Insider Selling: Regional Management Corp. (NYSE:RM) Major Shareholder Sells 7,555 Shares of Stock

Regional Management Corp. (NYSE:RM) major shareholder Fund L.P. Forager sold 7,555 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $32.80, for a total transaction of $247,804.00. Following the completion of the transaction, the insider now owns 1,043,618 shares in the company, valued at approximately $34,230,670.40. This represents a 0.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, January 10th, Fund L.P. Forager sold 597 shares of Regional Management stock. The stock was sold at an average price of $32.23, for a total transaction of $19,241.31.
• On Monday, January 6th, Fund L.P. Forager sold 6,265 shares of Regional Management stock. The shares were sold at an average price of $33.46, for a total value of $209,626.90.
• On Thursday, January 2nd, Fund L.P. Forager sold 5,300 shares of Regional Management stock. The stock was sold at an average price of $33.50, for a total value of $177,550.00.

Regional Management Trading Down 3.8 %

Shares of RM stock opened at $31.53 on Friday. 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 Corp. has a 12-month low of $20.50 and a 12-month high of $35.24. The stock has a market capitalization of $320.44 million, a P/E ratio of 13.25 and a beta of 1.50. The firm’s 50 day moving average is $32.07 and its 200 day moving average is $31.14.

Regional Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were paid a $0.30 dividend. The ex-dividend date was Thursday, November 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.81%. Regional Management’s dividend payout ratio (DPR) is currently 50.42%.

Institutional Trading of Regional Management

A number of hedge funds have recently bought and sold shares of RM. American Century Companies Inc. boosted its position in Regional Management by 18.5% in the second quarter. American Century Companies Inc. now owns 106,773 shares of the credit services provider’s stock worth $3,069,000 after purchasing an additional 16,683 shares during the last quarter. Waterfall Asset Management LLC bought a new position in shares of Regional Management in the 2nd quarter worth approximately $632,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Regional Management by 50.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,416 shares of the credit services provider’s stock worth $243,000 after buying an additional 2,497 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Regional Management by 3.4% in the third quarter. Geode Capital Management LLC now owns 191,823 shares of the credit services provider’s stock worth $6,276,000 after buying an additional 6,288 shares during the last quarter. Finally, Barclays PLC grew its position in Regional Management by 73.4% during the third quarter. Barclays PLC now owns 23,416 shares of the credit services provider’s stock valued at $766,000 after buying an additional 9,910 shares during the period. Hedge funds and other institutional investors own 98.89% of the company’s stock.

Wall Street Analyst Weigh In

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

About Regional Management

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.