Millennium Management LLC Reduces Position in Regional Management Corp (RM)

Millennium Management LLC lessened its position in shares of Regional Management Corp (NYSE:RM) by 25.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,684 shares of the credit services provider’s stock after selling 6,642 shares during the quarter. Millennium Management LLC’s holdings in Regional Management were worth $689,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in RM. Sterling Capital Management LLC purchased a new position in shares of Regional Management in the 2nd quarter valued at approximately $888,000. Mackay Shields LLC purchased a new position in shares of Regional Management in the 2nd quarter valued at approximately $284,000. Citadel Advisors LLC purchased a new position in shares of Regional Management in the 2nd quarter valued at approximately $600,000. California Public Employees Retirement System grew its stake in shares of Regional Management by 13.3% in the 1st quarter. California Public Employees Retirement System now owns 39,306 shares of the credit services provider’s stock valued at $1,252,000 after purchasing an additional 4,606 shares during the last quarter. Finally, Spark Investment Management LLC grew its stake in shares of Regional Management by 15.2% in the 2nd quarter. Spark Investment Management LLC now owns 66,700 shares of the credit services provider’s stock valued at $2,335,000 after purchasing an additional 8,800 shares during the last quarter. Hedge funds and other institutional investors own 85.99% of the company’s stock.

Regional Management stock opened at $29.10 on Friday. The company has a current ratio of 47.26, a quick ratio of 47.26 and a debt-to-equity ratio of 2.28. Regional Management Corp has a 1-year low of $21.50 and a 1-year high of $37.21. The company has a market capitalization of $344.40 million, a P/E ratio of 12.88 and a beta of 0.81.

Regional Management (NYSE:RM) last posted its quarterly earnings results on Thursday, November 8th. The credit services provider reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.02. Regional Management had a return on equity of 12.87% and a net margin of 11.64%. On average, equities analysts anticipate that Regional Management Corp will post 3.09 earnings per share for the current fiscal year.

Several research analysts have weighed in on the company. ValuEngine downgraded Regional Management from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Stephens reiterated a “hold” rating and issued a $37.00 target price on shares of Regional Management in a research note on Wednesday, August 1st. BMO Capital Markets lifted their target price on Regional Management from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, August 2nd. Zacks Investment Research downgraded Regional Management from a “buy” rating to a “hold” rating in a research note on Saturday, September 8th. Finally, TheStreet downgraded Regional Management from a “b” rating to a “c+” rating in a research note on Monday, July 16th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $34.60.

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About Regional Management

Regional Management Corp., a diversified consumer finance company, provides various 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; automobile purchase 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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Institutional Ownership by Quarter for Regional Management (NYSE:RM)

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