Rhumbline Advisers Boosts Stock Position in Medallion Financial Corp. (NASDAQ:MFIN)

Rhumbline Advisers lifted its stake in shares of Medallion Financial Corp. (NASDAQ:MFIN) by 2,306.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,185 shares of the credit services provider’s stock after buying an additional 23,180 shares during the quarter. Rhumbline Advisers’ holdings in Medallion Financial were worth $186,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ritholtz Wealth Management boosted its stake in Medallion Financial by 13.2% during the 2nd quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock valued at $320,000 after acquiring an additional 4,862 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Medallion Financial in the 2nd quarter valued at about $462,000. Ridgewood Investments LLC bought a new position in shares of Medallion Financial during the second quarter worth about $38,000. Bank of New York Mellon Corp grew its stake in Medallion Financial by 60.1% in the second quarter. Bank of New York Mellon Corp now owns 140,794 shares of the credit services provider’s stock worth $1,081,000 after purchasing an additional 52,857 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in Medallion Financial by 3.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 98,279 shares of the credit services provider’s stock valued at $777,000 after buying an additional 3,125 shares during the last quarter. Institutional investors own 40.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Medallion Financial from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

Medallion Financial Stock Performance

Medallion Financial stock opened at $8.12 on Monday. The company has a market cap of $188.14 million, a PE ratio of 3.83 and a beta of 2.16. Medallion Financial Corp. has a 12 month low of $6.28 and a 12 month high of $10.14. The company has a fifty day moving average price of $7.90 and a two-hundred day moving average price of $7.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 1.19.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). Medallion Financial had a net margin of 14.97% and a return on equity of 10.35%. The business had revenue of $71.80 million for the quarter, compared to the consensus estimate of $50.39 million. During the same period in the prior year, the company earned $0.62 EPS. Research analysts expect that Medallion Financial Corp. will post 1.48 earnings per share for the current year.

Medallion Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Thursday, August 15th. Medallion Financial’s dividend payout ratio (DPR) is 18.87%.

Medallion Financial Profile

Medallion Financial Corp., together with its subsidiaries, operates as a specialty finance company in the United States. It operates in four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Taxi Medallion Lending. The company offers loans that finance consumer purchases of recreational vehicles, boats, and other consumer recreational equipment; consumer financing for window, siding, and roof replacement, swimming pool installations, and other home improvement projects; senior and subordinated loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business; and taxi medallion loans to individuals and small to mid-size businesses.