Regional Management Corp. (NYSE:RM) Major Shareholder Sells $701,466.85 in Stock

Regional Management Corp. (NYSE:RM) major shareholder Fund L.P. Forager sold 21,805 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $32.17, for a total transaction of $701,466.85. Following the transaction, the insider now owns 1,021,216 shares in the company, valued at approximately $32,852,518.72. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares 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 15th, Fund L.P. Forager sold 16,219 shares of Regional Management stock. The shares were sold at an average price of $34.21, for a total value of $554,851.99.
• 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 Wednesday, January 8th, Fund L.P. Forager sold 7,555 shares of Regional Management stock. The shares were 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 shares were 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 stock was sold at an average price of $33.50, for a total value of $177,550.00.

Regional Management Stock Performance

NYSE:RM opened at $35.73 on Friday. The company has a market cap of $363.04 million, a P/E ratio of 15.01 and a beta of 1.50. The company’s 50-day moving average price is $32.47 and its 200-day moving average price is $31.40. Regional Management Corp. has a twelve month low of $20.50 and a twelve month high of $36.80. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.36%. The ex-dividend date was Thursday, November 21st. Regional Management’s dividend payout ratio is currently 50.42%.

Analysts Set New Price Targets

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

Institutional Trading of Regional Management

A number of large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Regional Management in the third quarter valued at $105,000. JPMorgan Chase & Co. increased 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 valued at $138,000 after acquiring an additional 572 shares during the period. Summit Global Investments purchased a new stake in shares of Regional Management during the third quarter worth approximately $209,000. PDT Partners LLC acquired a new stake in shares of Regional Management in the 3rd quarter worth $213,000. Finally, Hancock Whitney Corp acquired a new stake in Regional Management in the second quarter valued at about $234,000. Hedge funds and other institutional investors own 98.89% of the company’s stock.

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.