Panagora Asset Management Inc. Buys Shares of 60,157 Medallion Financial Corp. (NASDAQ:MFIN)

Panagora Asset Management Inc. purchased a new position in Medallion Financial Corp. (NASDAQ:MFIN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 60,157 shares of the credit services provider’s stock, valued at approximately $462,000. Panagora Asset Management Inc. owned about 0.26% of Medallion Financial as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Ridgewood Investments LLC acquired a new position in Medallion Financial in the second quarter valued at approximately $38,000. Jump Financial LLC acquired a new position in Medallion Financial during the 4th quarter valued at approximately $161,000. Fortis Capital Advisors LLC bought a new position in Medallion Financial during the 1st quarter worth $169,000. Denali Advisors LLC increased its position in Medallion Financial by 100.4% in the first quarter. Denali Advisors LLC now owns 44,700 shares of the credit services provider’s stock worth $354,000 after buying an additional 22,400 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its stake 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. 40.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Medallion Financial Price Performance

Shares of NASDAQ:MFIN opened at $7.81 on Wednesday. The firm’s 50 day moving average is $7.97 and its two-hundred day moving average is $7.97. The firm has a market capitalization of $180.96 million, a P/E ratio of 3.68 and a beta of 2.16. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.55. Medallion Financial Corp. has a 52 week low of $6.28 and a 52 week high of $10.14.

Medallion Financial (NASDAQ:MFIN) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $0.30 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $50.39 million. During the same quarter in the prior year, the business earned $0.62 earnings per share. Analysts anticipate that Medallion Financial Corp. will post 1.48 earnings per share for the current year.

Medallion Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date of this dividend was Thursday, August 15th. Medallion Financial’s dividend payout ratio is currently 18.87%.

Medallion Financial Company 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.