Sheaff Brock Investment Advisors LLC Cuts Stock Position in Medallion Financial Corp. (NASDAQ:MFIN)

Sheaff Brock Investment Advisors LLC trimmed its position in Medallion Financial Corp. (NASDAQ:MFIN) by 33.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,000 shares of the credit services provider’s stock after selling 8,000 shares during the period. Sheaff Brock Investment Advisors LLC owned approximately 0.07% of Medallion Financial worth $130,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new stake in shares of Medallion Financial in the 2nd quarter valued at approximately $38,000. Rhumbline Advisers boosted its position in shares of Medallion Financial by 2,306.5% during the 2nd quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock worth $186,000 after purchasing an additional 23,180 shares in the last quarter. Ritholtz Wealth Management grew its stake in shares of Medallion Financial by 13.2% during the 2nd quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock worth $320,000 after purchasing an additional 4,862 shares during the period. Panagora Asset Management Inc. purchased a new position in shares of Medallion Financial in the 2nd quarter valued at about $462,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of 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 purchasing an additional 3,125 shares during the period. 40.56% of the stock is owned by institutional investors and hedge funds.

Medallion Financial Stock Performance

Shares of MFIN stock opened at $9.53 on Friday. The stock has a fifty day moving average price of $8.63 and a 200 day moving average price of $8.20. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $219.86 million, a PE ratio of 5.64 and a beta of 2.12. Medallion Financial Corp. has a 1 year low of $6.48 and a 1 year high of $10.19.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $77.00 million during the quarter, compared to the consensus estimate of $52.88 million. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. During the same quarter in the previous year, the company posted $0.48 EPS. Sell-side analysts forecast that Medallion Financial Corp. will post 1.48 earnings per share for the current fiscal year.

Medallion Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a $0.11 dividend. The ex-dividend date is Friday, November 15th. This is a positive change from Medallion Financial’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 4.62%. Medallion Financial’s dividend payout ratio is currently 23.67%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Medallion Financial from a “hold” rating to a “buy” rating in a research report on Saturday.

About Medallion Financial

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.