earnings ratio of 6.87 and a beta of 1.02. 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 $46.00. The stock has a 50-day moving average price of $37.85 and a two-hundred day moving average price of $35.93.
Regional Management (NYSE:RM - Get Free Report) last posted 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 company had revenue of $168.01 million for the quarter, compared to the consensus estimate of $165.69 million. Regional Management had a net margin of 6.98% and a return on equity of 12.49%.
Regional Management Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be given a $0.30 dividend. The ex-dividend date is 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 (DPR) is currently 25.26%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Regional Management from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Citizens Jmp cut their price target on shares of Regional Management from $45.00 to $43.00 and set a "market outperform" rating for the company in a report on Thursday, July 30th. Citigroup reiterated a "market outperform" rating on shares of Regional Management in a research report on Thursday, July 30th. Finally, Weiss Ratings cut shares of Regional Management from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.00.
Get Our Latest Stock Report on Regional Management
Regional Management Profile
(
Free Report)
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.
Further Reading
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