Insider Selling: Regional Management Corp. (NYSE:RM) Major Shareholder Sells 5,300 Shares of Stock

Regional Management Corp. (NYSE:RM) major shareholder Fund L.P. Forager sold 5,300 shares of the company’s stock in a transaction that occurred on 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 directly owns 1,080,802 shares of the company’s stock, valued at $36,206,867. The trade was a 0.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Fund L.P. Forager also recently made the following trade(s):

• On Monday, January 6th, Fund L.P. Forager sold 6,265 shares of Regional Management stock. The shares were sold at an average price of $33.46, for a total value of $209,626.90.

Regional Management Stock Performance

Regional Management stock opened at $33.00 on Wednesday. Regional Management Corp. has a fifty-two week low of $20.50 and a fifty-two week high of $35.24. The stock’s 50 day simple moving average is $31.91 and its two-hundred day simple moving average is $31.11. The company has a debt-to-equity ratio of 3.94, a quick ratio of 44.42 and a current ratio of 44.42. The stock has a market cap of $335.38 million, a price-to-earnings ratio of 13.87 and a beta of 1.50.

Regional Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $1.20 annualized dividend and a yield of 3.64%. Regional Management’s payout ratio is 50.42%.

Hedge Funds Weigh In On Regional Management

A number of institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in shares of Regional Management by 18.5% in the 2nd quarter. American Century Companies Inc. now owns 106,773 shares of the credit services provider’s stock worth $3,069,000 after acquiring an additional 16,683 shares in the last quarter. Waterfall Asset Management LLC purchased a new stake in Regional Management in the second quarter worth about $632,000. Allspring Global Investments Holdings LLC increased its stake 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 valued at $243,000 after purchasing an additional 2,497 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Regional Management by 3.4% during the third 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 in the last quarter. Finally, Barclays PLC lifted its holdings 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 valued at $766,000 after purchasing an additional 9,910 shares during the last quarter. Institutional investors own 98.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stephens assumed coverage on shares of Regional Management in a research report on Wednesday, November 13th. They set 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.