24,998 Shares in Regional Management Corp. $RM Bought by PDT Partners LLC

PDT Partners LLC acquired a new position in Regional Management Corp. (NYSE:RM) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 24,998 shares of the credit services provider’s stock, valued at approximately $1,030,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wexford Capital LP bought a new stake in shares of Regional Management during the 3rd quarter valued at $32,000. Legal & General Group Plc bought a new position in shares of Regional Management in the 2nd quarter worth about $33,000. Advisory Services Network LLC purchased a new position in Regional Management during the 3rd quarter valued at about $39,000. Kestra Advisory Services LLC purchased a new position in Regional Management during the 4th quarter valued at about $49,000. Finally, BNP Paribas Financial Markets boosted its stake in Regional Management by 45.3% during the third quarter. BNP Paribas Financial Markets now owns 2,077 shares of the credit services provider’s stock worth $81,000 after acquiring an additional 648 shares in the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on RM. Citizens Jmp cut their price objective on shares of Regional Management from $45.00 to $43.00 and set a “market outperform” rating on the stock in a report on Thursday, July 30th. Weiss Ratings cut Regional Management from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 7th. Wall Street Zen downgraded Regional Management from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Regional Management in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.00.

Regional Management Stock Down 2.4%

RM stock opened at $32.54 on Thursday. The stock has a market capitalization of $300.34 million, a P/E ratio of 6.85 and a beta of 1.02. The company has a debt-to-equity ratio of 4.41, a current ratio of 64.04 and a quick ratio of 64.04. Regional Management Corp. has a 1-year low of $30.46 and a 1-year high of $46.00. The business has a fifty day moving average price of $38.04 and a 200-day moving average price of $35.96.

Regional Management (NYSE:RM) last released its quarterly earnings data on Wednesday, July 29th. The credit services provider reported $0.85 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 company had revenue of $168.01 million for the quarter, compared to analysts’ expectations of $165.69 million.

Regional Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders 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 dividend yield of 3.7%. Regional Management’s payout ratio is currently 25.26%.

Insider Buying and Selling

In related news, CAO Steven B. Barnette sold 3,274 shares of the 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 transaction, the chief accounting officer owned 13,472 shares in the company, valued at $583,337.60. This represents a 19.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lakhbir S. Lamba bought 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was bought at an average price of $31.76 per share, for a total transaction of $111,160.00. Following the acquisition, the chief executive officer directly owned 55,734 shares of the company’s stock, valued at $1,770,111.84. The trade was a 6.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 5,074 shares of company stock valued at $216,028 over the last quarter. Company insiders own 10.90% of the company’s stock.

Regional Management Company Profile

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.