Robert William Beck, President and CEO of Regional Management Corp . (NYSE:RM), has reported selling shares of the company's common stock, according to a recent SEC filing. The transactions, completed on December 4 and 5, were executed under a pre-established Rule 10b5-1 trading plan. The company, currently valued at $337 million, has demonstrated strong performance with its stock trading near its 52-week high and delivering an impressive 52% return over the past year.
Beck sold a total of 11,000 shares in three separate transactions, amounting to a total value of $358,110. The shares were sold at prices ranging from $32.49 to $33.13 per share. Following these sales, Beck retains ownership of 99,547 shares in the company. According to InvestingPro, the stock currently trades at a P/E ratio of 13.35, and the company maintains a "GOOD" overall financial health score.
The sales were conducted in compliance with regulatory guidelines, and Beck has committed to providing full details of the transactions to Regional Management Corp., its security holders, or the SEC upon request. Based on InvestingPro's Fair Value analysis, the stock appears to be fairly valued at current levels. Subscribers can access 7 additional ProTips and comprehensive financial metrics in the Pro Research Report.
In other recent news, Regional Management Corp. has launched a $30 million stock repurchase program, a move reflecting the company's strong performance and liquidity. The program is part of the company's strategy to manage its capital and return value to shareholders. Additionally, the company has outlined its growth expectations for 2025, with a target increase in ending net receivables of 10% to 12%, a rise from the approximately 6% growth rate in 2024.
The company has also expanded its footprint to eight new states since 2020, increasing its addressable market by over 80%. It plans to continue this expansion, focusing on its auto-secured and small loan portfolios. Furthermore, the company aims to open up to 20 new branches in 2025.
In the latest earnings conference call, Regional Management Corp. discussed its Q3 2024 performance and future prospects. While the company communicated a cautious outlook due to market uncertainties, it remains focused on navigating dynamic market conditions and adapting its strategies for upcoming quarters. These are the recent developments for Regional Management Corp.
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