Pacific Global Investment Management Co. Acquires 665 Shares of Regional Management Corp. (NYSE:RM)

Pacific Global Investment Management Co. raised its holdings in Regional Management Corp. (NYSE:RM) by 9.8% in the fourth quarter, Holdings Channel reports. The fund owned 7,433 shares of the credit services provider’s stock after acquiring an additional 665 shares during the period. Pacific Global Investment Management Co.’s holdings in Regional Management were worth $253,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Regional Management by 50.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,416 shares of the credit services provider’s stock worth $243,000 after acquiring an additional 2,497 shares during the period. Geode Capital Management LLC raised its stake in shares of Regional Management by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 191,823 shares of the credit services provider’s stock valued at $6,276,000 after purchasing an additional 6,288 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Regional Management by 15.6% in the third 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. Barclays PLC boosted its position in shares of Regional Management by 73.4% during the third quarter. Barclays PLC now owns 23,416 shares of the credit services provider’s stock worth $766,000 after buying an additional 9,910 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Regional Management by 4.9% during the fourth quarter. Empowered Funds LLC now owns 43,691 shares of the credit services provider’s stock worth $1,485,000 after buying an additional 2,042 shares during the period. 98.89% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Fund L.P. Forager sold 5,300 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $33.50, for a total value of $177,550.00. Following the transaction, the insider now owns 1,080,802 shares in the company, valued at approximately $36,206,867. This represents a 0.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert William Beck sold 7,104 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $32.55, for a total transaction of $231,235.20. Following the completion of the transaction, the chief executive officer now directly owns 103,443 shares in the company, valued at approximately $3,367,069.65. This represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,973 shares of company stock valued at $2,656,230. 10.50% of the stock is owned by company insiders.

Regional Management Stock Up 2.5 %

RM stock opened at $33.52 on Monday. The company has a market cap of $329.57 million, a price-to-earnings ratio of 8.06 and a beta of 1.49. Regional Management Corp. has a twelve month low of $22.25 and a twelve month high of $37.52. The business has a 50 day moving average price of $34.73 and a two-hundred day moving average price of $32.64. The company has a quick ratio of 44.42, a current ratio of 44.42 and a debt-to-equity ratio of 3.94.

Regional Management (NYSE:RM) last released its earnings results on Wednesday, February 5th. The credit services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.10. Regional Management had a net margin of 7.01% and a return on equity of 13.20%. Analysts anticipate that Regional Management Corp. will post 4.7 EPS for the current fiscal year.

Regional Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.20 annualized dividend and a dividend yield of 3.58%. Regional Management’s dividend payout ratio is presently 28.85%.

Wall Street Analyst Weigh In

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