Regional Management Corp. (RM) Downgraded by Zacks Investment Research
Regional Management Corp. (NYSE:RM) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Regional Management Corp. is a diversified specialty consumer finance company engaged in providing loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other traditional lenders. It offers Small Installment Loans, Large Installment Loans, Automobile Purchase Loans, Furniture and Appliance Purchase Loans and Insurance Products. The Company has operations primarily in South Carolina, Texas, North Carolina, Tennessee and Alabama. Regional Management Corp. is headquartered in Greenville, South Carolina. “
RM has been the subject of several other research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Regional Management Corp. from $17.50 to $19.00 and gave the stock a “market perform” rating in a research note on Thursday, July 28th. BMO Capital Markets reiterated a “buy” rating and set a $26.00 price objective on shares of Regional Management Corp. in a research note on Wednesday, July 27th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $21.25.
Shares of Regional Management Corp. (NYSE:RM) opened at 21.66 on Wednesday. The stock has a market cap of $247.27 million, a PE ratio of 11.09 and a beta of 1.59. Regional Management Corp. has a 12-month low of $11.77 and a 12-month high of $22.44. The stock’s 50 day moving average is $20.92 and its 200-day moving average is $17.75.
Regional Management Corp. (NYSE:RM) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.40 by $0.13. The firm earned $57.30 million during the quarter, compared to analyst estimates of $58.32 million. Regional Management Corp. had a net margin of 11.06% and a return on equity of 12.23%. Equities analysts expect that Regional Management Corp. will post $2.02 EPS for the current year.
In other Regional Management Corp. news, major shareholder Glen Capital Partners Focus Fu sold 125,656 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $18.87, for a total transaction of $2,371,128.72. Following the transaction, the insider now owns 1,217,038 shares in the company, valued at approximately $22,965,507.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in RM. Nationwide Fund Advisors increased its stake in Regional Management Corp. by 9.6% in the second quarter. Nationwide Fund Advisors now owns 7,279 shares of the company’s stock valued at $107,000 after buying an additional 636 shares during the period. A.R.T. Advisors LLC acquired a new stake in Regional Management Corp. during the second quarter valued at approximately $182,000. Sippican Capital Advisors acquired a new stake in Regional Management Corp. during the second quarter valued at approximately $220,000. Acadian Asset Management LLC increased its stake in Regional Management Corp. by 369.5% in the second quarter. Acadian Asset Management LLC now owns 15,269 shares of the company’s stock valued at $224,000 after buying an additional 12,017 shares during the period. Finally, Algert Global LLC acquired a new stake in Regional Management Corp. during the first quarter valued at approximately $396,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.
Regional Management Corp. Company Profile
Regional Management Corp. is a diversified specialty consumer finance company. The Company provides a range of loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other traditional lenders. Its products include small loans, large loans, automobile loans, retail loans and optional credit insurance products.
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