Regional Management Corp (NYSE:RM) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 556,200 shares, an increase of 5.1% from the April 30th total of 529,400 shares. Approximately 5.3% of the shares of the company are sold short. Based on an average daily trading volume, of 94,000 shares, the short-interest ratio is presently 5.9 days.
RM has been the subject of several analyst reports. ValuEngine lowered Regional Management from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 2nd. TheStreet lowered Regional Management from a “b-” rating to a “c+” rating in a research note on Thursday, February 13th. JMP Securities reduced their price objective on Regional Management from $35.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Zacks Investment Research lowered Regional Management from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, BMO Capital Markets upgraded Regional Management from a “market perform” rating to an “outperform” rating and set a $29.00 price objective for the company in a research note on Thursday, May 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $21.00.
In related news, CEO Robert William Beck bought 10,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $12.45 per share, for a total transaction of $124,500.00. Following the purchase, the chief executive officer now owns 51,327 shares in the company, valued at $639,021.15. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Basswood Capital Management, L bought 5,115 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were bought at an average price of $16.25 per share, with a total value of $83,118.75. Over the last quarter, insiders have acquired 71,144 shares of company stock valued at $846,467. Company insiders own 9.50% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. boosted its holdings in shares of Regional Management by 36.7% during the 4th quarter. Citigroup Inc. now owns 1,743 shares of the credit services provider’s stock valued at $52,000 after purchasing an additional 468 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Regional Management by 51.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,662 shares of the credit services provider’s stock valued at $36,000 after purchasing an additional 904 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Regional Management during the 4th quarter valued at about $35,000. State Street Corp boosted its holdings in shares of Regional Management by 0.7% during the 3rd quarter. State Street Corp now owns 179,288 shares of the credit services provider’s stock valued at $5,049,000 after purchasing an additional 1,244 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its holdings in shares of Regional Management by 4.6% during the 1st quarter. WINTON GROUP Ltd now owns 29,569 shares of the credit services provider’s stock valued at $404,000 after purchasing an additional 1,310 shares during the last quarter. 85.30% of the stock is owned by institutional investors and hedge funds.
RM stock traded down $0.71 during trading on Friday, reaching $15.38. The company’s stock had a trading volume of 113,131 shares, compared to its average volume of 93,859. Regional Management has a 1 year low of $10.33 and a 1 year high of $34.93. The company has a quick ratio of 33.98, a current ratio of 33.98 and a debt-to-equity ratio of 3.17. The company has a market capitalization of $181.66 million, a P/E ratio of 5.92 and a beta of 1.44. The company’s fifty day moving average is $13.75 and its 200-day moving average is $24.13.
Regional Management (NYSE:RM) last issued its quarterly earnings results on Wednesday, May 6th. The credit services provider reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.39. Regional Management had a return on equity of 17.34% and a net margin of 8.19%. The business had revenue of $96.07 million during the quarter, compared to analyst estimates of $94.01 million. Analysts anticipate that Regional Management will post 2.46 earnings per share for the current year.
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 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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