Proficio Capital Partners LLC Invests $831,000 in Regional Management Corp. (NYSE:RM)

Proficio Capital Partners LLC bought a new position in shares of Regional Management Corp. (NYSE:RM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,466 shares of the credit services provider’s stock, valued at approximately $831,000. Proficio Capital Partners LLC owned approximately 0.24% of Regional Management as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Summit Global Investments acquired a new position in shares of Regional Management in the 3rd quarter worth approximately $209,000. GSA Capital Partners LLP acquired a new position in shares of Regional Management in the 3rd quarter worth approximately $338,000. Empowered Funds LLC lifted its holdings in shares of 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 acquiring an additional 2,010 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Regional Management by 11.4% in 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 acquiring an additional 2,406 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Regional Management by 34.1% in the 3rd quarter. FMR LLC now owns 31,384 shares of the credit services provider’s stock worth $1,027,000 after acquiring an additional 7,985 shares during the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Regional Management Stock Up 0.3 %

Shares of RM opened at $31.71 on Friday. The company has a quick ratio of 44.42, a current ratio of 44.42 and a debt-to-equity ratio of 3.94. Regional Management Corp. has a fifty-two week low of $22.89 and a fifty-two week high of $37.52. The company’s fifty day moving average is $34.55 and its two-hundred day moving average is $32.64. The firm has a market cap of $311.78 million, a PE ratio of 7.62 and a beta of 1.53.

Regional Management (NYSE:RM) last announced its earnings results on Wednesday, February 5th. The credit services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.10. Regional Management had a net margin of 7.01% and a return on equity of 13.20%. Analysts forecast that Regional Management Corp. will post 4.7 earnings per share for the current year.

Regional Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.20 annualized dividend and a yield of 3.78%. Regional Management’s payout ratio is 28.85%.

Insider Activity

In related news, CEO Robert William Beck sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $36.71, for a total transaction of $477,230.00. Following the transaction, the chief executive officer now owns 101,673 shares of the company’s stock, valued at approximately $3,732,415.83. This trade represents a 11.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Fund L.P. Forager sold 6,265 shares of Regional Management stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $33.46, for a total transaction of $209,626.90. Following the completion of the transaction, the insider now directly owns 1,054,205 shares in the company, valued at approximately $35,273,699.30. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,741 shares of company stock worth $2,387,771. Corporate insiders own 10.50% of the company’s 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.