Renaissance Technologies LLC Cuts Stake in Regional Management Corp. $RM

Renaissance Technologies LLC lessened its position in Regional Management Corp. (NYSE:RM) by 8.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 223,233 shares of the credit services provider’s stock after selling 19,904 shares during the period. Renaissance Technologies LLC’s holdings in Regional Management were worth $7,199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State of Alaska Department of Revenue acquired a new position in shares of Regional Management during the fourth quarter worth about $25,000. Wexford Capital LP acquired a new stake in Regional Management in the third quarter valued at about $32,000. Advisory Services Network LLC acquired a new stake in Regional Management in the third quarter valued at about $39,000. Kestra Advisory Services LLC purchased a new stake in Regional Management in the 4th quarter valued at approximately $49,000. Finally, BNP Paribas Financial Markets boosted its holdings in Regional Management by 45.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,077 shares of the credit services provider’s stock valued at $81,000 after purchasing 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 recently issued reports on RM. Citizens Jmp cut their target price on Regional Management from $45.00 to $43.00 and set a “market outperform” rating for the company in a research note on Thursday, July 30th. Citigroup restated a “market outperform” rating on shares of Regional Management in a research note on Thursday, July 30th. Weiss Ratings raised Regional Management from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Finally, Wall Street Zen cut Regional Management from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Regional Management has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Insider Activity at Regional Management

In other Regional Management news, CAO Steven B. Barnette sold 3,274 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $43.30, for a total transaction of $141,764.20. Following the sale, the chief accounting officer owned 13,472 shares in the company, valued at approximately $583,337.60. This represents a 19.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sandra K. Johnson sold 1,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $36.00, for a total value of $36,000.00. Following the sale, the director owned 21,933 shares in the company, valued at approximately $789,588. This trade represents a 4.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 8,874 shares of company stock valued at $350,208. 10.90% of the stock is owned by corporate insiders.

Regional Management Stock Down 2.2%

RM stock opened at $33.97 on Wednesday. The company has a market cap of $313.52 million, a P/E ratio of 7.15 and a beta of 1.02. Regional Management Corp. has a 52 week low of $30.46 and a 52 week high of $46.00. The company’s 50-day moving average price is $39.07 and its 200 day moving average price is $36.44. The company has a current ratio of 64.04, a quick ratio of 59.88 and a debt-to-equity ratio of 4.41.

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

Regional Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Regional Management’s dividend payout ratio (DPR) is 25.26%.

About Regional Management

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.