Cutter & CO Brokerage Inc. Reduces Position in Medallion Financial Corp. (NASDAQ:MFIN)

Cutter & CO Brokerage Inc. cut its holdings in Medallion Financial Corp. (NASDAQ:MFIN) by 19.1% during the fourth quarter, HoldingsChannel reports. The firm owned 14,800 shares of the credit services provider’s stock after selling 3,500 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Medallion Financial were worth $146,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MFIN. Citigroup Inc. acquired a new stake in Medallion Financial in the third quarter valued at $375,000. Quadrature Capital Ltd increased its stake in Medallion Financial by 395.0% during the third quarter. Quadrature Capital Ltd now owns 59,361 shares of the credit services provider’s stock worth $416,000 after acquiring an additional 47,368 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Medallion Financial by 37.8% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 73,738 shares of the credit services provider’s stock valued at $518,000 after acquiring an additional 20,218 shares in the last quarter. PAX Financial Group LLC acquired a new stake in Medallion Financial in the third quarter valued at approximately $130,000. Finally, EAM Investors LLC purchased a new stake in shares of Medallion Financial during the third quarter worth about $125,000. 40.56% of the stock is owned by hedge funds and other institutional investors.

Medallion Financial Price Performance

Shares of NASDAQ MFIN traded up $0.09 during mid-day trading on Wednesday, reaching $8.25. The company had a trading volume of 26,261 shares, compared to its average volume of 100,790. The company has a 50-day moving average price of $8.03 and a two-hundred day moving average price of $8.65. The stock has a market cap of $193.71 million, a PE ratio of 3.49 and a beta of 2.06. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.57. Medallion Financial Corp. has a 1-year low of $5.64 and a 1-year high of $10.49.

Medallion Financial (NASDAQ:MFIN) last issued its earnings results on Tuesday, February 20th. The credit services provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Medallion Financial had a net margin of 20.99% and a return on equity of 14.02%. The firm had revenue of $52.01 million during the quarter, compared to analysts’ expectations of $54.89 million. On average, equities analysts anticipate that Medallion Financial Corp. will post 1.52 earnings per share for the current year.

Medallion Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend was Thursday, March 14th. Medallion Financial’s dividend payout ratio (DPR) is 16.88%.

Analyst Ratings Changes

Separately, StockNews.com lowered Medallion Financial from a “buy” rating to a “hold” rating in a research report on Friday, April 12th.

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.