Fund L.P. Forager Sells 597 Shares of Regional Management Corp. (NYSE:RM) Stock

Regional Management Corp. (NYSE:RM) major shareholder Fund L.P. Forager sold 597 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $32.23, for a total value of $19,241.31. Following the completion of the transaction, the insider now directly owns 1,043,021 shares in the company, valued at $33,616,566.83. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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, January 8th, Fund L.P. Forager sold 7,555 shares of Regional Management stock. The stock was sold at an average price of $32.80, for a total value of $247,804.00.
• On Monday, January 6th, Fund L.P. Forager sold 6,265 shares of Regional Management stock. The stock was sold at an average price of $33.46, for a total transaction of $209,626.90.
• On Thursday, January 2nd, Fund L.P. Forager sold 5,300 shares of Regional Management stock. The shares were sold at an average price of $33.50, for a total transaction of $177,550.00.

Regional Management Stock Down 3.8 %

Shares of NYSE:RM traded down $1.26 during trading on Friday, reaching $31.53. 38,554 shares of the stock were exchanged, compared to its average volume of 44,142. The stock has a fifty day moving average of $32.07 and a two-hundred day moving average of $31.14. Regional Management Corp. has a 1-year low of $20.50 and a 1-year high of $35.24. The company has a debt-to-equity ratio of 3.94, a current ratio of 44.42 and a quick ratio of 44.42. The firm has a market cap of $320.44 million, a price-to-earnings ratio of 13.25 and a beta of 1.50.

Regional Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Thursday, November 21st. Regional Management’s payout ratio is presently 50.42%.

Institutional Investors Weigh In On Regional Management

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in shares of Regional Management in the third quarter valued at about $105,000. JPMorgan Chase & Co. grew its position in Regional Management by 15.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,233 shares of the credit services provider’s stock worth $138,000 after purchasing an additional 572 shares in the last quarter. Summit Global Investments purchased a new stake in Regional Management in the 3rd quarter valued at about $209,000. PDT Partners LLC bought a new position in shares of Regional Management during the 3rd quarter worth approximately $213,000. Finally, Hancock Whitney Corp bought a new position in shares of Regional Management during the 2nd quarter worth approximately $234,000. Institutional investors and hedge funds own 98.89% of the company’s stock.

Analysts Set New Price Targets

Separately, Stephens initiated coverage on shares of Regional Management in a report on Wednesday, November 13th. They set an “overweight” rating and a $38.00 price objective on the 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.