Regional Management Corp (NYSE:RM) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 392,700 shares, an increase of 6.3% from the July 31st total of 369,300 shares. Approximately 3.6% of the company’s stock are short sold. Based on an average daily trading volume, of 53,700 shares, the days-to-cover ratio is currently 7.3 days.
RM traded up $0.01 during trading hours on Friday, hitting $28.35. 35,221 shares of the stock were exchanged, compared to its average volume of 63,818. The stock has a 50-day simple moving average of $26.60 and a 200-day simple moving average of $25.74. Regional Management has a 12 month low of $22.90 and a 12 month high of $30.96. The stock has a market cap of $325.39 million, a price-to-earnings ratio of 9.08 and a beta of 0.90. The company has a debt-to-equity ratio of 2.44, a current ratio of 48.69 and a quick ratio of 48.69.
Regional Management (NYSE:RM) last announced its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.05. Regional Management had a return on equity of 13.37% and a net margin of 10.59%. The firm had revenue of $84.27 million for the quarter, compared to analysts’ expectations of $80.50 million. Sell-side analysts expect that Regional Management will post 3.43 EPS for the current year.
In related news, Director Michael R. Dunn sold 10,256 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $28.01, for a total transaction of $287,270.56. Following the transaction, the director now directly owns 92,451 shares in the company, valued at $2,589,552.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael R. Dunn sold 16,113 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $27.00, for a total value of $435,051.00. Following the transaction, the director now owns 107,543 shares in the company, valued at $2,903,661. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 101,827 shares of company stock valued at $2,723,614 and have sold 130,319 shares valued at $3,471,805. Corporate insiders own 9.50% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in RM. Bank of Montreal Can lifted its stake in Regional Management by 203.4% in the second quarter. Bank of Montreal Can now owns 1,174 shares of the credit services provider’s stock valued at $31,000 after buying an additional 787 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Regional Management by 210.7% in the first quarter. BNP Paribas Arbitrage SA now owns 1,948 shares of the credit services provider’s stock valued at $48,000 after buying an additional 1,321 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Regional Management in the second quarter valued at $276,000. Hancock Whitney Corp lifted its stake in Regional Management by 18.2% in the second quarter. Hancock Whitney Corp now owns 10,896 shares of the credit services provider’s stock valued at $287,000 after buying an additional 1,677 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Regional Management by 5.0% in the second quarter. Public Employees Retirement System of Ohio now owns 19,187 shares of the credit services provider’s stock valued at $506,000 after buying an additional 917 shares during the last quarter. Hedge funds and other institutional investors own 86.40% of the company’s stock.
RM has been the topic of several research analyst reports. ValuEngine upgraded Regional Management from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research cut Regional Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Regional Management presently has an average rating of “Hold” and a consensus price target of $31.80.
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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