New York State Common Retirement Fund boosted its stake in Regional Management Corp (NYSE:RM) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,303 shares of the credit services provider’s stock after acquiring an additional 1,814 shares during the period. New York State Common Retirement Fund owned 0.26% of Regional Management worth $729,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Regional Management during the 3rd quarter worth $243,000. MetLife Investment Advisors LLC lifted its holdings in Regional Management by 54.7% during the 3rd quarter. MetLife Investment Advisors LLC now owns 8,503 shares of the credit services provider’s stock worth $245,000 after purchasing an additional 3,007 shares in the last quarter. Martingale Asset Management L P purchased a new stake in Regional Management during the 3rd quarter worth about $257,000. Rhumbline Advisers lifted its holdings in Regional Management by 44.0% during the 4th quarter. Rhumbline Advisers now owns 12,483 shares of the credit services provider’s stock worth $300,000 after purchasing an additional 3,814 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Regional Management by 34.5% during the 3rd quarter. First Trust Advisors LP now owns 14,505 shares of the credit services provider’s stock worth $418,000 after purchasing an additional 3,721 shares in the last quarter. Institutional investors and hedge funds own 87.21% of the company’s stock.
A number of analysts recently issued reports on RM shares. Zacks Investment Research raised Regional Management from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Wednesday, April 17th. BTIG Research assumed coverage on Regional Management in a report on Friday, February 22nd. They set a “buy” rating and a $36.00 price objective on the stock. JMP Securities reaffirmed a “buy” rating and issued a $34.00 price target on shares of Regional Management in a report on Sunday, February 17th. ValuEngine raised Regional Management from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $27.00 price objective on shares of Regional Management in a report on Monday, January 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $32.50.
Regional Management (NYSE:RM) last posted its quarterly earnings results on Tuesday, February 12th. The credit services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.11. Regional Management had a return on equity of 14.51% and a net margin of 11.52%. The business had revenue of $83.75 million for the quarter, compared to analyst estimates of $82.44 million. On average, analysts forecast that Regional Management Corp will post 3.55 EPS for the current fiscal year.
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 traditional lenders. The company offers small and large installment 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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