Regional Management Corp. (NYSE:RM) Sees Significant Decline in Short Interest

Regional Management Corp. (NYSE:RM) was the target of a large drop in short interest in October. As of October 15th, there was short interest totalling 258,200 shares, a drop of 15.2% from the September 30th total of 304,600 shares. Approximately 2.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 21,800 shares, the days-to-cover ratio is presently 11.8 days.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price target on shares of Regional Management from $28.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st.

Regional Management Stock Up 0.0 %

Shares of NYSE RM traded up $0.01 during midday trading on Wednesday, hitting $28.96. 19,688 shares of the company’s stock were exchanged, compared to its average volume of 25,990. The company has a market cap of $294.23 million, a PE ratio of 11.45 and a beta of 1.52. Regional Management has a twelve month low of $20.50 and a twelve month high of $34.15. The company has a debt-to-equity ratio of 3.98, a current ratio of 49.53 and a quick ratio of 49.53. The firm’s fifty day simple moving average is $31.54 and its 200-day simple moving average is $29.58.

Regional Management (NYSE:RM) last announced its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.27. The business had revenue of $143.03 million during the quarter, compared to the consensus estimate of $143.13 million. Regional Management had a net margin of 4.37% and a return on equity of 11.24%. During the same quarter last year, the firm posted $0.63 EPS. Research analysts predict that Regional Management will post 4.41 EPS for the current fiscal year.

Institutional Trading of Regional Management

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in shares of Regional Management by 53.4% in the 1st quarter. BNP Paribas Financial Markets now owns 3,974 shares of the credit services provider’s stock valued at $96,000 after buying an additional 1,383 shares during the period. SG Americas Securities LLC acquired a new stake in Regional Management during the third quarter valued at approximately $105,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Regional Management by 81,883.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,919 shares of the credit services provider’s stock worth $141,000 after acquiring an additional 4,913 shares during the last quarter. EMC Capital Management boosted its holdings in shares of Regional Management by 8.1% in the first quarter. EMC Capital Management now owns 6,100 shares of the credit services provider’s stock worth $148,000 after buying an additional 459 shares during the period. Finally, Hancock Whitney Corp purchased a new position in Regional Management during the 2nd quarter worth approximately $234,000. 98.89% of the stock is currently owned by institutional investors and hedge funds.

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.