Man Group plc Acquires New Shares in Regional Management Corp. $RM

Man Group plc bought a new stake in Regional Management Corp. (NYSE:RM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 55,048 shares of the credit services provider’s stock, valued at approximately $2,268,000.

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

Wall Street Analyst Weigh In

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

Regional Management Price Performance

NYSE RM opened at $31.77 on Wednesday. Regional Management Corp. has a twelve month low of $30.46 and a twelve month high of $46.00. The stock has a market capitalization of $293.24 million, a PE ratio of 6.69 and a beta of 1.00. The stock has a 50-day simple moving average of $37.60 and a 200 day simple moving average of $35.90. The company has a debt-to-equity ratio of 4.41, a quick ratio of 64.04 and a current ratio of 64.04.

Regional Management (NYSE:RM) last released its earnings results on Wednesday, July 29th. The credit services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.04. Regional Management had a net margin of 6.98% and a return on equity of 12.49%. The business had revenue of $168.01 million during 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. Shareholders of record on Wednesday, August 19th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, August 19th. Regional Management’s dividend payout ratio is 25.26%.

Insider Buying and Selling at Regional Management

In other news, CEO Lakhbir S. Lamba bought 6,500 shares of the stock in a transaction dated Tuesday, August 11th. The shares were acquired at an average price of $31.59 per share, with a total value of $205,335.00. Following the acquisition, the chief executive officer owned 52,234 shares in the company, valued at $1,650,072.06. This trade represents a 14.21% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Steven B. Barnette sold 3,274 shares of Regional Management stock in a transaction dated 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 directly owned 13,472 shares of the company’s stock, valued at $583,337.60. This represents a 19.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,074 shares of company stock valued at $216,028 over the last quarter. Corporate insiders own 10.90% of the company’s stock.

Regional Management 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.