Fund L.P. Forager Buys 12,754 Shares of Regional Management Corp. (NYSE:RM) Stock

Regional Management Corp. (NYSE:RM) major shareholder Fund L.P. Forager acquired 12,754 shares of Regional Management stock in a transaction dated Tuesday, June 10th. The shares were acquired at an average price of $28.20 per share, with a total value of $359,662.80. Following the completion of the purchase, the insider now owns 1,016,236 shares in the company, valued at approximately $28,657,855.20. The trade was a 1.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, June 11th, Fund L.P. Forager acquired 24 shares of Regional Management stock. The shares were acquired at an average price of $29.05 per share, with a total value of $697.20.
• On Monday, June 9th, Fund L.P. Forager acquired 11,058 shares of Regional Management stock. The shares were acquired at an average price of $27.73 per share, with a total value of $306,638.34.

Regional Management Stock Down 2.9%

Shares of RM opened at $28.16 on Friday. Regional Management Corp. has a 12 month low of $25.41 and a 12 month high of $37.52. The firm’s 50 day moving average is $29.23 and its 200-day moving average is $31.80. The stock has a market capitalization of $279.38 million, a PE ratio of 6.77 and a beta of 1.17. The company has a current ratio of 44.42, a quick ratio of 44.42 and a debt-to-equity ratio of 3.94.

Regional Management (NYSE:RM) last posted its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.03. The business had revenue of $152.97 million for the quarter, compared to analyst estimates of $153.59 million. Regional Management had a net margin of 7.01% and a return on equity of 13.20%. Equities research analysts forecast that Regional Management Corp. will post 4.7 EPS for the current year.

Regional Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 21st were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $1.20 dividend on an annualized basis and a yield of 4.26%. Regional Management’s dividend payout ratio is currently 36.36%.

Wall Street Analyst Weigh In

RM has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reduced their price objective on shares of Regional Management from $33.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, May 2nd. Wall Street Zen cut shares of Regional Management from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 4th.

Hedge Funds Weigh In On Regional Management

A number of hedge funds have recently modified their holdings of the business. US Bancorp DE bought a new position in Regional Management during the first quarter worth $31,000. Tower Research Capital LLC TRC raised its stake in 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 worth $35,000 after buying an additional 339 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Regional Management by 16.2% in 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. SG Americas Securities LLC increased its stake in Regional Management by 38.0% in the fourth quarter. SG Americas Securities LLC now owns 4,425 shares of the credit services provider’s stock valued at $150,000 after purchasing an additional 1,218 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Regional Management by 8.9% in 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. Institutional investors and hedge funds own 98.89% of the company’s stock.

Regional Management Company 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.