Hillsdale Investment Management Inc. Takes Position in Regional Management Corp. $RM

Hillsdale Investment Management Inc. purchased a new position in shares of Regional Management Corp. (NYSE:RM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 95,155 shares of the credit services provider’s stock, valued at approximately $3,707,000. Hillsdale Investment Management Inc. owned approximately 0.97% of Regional Management at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RM. Forager Capital Management LLC increased its position in shares of Regional Management by 20.7% in the second quarter. Forager Capital Management LLC now owns 1,085,098 shares of the credit services provider’s stock valued at $31,696,000 after buying an additional 186,072 shares in the last quarter. Basswood Capital Management L.L.C. raised its position in Regional Management by 0.4% during the second quarter. Basswood Capital Management L.L.C. now owns 1,024,310 shares of the credit services provider’s stock worth $29,920,000 after acquiring an additional 4,491 shares during the last quarter. Tieton Capital Management LLC lifted its holdings in shares of Regional Management by 18.6% in the second quarter. Tieton Capital Management LLC now owns 295,081 shares of the credit services provider’s stock valued at $8,619,000 after purchasing an additional 46,380 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Regional Management by 6.4% in the second quarter. Geode Capital Management LLC now owns 211,734 shares of the credit services provider’s stock valued at $6,186,000 after purchasing an additional 12,740 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Regional Management by 45.5% in the first quarter. Goldman Sachs Group Inc. now owns 194,374 shares of the credit services provider’s stock valued at $5,853,000 after purchasing an additional 60,744 shares during the last quarter. 98.89% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Regional Management

In other news, major shareholder Fund L.P. Forager sold 809 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $38.62, for a total transaction of $31,243.58. Following the completion of the transaction, the insider owned 1,019,263 shares of the company’s stock, valued at $39,363,937.06. This represents a 0.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael R. Dunn sold 5,580 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $37.46, for a total transaction of $209,026.80. Following the completion of the sale, the director directly owned 103,109 shares in the company, valued at $3,862,463.14. This represents a 5.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 78,835 shares of company stock worth $3,050,428 in the last 90 days. 10.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RM shares. Wall Street Zen lowered Regional Management from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Zacks Research raised Regional Management from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Regional Management in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.00.

Regional Management Stock Performance

RM stock opened at $34.50 on Monday. The company has a 50 day moving average price of $37.65 and a two-hundred day moving average price of $38.91. The stock has a market capitalization of $334.99 million, a P/E ratio of 7.75 and a beta of 1.07. Regional Management Corp. has a one year low of $25.41 and a one year high of $46.00.

Regional Management (NYSE:RM) last posted its quarterly earnings data on Wednesday, February 4th. The credit services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.07. The business had revenue of ($165.49) million for the quarter, compared to analysts’ expectations of $167.90 million. Regional Management had a return on equity of 12.19% and a net margin of 6.88%. Research analysts forecast that Regional Management Corp. will post 4.7 earnings per share for the current fiscal year.

Regional Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 19th will be issued a $0.30 dividend. The ex-dividend date is Thursday, February 19th. This represents a $1.20 annualized dividend and a yield of 3.5%. Regional Management’s payout ratio is 26.97%.

Regional Management Company Profile

Regional Management Corp., headquartered in Wilmington, North Carolina, is a consumer finance company specializing in installment loan products for underbanked individuals. Since its founding in 1977, the company has developed a network of field-based branches alongside a digital platform to offer credit solutions in rural and small-town markets across the United States.

The company’s core offerings include consumer installment loans for everyday purchases, auto refinancing and lease buyouts, as well as ancillary services such as insurance referrals.