Wellington Management Group LLP Sells 40,129 Shares of Regional Management Corp. $RM

Key Points

• Wellington Management Group LLP has decreased its stake in Regional Management Corp. by 13.2%, selling 40,129 shares during the first quarter, now owning approximately 2.65% of the company.
• Regional Management recently reported quarterly earnings of $1.03 EPS, exceeding analyst expectations of $0.72, along with revenue of $157.44 million.
• The company will pay a quarterly dividend of $0.30 on September 10th, reflecting a 2.8% dividend yield for shareholders.

Wellington Management Group LLP reduced its position in shares of Regional Management Corp. (NYSE:RM - Free Report) by 13.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 263,386 shares of the credit services provider's stock after selling 40,129 shares during the period. Wellington Management Group LLP owned 2.65% of Regional Management worth $7,931,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in RM. US Bancorp DE bought a new position in shares of Regional Management during the first quarter valued at about $31,000. Tower Research Capital LLC TRC lifted its position in shares of Regional Management by 49.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,019 shares of the credit services provider's stock valued at $35,000 after purchasing an additional 339 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Regional Management by 16.2% during the fourth quarter. BNP Paribas Financial Markets now owns 2,162 shares of the credit services provider's stock valued at $73,000 after purchasing an additional 301 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Regional Management by 8.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,792 shares of the credit services provider's stock valued at $163,000 after purchasing an additional 390 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Regional Management by 3,899.2% during the first quarter. GAMMA Investing LLC now owns 5,119 shares of the credit services provider's stock valued at $170,000 after purchasing an additional 4,991 shares in the last quarter. 98.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Regional Management from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 3rd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.

Insider Activity

In other news, CEO Robert William Beck sold 10,000 shares of Regional Management stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $35.54, for a total value of $355,400.00. Following the completion of the transaction, the chief executive officer owned 79,673 shares in the company, valued at $2,831,578.42. This trade represents a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Fund L.P. Forager bought 12,754 shares of Regional Management stock in a transaction dated Tuesday, June 10th. The stock was acquired at an average price of $28.20 per share, with a total value of $359,662.80. Following the purchase, the insider directly owned 1,016,236 shares of the company's stock, valued at approximately $28,657,855.20. This represents a 1.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 36,082 shares of company stock valued at $1,022,745 in the last quarter. Corporate insiders own 10.50% of the company's stock.

Regional Management Stock Performance

RM stock traded up $0.57 during mid-day trading on Friday, hitting $43.84. The company had a trading volume of 41,849 shares, compared to its average volume of 51,989. The firm has a market cap of $429.58 million, a PE ratio of 12.63 and a beta of 1.22. The company has a debt-to-equity ratio of 4.14, a quick ratio of 45.13 and a current ratio of 45.13. The stock's fifty day moving average price is $34.28 and its two-hundred day moving average price is $31.57. Regional Management Corp. has a 12 month low of $25.41 and a 12 month high of $43.91.

Regional Management (NYSE:RM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The credit services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.31. The firm had revenue of $157.44 million during the quarter, compared to the consensus estimate of $155.22 million. Regional Management had a net margin of 5.68% and a return on equity of 10.91%. On average, analysts forecast that Regional Management Corp. will post 4.7 earnings per share for the current fiscal year.

Regional Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. Regional Management's dividend payout ratio (DPR) is presently 34.58%.

Regional Management Profile

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.