Regional Management Corp. (NYSE:RM) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday.
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. “
RM has been the topic of a number of other reports. BMO Capital Markets reiterated a “buy” rating and set a $26.00 price objective on shares of Regional Management Corp. in a research note on Wednesday, July 27th. Keefe, Bruyette & Woods increased their price objective on shares of Regional Management Corp. from $17.50 to $19.00 and gave the company a “market perform” rating in a research note on Thursday, July 28th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Regional Management Corp. has an average rating of “Hold” and an average target price of $21.25.
Shares of Regional Management Corp. (NYSE:RM) opened at 21.22 on Wednesday. The firm’s 50-day moving average is $21.01 and its 200-day moving average is $17.81. Regional Management Corp. has a 52 week low of $11.77 and a 52 week high of $22.44. The stock has a market capitalization of $242.25 million, a price-to-earnings ratio of 10.87 and a beta of 1.59.
Regional Management Corp. (NYSE:RM) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.13. Regional Management Corp. had a net margin of 11.06% and a return on equity of 12.23%. The firm had revenue of $57.30 million for the quarter, compared to the consensus estimate of $58.32 million. Analysts forecast that Regional Management Corp. will post $2.02 earnings per share for the current fiscal year.
In other Regional Management Corp. news, major shareholder Glen Capital Partners Focus Fu sold 125,656 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $18.87, for a total value of $2,371,128.72. Following the completion of the sale, the insider now directly owns 1,217,038 shares in the company, valued at $22,965,507.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.60% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Nationwide Fund Advisors increased its stake in Regional Management Corp. by 9.6% in the second quarter. Nationwide Fund Advisors now owns 7,279 shares of the company’s stock valued at $107,000 after buying an additional 636 shares during the last quarter. A.R.T. Advisors LLC bought a new stake in Regional Management Corp. during the second quarter valued at approximately $182,000. Sippican Capital Advisors bought a new stake in Regional Management Corp. during the second quarter valued at approximately $220,000. Acadian Asset Management LLC increased its stake in Regional Management Corp. by 369.5% in the second quarter. Acadian Asset Management LLC now owns 15,269 shares of the company’s stock valued at $224,000 after buying an additional 12,017 shares during the last quarter. Finally, Algert Global LLC bought a new stake in Regional Management Corp. during the first quarter valued at approximately $396,000. Institutional investors and hedge funds own 89.94% of the company’s stock.
Regional Management Corp. Company Profile
Regional Management Corp. is a diversified specialty consumer finance company. The Company provides a range of loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other traditional lenders. Its products include small loans, large loans, automobile loans, retail loans and optional credit insurance products.
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