Regional Management (NYSE:RM) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Regional Management (NYSE:RM) from a buy rating to a hold rating in a report released on Friday, Zacks.com reports.

According to Zacks, “Regional Management Corp. is a diversified specialty consumer finance company engaged in providing loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other traditional lenders. It offers Small Installment Loans, Large Installment Loans, Automobile Purchase Loans, Furniture and Appliance Purchase Loans and Insurance Products. The Company has operations primarily in South Carolina, Texas, North Carolina, Tennessee and Alabama. Regional Management Corp. is headquartered in Greenville, South Carolina. “

Other analysts also recently issued reports about the stock. Janney Montgomery Scott upgraded shares of Regional Management from a neutral rating to a buy rating in a report on Thursday, May 9th. ValuEngine upgraded shares of Regional Management from a strong sell rating to a sell rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Regional Management currently has a consensus rating of Hold and a consensus target price of $31.80.

Shares of RM stock traded up $0.12 during midday trading on Friday, reaching $27.08. 56,700 shares of the company were exchanged, compared to its average volume of 57,529. Regional Management has a 12 month low of $22.90 and a 12 month high of $35.37. The company has a market cap of $304.49 million, a P/E ratio of 8.50 and a beta of 0.93. The company’s 50 day moving average price is $26.21 and its two-hundred day moving average price is $25.84. The company has a debt-to-equity ratio of 2.44, a quick ratio of 48.69 and a current ratio of 48.69.

Regional Management (NYSE:RM) last released its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Regional Management had a net margin of 10.59% and a return on equity of 13.37%. The company had revenue of $84.27 million for the quarter, compared to the consensus estimate of $80.50 million. As a group, sell-side analysts predict that Regional Management will post 3.43 earnings per share for the current year.

In related news, Director Michael R. Dunn sold 10,256 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $28.01, for a total value of $287,270.56. Following the sale, the director now directly owns 92,451 shares in the company, valued at approximately $2,589,552.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert William Beck bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $26.58 per share, for a total transaction of $132,900.00. Following the completion of the acquisition, the chief financial officer now directly owns 17,875 shares in the company, valued at $475,117.50. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 213,101 shares of company stock worth $5,360,791 and sold 26,524 shares worth $726,507. 9.50% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Argent Capital Management LLC increased its position in shares of Regional Management by 19.3% in the first quarter. Argent Capital Management LLC now owns 65,412 shares of the credit services provider’s stock worth $1,597,000 after acquiring an additional 10,602 shares in the last quarter. Signia Capital Management LLC increased its position in shares of Regional Management by 84.5% in the first quarter. Signia Capital Management LLC now owns 75,646 shares of the credit services provider’s stock worth $1,847,000 after acquiring an additional 34,644 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Regional Management by 24.8% in the first quarter. Assenagon Asset Management S.A. now owns 32,256 shares of the credit services provider’s stock worth $788,000 after acquiring an additional 6,404 shares in the last quarter. Millennium Management LLC increased its position in shares of Regional Management by 44.6% in the fourth quarter. Millennium Management LLC now owns 83,297 shares of the credit services provider’s stock worth $2,003,000 after acquiring an additional 25,687 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Regional Management by 21.8% in the fourth quarter. Geode Capital Management LLC now owns 106,850 shares of the credit services provider’s stock worth $2,568,000 after acquiring an additional 19,106 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Regional Management Company Profile

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 traditional lenders. The company offers small and large installment loans; loans to finance the purchase of furniture, appliances, and other retail products; insurance products, including credit life, credit accident and health, credit property, vehicle single interest, and credit involuntary unemployment insurance; collateral protection insurance; and property insurance, as well as reinsurance products.

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