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

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 stock was sold at an average price of $32.23, for a total value of $19,241.31. Following the sale, the insider now owns 1,043,021 shares in the company, valued at $33,616,566.83. The trade was a 0.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 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 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 transaction 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 value of $177,550.00.

Regional Management Stock Down 3.8 %

RM stock opened at $31.53 on Friday. The company has a market capitalization of $320.44 million, a P/E ratio of 13.25 and a beta of 1.50. Regional Management Corp. has a 12 month low of $20.50 and a 12 month high of $35.24. The firm’s fifty day simple moving average is $32.13 and its 200-day simple moving average is $31.20. The company has a debt-to-equity ratio of 3.94, a current ratio of 44.42 and a quick ratio of 44.42.

Regional Management Announces Dividend

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Regional Management

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Regional Management during the third quarter valued at approximately $105,000. JPMorgan Chase & Co. increased its holdings in shares of Regional Management by 15.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,233 shares of the credit services provider’s stock valued at $138,000 after purchasing an additional 572 shares in the last quarter. Summit Global Investments purchased a new stake in Regional Management during the third quarter worth $209,000. PDT Partners LLC acquired a new stake in Regional Management during the third quarter valued at $213,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in 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 valued at $243,000 after buying an additional 2,497 shares in the last quarter. Institutional investors and hedge funds 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.