Jacobs Levy Equity Management Inc. Reduces Holdings in Regional Management Corp. (NYSE:RM)

Jacobs Levy Equity Management Inc. lowered its position in Regional Management Corp. (NYSE:RM) by 1.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 38,175 shares of the credit services provider’s stock after selling 586 shares during the period. Jacobs Levy Equity Management Inc. owned 0.38% of Regional Management worth $1,249,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in shares of Regional Management by 3.9% in the second quarter. Rhumbline Advisers now owns 12,430 shares of the credit services provider’s stock worth $357,000 after buying an additional 463 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Regional Management by 0.9% in the 2nd quarter. Renaissance Technologies LLC now owns 201,537 shares of the credit services provider’s stock valued at $5,792,000 after acquiring an additional 1,800 shares during the last quarter. Empowered Funds LLC lifted its stake in Regional Management by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 41,649 shares of the credit services provider’s stock worth $1,362,000 after purchasing an additional 2,010 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Regional Management by 11.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,513 shares of the credit services provider’s stock worth $769,000 after purchasing an additional 2,406 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Regional Management by 50.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,416 shares of the credit services provider’s stock valued at $243,000 after purchasing an additional 2,497 shares in the last quarter. Institutional investors and hedge funds own 98.89% of the company’s stock.

Insider Buying and Selling

In related news, SVP Catherine R. Atwood sold 1,128 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $33.00, for a total transaction of $37,224.00. Following the completion of the transaction, the senior vice president now owns 42,025 shares of the company’s stock, valued at approximately $1,386,825. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert William Beck sold 7,104 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $32.55, for a total value of $231,235.20. Following the completion of the sale, the chief executive officer now directly owns 103,443 shares in the company, valued at approximately $3,367,069.65. The trade was a 6.43 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by company insiders.

Regional Management Stock Performance

NYSE:RM opened at $33.27 on Monday. The company’s 50-day moving average is $30.63 and its two-hundred day moving average is $30.17. Regional Management Corp. has a 1-year low of $20.50 and a 1-year high of $34.15. The company has a debt-to-equity ratio of 3.94, a current ratio of 44.42 and a quick ratio of 44.42. The firm has a market capitalization of $338.02 million, a price-to-earnings ratio of 13.98 and a beta of 1.52.

Regional Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Thursday, November 21st. Regional Management’s dividend payout ratio is presently 50.42%.

Analyst Ratings Changes

Separately, Stephens began coverage on Regional Management in a research note on Wednesday, November 13th. They set an “overweight” rating and a $38.00 price objective on the stock.

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 lenders in the United States. It offers small and large installment loans; and retail loans to finance the purchase of furniture, appliances, and other retail products.