Massachusetts Financial Services Co. MA raised its stake in shares of Regional Management Corp (NYSE:RM) by 13.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 51,393 shares of the credit services provider’s stock after purchasing an additional 5,964 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.44% of Regional Management worth $1,636,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Prudential Financial Inc. boosted its stake in Regional Management by 4.5% during the 1st quarter. Prudential Financial Inc. now owns 85,596 shares of the credit services provider’s stock valued at $2,726,000 after purchasing an additional 3,680 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Regional Management during the 1st quarter worth approximately $955,000. Argent Capital Management LLC lifted its position in shares of Regional Management by 595.8% during the 1st quarter. Argent Capital Management LLC now owns 54,410 shares of the credit services provider’s stock worth $1,732,000 after buying an additional 46,590 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Regional Management during the 4th quarter worth approximately $145,000. Finally, Millennium Management LLC lifted its position in shares of Regional Management by 185.5% during the 4th quarter. Millennium Management LLC now owns 86,815 shares of the credit services provider’s stock worth $2,284,000 after buying an additional 56,407 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.
Regional Management stock opened at $36.42 on Thursday. Regional Management Corp has a 52 week low of $19.49 and a 52 week high of $36.73. The company has a current ratio of 48.75, a quick ratio of 48.75 and a debt-to-equity ratio of 2.19. The company has a market cap of $425.29 million, a price-to-earnings ratio of 16.12 and a beta of 1.18.
Regional Management (NYSE:RM) last posted its quarterly earnings results on Tuesday, May 1st. The credit services provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. The company had revenue of $72.63 million for the quarter, compared to analysts’ expectations of $72.27 million. Regional Management had a net margin of 11.09% and a return on equity of 12.51%. sell-side analysts expect that Regional Management Corp will post 3.12 earnings per share for the current fiscal year.
RM has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Regional Management from a “buy” rating to a “hold” rating in a research report on Wednesday, March 14th. ValuEngine raised shares of Regional Management from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $29.86.
In related news, SVP Daniel J. Taggart sold 3,200 shares of Regional Management stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $30.45, for a total value of $97,440.00. Following the sale, the senior vice president now owns 3,351 shares of the company’s stock, valued at approximately $102,037.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roel C. Campos purchased 800 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was bought at an average cost of $31.56 per share, for a total transaction of $25,248.00. Following the acquisition, the director now directly owns 29,654 shares in the company, valued at approximately $935,880.24. The disclosure for this purchase can be found here. Insiders own 8.00% of the company’s stock.
Regional Management Profile
Regional Management Corp., a diversified consumer finance company, provides various 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; automobile purchase 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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