Renaissance Technologies LLC Decreases Holdings in Regional Management Corp. $RM

Renaissance Technologies LLC lowered its holdings in Regional Management Corp. (NYSE:RM) by 8.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 223,233 shares of the credit services provider’s stock after selling 19,904 shares during the quarter. Renaissance Technologies LLC owned about 2.42% of Regional Management worth $7,199,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Sei Investments Co. raised its position in shares of 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. Goldman Sachs Group Inc. boosted its holdings in Regional Management by 45.5% in the first quarter. Goldman Sachs Group Inc. now owns 194,374 shares of the credit services provider’s stock valued at $5,853,000 after purchasing an additional 60,744 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Regional Management by 21.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 182,666 shares of the credit services provider’s stock valued at $7,078,000 after purchasing an additional 32,075 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Regional Management by 65.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 80,425 shares of the credit services provider’s stock valued at $2,349,000 after purchasing an additional 31,761 shares during the last quarter. Finally, LSV Asset Management raised its holdings in Regional Management by 7.7% during the fourth quarter. LSV Asset Management now owns 338,832 shares of the credit services provider’s stock worth $13,130,000 after purchasing an additional 24,232 shares in the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.

Regional Management Stock Down 2.2%

Shares of NYSE:RM opened at $33.97 on Wednesday. Regional Management Corp. has a 1-year low of $30.46 and a 1-year high of $46.00. The company has a debt-to-equity ratio of 4.41, a current ratio of 64.04 and a quick ratio of 59.88. The stock has a market cap of $313.52 million, a P/E ratio of 7.15 and a beta of 1.02. The firm has a fifty day moving average price of $39.07 and a 200 day moving average price of $36.44.

Regional Management (NYSE:RM) last posted its quarterly earnings data 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. Regional Management had a net margin of 6.98% and a return on equity of 12.49%. The company had revenue of $168.01 million for the quarter, compared to analyst estimates of $165.69 million.

Regional Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, August 19th. Regional Management’s payout ratio is 25.26%.

Insider Activity at Regional Management

In other Regional Management news, Director Sandra K. Johnson sold 1,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $36.00, for a total transaction of $36,000.00. Following the completion of the sale, the director directly owned 21,933 shares of the company’s stock, valued at approximately $789,588. This trade represents a 4.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Steven B. Barnette sold 3,274 shares of Regional Management stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $43.30, for a total value of $141,764.20. Following the completion of the transaction, the chief accounting officer owned 13,472 shares in the company, valued at $583,337.60. This trade represents a 19.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,874 shares of company stock worth $350,208 in the last quarter. Company insiders own 10.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Regional Management from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings raised shares of Regional Management from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. Citizens Jmp reduced their price target on shares of Regional Management from $45.00 to $43.00 and set a “market outperform” rating for the company in a research report on Thursday, July 30th. Finally, Citigroup restated a “market outperform” rating on shares of Regional Management in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Regional Management Profile

Regional Management Corp., headquartered in Wilmington, North Carolina, is a consumer finance company specializing in installment loan products for underbanked individuals. Since its founding in 1977, the company has developed a network of field-based branches alongside a digital platform to offer credit solutions in rural and small-town markets across the United States.

The company’s core offerings include consumer installment loans for everyday purchases, auto refinancing and lease buyouts, as well as ancillary services such as insurance referrals.