Denali Advisors LLC Buys 22,400 Shares of Medallion Financial Corp. (NASDAQ:MFIN)

Denali Advisors LLC grew its stake in Medallion Financial Corp. (NASDAQ:MFIN) by 100.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,700 shares of the credit services provider’s stock after buying an additional 22,400 shares during the quarter. Denali Advisors LLC owned approximately 0.19% of Medallion Financial worth $354,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Ritholtz Wealth Management increased its holdings in Medallion Financial by 12.4% in the 4th quarter. Ritholtz Wealth Management now owns 37,663 shares of the credit services provider’s stock worth $371,000 after acquiring an additional 4,144 shares in the last quarter. Barclays PLC purchased a new stake in shares of Medallion Financial in the third quarter worth $57,000. AJOVista LLC purchased a new stake in shares of Medallion Financial in the fourth quarter worth $90,000. Jump Financial LLC purchased a new position in shares of Medallion Financial during the 4th quarter valued at $161,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Medallion Financial by 25.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,204 shares of the credit services provider’s stock worth $612,000 after buying an additional 17,472 shares during the period. Institutional investors own 40.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Medallion Financial from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st.

Medallion Financial Stock Down 1.5 %

NASDAQ MFIN opened at $8.27 on Thursday. Medallion Financial Corp. has a 12 month low of $6.28 and a 12 month high of $10.49. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.54. The stock has a market cap of $193.35 million, a PE ratio of 3.90 and a beta of 2.16. The stock’s 50 day moving average is $7.94 and its 200 day moving average is $8.55.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. Medallion Financial had a return on equity of 12.32% and a net margin of 17.96%. The firm had revenue of $53.32 million during the quarter, compared to analyst estimates of $50.36 million. Research analysts predict that Medallion Financial Corp. will post 1.53 EPS for the current fiscal year.

Medallion Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date was Tuesday, May 14th. Medallion Financial’s dividend payout ratio (DPR) is presently 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.