Regional Management Corp. (RM) Reaches New 12-Month High at $22.07
Shares of Regional Management Corp. (NYSE:RM) hit a new 52-week high during trading on Wednesday . The company traded as high as $22.07 and last traded at $21.73, with a volume of 14,372 shares changing hands. The stock had previously closed at $21.80.
A number of analysts have commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Regional Management Corp. from $17.50 to $19.00 and gave the company a “market perform” rating in a research report on Thursday, July 28th. Zacks Investment Research cut shares of Regional Management Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, July 14th. Finally, BMO Capital Markets reissued a “buy” rating and set a $26.00 price objective on shares of Regional Management Corp. in a research report on Wednesday, July 27th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Regional Management Corp. has an average rating of “Hold” and an average price target of $21.20.
The firm has a market cap of $246.47 million, a P/E ratio of 11.0548 and a beta of 1.59. The firm has a 50 day moving average price of $20.59 and a 200-day moving average price of $17.54.
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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 analysts’ consensus estimates 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 analysts’ expectations of $58.32 million. Equities research analysts expect that Regional Management Corp. will post $2.02 earnings per share for the current fiscal year.
In related news, major shareholder Glen Capital Partners Focus Fu sold 125,656 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 1,217,038 shares of the company’s stock, valued at $22,965,507.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. 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 worth $107,000 after buying an additional 636 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in Regional Management Corp. during the second quarter valued at approximately $182,000. Sippican Capital Advisors acquired a new stake in Regional Management Corp. during the second quarter valued at approximately $220,000. Acadian Asset Management LLC raised 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 acquired a new stake in Regional Management Corp. during the first quarter valued at approximately $396,000. Hedge funds and other institutional investors own 89.94% of the company’s stock.
About Regional Management Corp.
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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