Ritholtz Wealth Management Increases Stock Holdings in Medallion Financial Corp. (NASDAQ:MFIN)

Ritholtz Wealth Management raised its stake in shares of Medallion Financial Corp. (NASDAQ:MFIN) by 13.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,664 shares of the credit services provider’s stock after purchasing an additional 4,862 shares during the quarter. Ritholtz Wealth Management owned approximately 0.18% of Medallion Financial worth $320,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Panagora Asset Management Inc. bought a new position in Medallion Financial in the second quarter worth about $462,000. Ridgewood Investments LLC purchased a new stake in Medallion Financial in the second quarter worth $38,000. Bank of New York Mellon Corp raised its holdings 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. O Shaughnessy Asset Management LLC lifted its position in Medallion Financial by 3.3% during 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 period. Finally, Fortis Capital Advisors LLC bought a new stake in shares of Medallion Financial during the 1st quarter valued at $169,000. 40.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Medallion Financial Price Performance

MFIN stock opened at $7.60 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market capitalization of $176.09 million, a price-to-earnings ratio of 3.58 and a beta of 2.16. The firm has a 50 day moving average price of $7.99 and a 200-day moving average price of $7.96. Medallion Financial Corp. has a 52-week low of $6.28 and a 52-week high of $10.14.

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

Medallion Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were paid a $0.10 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.40 annualized dividend and a dividend yield of 5.26%. Medallion Financial’s dividend payout ratio 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.