Robert William Beck, President and CEO of Regional management company . (NYSE:), announced it sold shares of the company's common stock, according to a recent SEC filing. The trades, finalized on December 4 and 5, were executed according to a pre-established trading plan under Rule 10b5-1. The company, currently valued at $337 million, has demonstrated strong performance with stock trading near its 52-week high and an impressive 52% return over the past year.
Beck sold a total of 11,000 shares in three separate transactions, for 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 of the company. According to InvestProthe stock currently trades at a P/E ratio of 13.35 and the company maintains an overall financial health score of “GOOD”.
The sales were completed in accordance with regulatory guidelines and Beck has agreed to provide full details of the transactions to Regional Management Corp., its security holders or the SEC upon request. Based on InvestProBased on '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 addition, Regional Management Corp. launched a $30 million share repurchase program, a move that reflects 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 outlined its growth expectations for 2025, with a target of increasing closing net receivables by 10-12%, an increase from the growth rate of around 6% in 2024.
The company has also expanded its presence to eight new states since 2020, increasing its addressable market by more than 80%. It plans to continue this expansion, focusing on its auto-guaranteed 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 third quarter 2024 performance and future outlook. Although the company has communicated a cautious outlook due to market uncertainties, it remains focused on navigating dynamic market conditions and adapting its strategies for the coming quarters. These are recent developments for Regional Management Corp.
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