Regional Management Corp. $RM Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in shares of Regional Management Corp. (NYSE:RM) by 21.8% in the second quarter, Holdings Channel reports. The firm owned 124,788 shares of the credit services provider’s stock after selling 34,800 shares during the period. Wellington Management Group LLP’s holdings in Regional Management were worth $5,141,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Man Group plc purchased a new position in Regional Management in the second quarter valued at about $2,268,000. Tieton Capital Management LLC purchased a new stake in shares of Regional Management in the second quarter worth about $13,112,000. BlackRock Inc. acquired a new stake in shares of Regional Management in the second quarter valued at about $47,514,000. Bank of New York Mellon Corp acquired a new stake in shares of Regional Management in the second quarter valued at about $3,163,000. Finally, Globeflex Capital L P purchased a new stake in shares of Regional Management during the 2nd quarter valued at about $1,428,000. 98.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Regional Management news, CEO Lakhbir Lamba bought 6,500 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were bought at an average cost of $31.59 per share, with a total value of $205,335.00. Following the transaction, the chief executive officer directly owned 52,234 shares in the company, valued at approximately $1,650,072.06. This trade represents a 14.21% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $141,764.20. Following the transaction, the chief accounting officer owned 13,472 shares of the company’s stock, valued at approximately $583,337.60. This trade represents a 19.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 5,074 shares of company stock worth $216,028. 10.90% of the stock is currently owned by corporate insiders.

Regional Management Stock Down 0.7%

Shares of Regional Management stock opened at $32.78 on Thursday. Regional Management Corp. has a 1-year low of $30.46 and a 1-year high of $46.00. The company has a market capitalization of $302.61 million, a PE ratio of 6.90 and a beta of 1.00. 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 business has a 50-day moving average of $36.71 and a 200-day moving average of $35.83.

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

Regional Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, August 19th. This represents a $1.20 annualized dividend and a yield of 3.7%. Regional Management’s payout ratio is currently 25.26%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RM shares. Citizens Jmp reduced their price target on Regional Management from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 30th. Wall Street Zen downgraded shares of Regional Management from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Weiss Ratings lowered shares of Regional Management from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Finally, Citigroup reissued 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.00.

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.