Catherine R. Atwood, Senior Vice President and General Counsel of Regional Management Corp . (NYSE:RM), recently sold 1,128 shares of the company's common stock. The shares were sold at a price of $33 each, totaling $37,224. The sale comes as RM, a $337 million market cap financial services company, trades near its 52-week high of $34.15, having delivered an impressive 52% return over the past year. Following this transaction, Atwood holds 42,025 shares directly. This sale was disclosed in a filing with the Securities and Exchange Commission on December 6, 2024. According to InvestingPro, the stock is currently trading at Fair Value, with 7 additional ProTips available to subscribers, including insights on earnings growth and financial health metrics.
In other recent news, Regional Management Corp. has announced a $30 million stock repurchase program. The authorization is effective immediately and will continue through December 31, 2026. The program is part of the company's strategy to manage its capital and return value to shareholders. The decision reflects the company's strong performance and confidence in its future prospects.
In addition to the repurchase program, Regional Management Corp. has outlined growth expectations for 2025, targeting a 10% to 12% increase in ending net receivables. This is an uptick from the approximately 6% growth rate in 2024. The company has also expanded its footprint to eight new states since 2020, enlarging its addressable market by over 80%.
During its third-quarter earnings conference call, Regional Management Corp. communicated a cautious outlook. While the company anticipates positive performance, it acknowledges the unpredictable nature of the market and other external factors. These are the recent developments for Regional Management Corp.
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