Regional Management (NYSE:RM) Major Shareholder Fund L.P. Forager Sells 9,064 Shares

Key Points

• Major shareholder Fund L.P. Forager sold 9,064 Regional Management shares at an average price of $32.19, reducing its stake by 0.97% to 929,537 shares. The fund also sold additional shares in transactions on September 15 and 17.
• Regional Management shares traded near $32.14, close to the company’s one-year low of $30.46 and below its 50-day and 200-day moving averages. The stock has a $296.66 million market capitalization and a 3.7% dividend yield.
• The company exceeded quarterly earnings expectations, reporting $0.85 in adjusted EPS versus an $0.81 estimate and revenue of $168.01 million. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $43.00.

Regional Management Corp. (NYSE:RM - Get Free Report) major shareholder Fund L.P. Forager sold 9,064 shares of the firm's stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $32.19, for a total transaction of $291,770.16. Following the completion of the transaction, the insider directly owned 929,537 shares of the company's stock, valued at approximately $29,921,796.03. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Fund L.P. Forager also recently made the following trade(s):

• On Thursday, September 17th, Fund L.P. Forager sold 10,401 shares of Regional Management stock. The shares were sold at an average price of $32.22, for a total transaction of $335,120.22.
• On Tuesday, September 15th, Fund L.P. Forager sold 9,857 shares of Regional Management stock. The stock was sold at an average price of $32.26, for a total transaction of $317,986.82.

Regional Management Price Performance

Shares of Regional Management stock traded up $0.02 during trading hours on Thursday, reaching $32.14. The company's stock had a trading volume of 44,783 shares, compared to its average volume of 70,101. The firm has a 50 day moving average price of $35.60 and a 200-day moving average price of $35.82. The company has a debt-to-equity ratio of 4.41, a current ratio of 64.04 and a quick ratio of 64.04. The stock has a market cap of $296.66 million, a P/E ratio of 6.77 and a beta of 1.00. Regional Management Corp. has a one year low of $30.46 and a one year high of $46.00.

Regional Management (NYSE:RM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The credit services provider reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.04. The firm had revenue of $168.01 million during 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 disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, August 19th. Regional Management's dividend payout ratio (DPR) is presently 25.26%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Regional Management

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Regional Management in the second quarter worth approximately $47,514,000. Basswood Capital Management L.L.C. purchased a new position in shares of Regional Management during the second quarter valued at $35,244,000. LSV Asset Management raised 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 acquiring an additional 24,232 shares in the last quarter. Tieton Capital Management LLC purchased a new stake in Regional Management in the second quarter worth about $13,112,000. Finally, Sei Investments Co. grew its holdings in Regional Management by 117.9% during the 1st quarter. Sei Investments Co. now owns 157,151 shares of the credit services provider's stock worth $5,068,000 after acquiring an additional 85,040 shares in the last quarter. 98.89% of the stock is owned by hedge funds and other institutional investors.

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.

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