De Lisle Partners LLP Acquires Shares of 198,711 Medallion Financial Corp. $MFIN

De Lisle Partners LLP bought a new stake in Medallion Financial Corp. (NASDAQ:MFIN) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 198,711 shares of the credit services provider’s stock, valued at approximately $2,027,000. De Lisle Partners LLP owned about 0.87% of Medallion Financial as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in MFIN. BNP Paribas Financial Markets lifted its position in Medallion Financial by 45.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,708 shares of the credit services provider’s stock worth $37,000 after acquiring an additional 1,150 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Medallion Financial in the 4th quarter valued at approximately $42,000. Tower Research Capital LLC TRC increased its holdings in shares of Medallion Financial by 533.1% in the second quarter. Tower Research Capital LLC TRC now owns 6,280 shares of the credit services provider’s stock valued at $60,000 after purchasing an additional 5,288 shares during the period. Osaic Holdings Inc. acquired a new position in shares of Medallion Financial in the second quarter valued at approximately $76,000. Finally, Vise Technologies Inc. purchased a new stake in shares of Medallion Financial during the fourth quarter worth approximately $106,000. Institutional investors and hedge funds own 40.56% of the company’s stock.

Medallion Financial Trading Up 2.0%

NASDAQ:MFIN opened at $11.68 on Friday. Medallion Financial Corp. has a 1 year low of $7.85 and a 1 year high of $11.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.22. The stock has a fifty day moving average price of $10.28 and a two-hundred day moving average price of $9.78. The stock has a market capitalization of $268.17 million, a price-to-earnings ratio of 8.78 and a beta of 0.78.

Medallion Financial (NASDAQ:MFIN) last issued its earnings results on Wednesday, July 29th. The credit services provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. Medallion Financial had a net margin of 9.25% and a return on equity of 7.11%. The company had revenue of $84.38 million for the quarter, compared to analyst estimates of $58.98 million. As a group, sell-side analysts anticipate that Medallion Financial Corp. will post 1.15 earnings per share for the current fiscal year.

Medallion Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a $0.14 dividend. The ex-dividend date is Monday, August 17th. This represents a $0.56 annualized dividend and a dividend yield of 4.8%. Medallion Financial’s dividend payout ratio (DPR) is 42.11%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Raymond James Financial began coverage on Medallion Financial in a report on Thursday, July 9th. They set a “market perform” rating for the company. Zacks Research raised shares of Medallion Financial from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Weiss Ratings upgraded shares of Medallion Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Finally, Piper Sandler initiated coverage on shares of Medallion Financial in a research note on Friday, June 12th. They issued a “neutral” rating and a $10.50 target price for the company. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, Medallion Financial currently has an average rating of “Hold” and an average price target of $10.50.

Medallion Financial Company Profile

Medallion Financial Corporation is a specialty finance company that provides asset-based lending solutions to small and mid-sized businesses in the United States. The company’s core business activities include secured loans collateralized by business assets such as insurance premiums, commercial real estate, maritime assets and portfolio receivables. Through its insurance premium finance division, Medallion offers short-term loans that allow policyholders to spread insurance costs over multiple payments, while its portfolio financing arm provides funding against a borrower’s existing asset portfolios.

Founded in 1998 and headquartered in Minneapolis, Minnesota, Medallion Financial originally established itself in the taxi medallion lending market, extending loans secured by New York City cab medallions.