Globeflex Capital L P Invests $1.43 Million in Regional Management Corp. $RM

by · The Markets Daily

Globeflex Capital L P acquired a new position in shares of Regional Management Corp. (NYSE:RM – Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 34,663 shares of the credit services provider’s stock, valued at approximately $1,428,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Regional Management in the second quarter valued at about $47,514,000. Tieton Capital Management LLC acquired a new stake in shares of Regional Management during the second quarter valued at about $13,112,000. Sei Investments Co. increased its position in shares of Regional Management by 117.9% during the first quarter. Sei Investments Co. now owns 157,151 shares of the credit services provider’s stock valued at $5,068,000 after acquiring an additional 85,040 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Regional Management in the 2nd quarter valued at approximately $3,163,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Regional Management by 45.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 194,374 shares of the credit services provider’s stock valued at $5,853,000 after acquiring an additional 60,744 shares during the period. 98.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Regional Management in a research report on Thursday, July 30th. Weiss Ratings lowered Regional Management from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 7th. Wall Street Zen cut Regional Management from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, Citizens Jmp lowered their price target on 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. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.00.

View Our Latest Stock Analysis on Regional Management

Insider Activity at Regional Management

In other Regional Management news, CAO Steven B. Barnette sold 3,274 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $43.30, for a total transaction 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. The trade was a 19.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lakhbir S. Lamba acquired 6,500 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was purchased at an average cost of $31.59 per share, for a total transaction of $205,335.00. Following the completion of the transaction, the chief executive officer owned 52,234 shares in the company, valued at approximately $1,650,072.06. The trade was a 14.21% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 10.90% of the company’s stock.

Regional Management Price Performance

RM stock opened at $34.66 on Tuesday. The company has a debt-to-equity ratio of 4.41, a current ratio of 64.04 and a quick ratio of 64.04. The firm has a market capitalization of $319.79 million, a P/E ratio of 7.30 and a beta of 1.02. The business’s 50-day moving average is $38.19 and its two-hundred day moving average is $36.02. Regional Management Corp. has a 1 year low of $30.46 and a 1 year high of $46.00.

Regional Management (NYSE:RM – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The credit services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.04. Regional Management had a return on equity of 12.49% and a net margin of 6.98%.The business had revenue of $168.01 million during the quarter, compared to analysts’ expectations of $165.69 million.

Regional Management Announces Dividend

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

Regional Management Profile

(Free Report)

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.

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