Regional Management (NYSE:RM) Major Shareholder Sells $317,986.82 in Stock

Key Points

• Major shareholder Fund L.P. Forager sold 9,857 Regional Management shares for approximately $318,000 at an average price of $32.26, reducing its stake by 1.04% to 938,601 shares. The fund also sold additional shares in two other recent transactions.
• Regional Management shares rose 0.1% to $32.14, while the company reported quarterly EPS of $0.85, beating estimates by $0.04, and revenue of $168.01 million.
• The company paid a quarterly dividend of $0.30 per share, equivalent to an annualized $1.20 dividend and a 3.7% yield. Analysts maintain a “Moderate Buy” consensus rating with a $43.00 target price.

Regional Management Corp. (NYSE:RM - Get Free Report) major shareholder Fund L.P. Forager sold 9,857 shares of Regional Management stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $32.26, for a total transaction of $317,986.82. Following the transaction, the insider directly owned 938,601 shares of the company's stock, valued at $30,279,268.26. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company's stock 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 value of $335,120.22.
• On Wednesday, September 16th, Fund L.P. Forager sold 9,064 shares of Regional Management stock. The shares were sold at an average price of $32.19, for a total transaction of $291,770.16.

Regional Management Stock Up 0.1%

Shares of RM traded up $0.02 during mid-day trading on Thursday, hitting $32.14. The company's stock had a trading volume of 44,783 shares, compared to its average volume of 70,101. The company's 50-day moving average is $35.60 and its 200-day moving average is $35.82. Regional Management Corp. has a 52-week low of $30.46 and a 52-week high of $46.00. The firm has a market capitalization of $296.66 million, a price-to-earnings ratio of 6.77 and a beta of 1.00. 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 (NYSE:RM - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The credit services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.04. The firm 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th were issued a $0.30 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.7%. Regional Management's dividend payout ratio (DPR) is currently 25.26%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Regional Management

Several hedge funds and other institutional investors have recently bought and sold shares of RM. BlackRock Inc. purchased a new position in Regional Management during the 2nd quarter worth approximately $47,514,000. Basswood Capital Management L.L.C. purchased a new stake in shares of Regional Management in the 2nd quarter valued at $35,244,000. LSV Asset Management increased its stake 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 worth $13,130,000 after acquiring an additional 24,232 shares during the period. Tieton Capital Management LLC purchased a new position in shares of Regional Management during the second quarter worth $13,112,000. Finally, Sei Investments Co. raised its holdings in shares of Regional Management by 117.9% during the first quarter. Sei Investments Co. now owns 157,151 shares of the credit services provider's stock worth $5,068,000 after purchasing an additional 85,040 shares during the last quarter. Institutional investors and hedge funds own 98.89% of the company's stock.

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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