Medallion Financial Corp. $MFIN Shares Purchased by Sei Investments Co.

Sei Investments Co. increased its holdings in shares of Medallion Financial Corp. (NASDAQ:MFIN) by 124.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 490,972 shares of the credit services provider’s stock after purchasing an additional 271,789 shares during the quarter. Sei Investments Co.’s holdings in Medallion Financial were worth $4,203,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Medallion Financial by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 406,754 shares of the credit services provider’s stock valued at $4,186,000 after buying an additional 6,458 shares during the period. Uniplan Investment Counsel Inc. boosted its stake in shares of Medallion Financial by 34.5% in the fourth quarter. Uniplan Investment Counsel Inc. now owns 340,123 shares of the credit services provider’s stock valued at $3,500,000 after purchasing an additional 87,321 shares during the period. State Street Corp boosted its stake in shares of Medallion Financial by 1.0% in the fourth quarter. State Street Corp now owns 243,509 shares of the credit services provider’s stock valued at $2,506,000 after purchasing an additional 2,462 shares during the period. De Lisle Partners LLP grew its holdings in Medallion Financial by 40.4% during the 4th quarter. De Lisle Partners LLP now owns 180,079 shares of the credit services provider’s stock valued at $1,851,000 after purchasing an additional 51,822 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in Medallion Financial by 3.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 162,283 shares of the credit services provider’s stock valued at $1,670,000 after purchasing an additional 5,374 shares in the last quarter. 40.56% of the stock is owned by institutional investors and hedge funds.

Medallion Financial Stock Down 1.0%

MFIN stock opened at $10.79 on Thursday. Medallion Financial Corp. has a twelve month low of $7.85 and a twelve month high of $11.05. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $249.36 million, a P/E ratio of 8.11 and a beta of 0.78. The firm has a 50 day simple moving average of $9.92 and a 200-day simple moving average of $9.68.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings results on Wednesday, July 29th. The credit services provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $84.38 million during the quarter, compared to analyst estimates of $58.98 million. Medallion Financial had a net margin of 9.25% and a return on equity of 7.12%. On average, equities research analysts predict that Medallion Financial Corp. will post 1.15 earnings per share for the current fiscal year.

Medallion Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.56 annualized dividend and a dividend yield of 5.2%. Medallion Financial’s payout ratio is presently 42.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MFIN. Piper Sandler assumed coverage on shares of Medallion Financial in a report on Friday, June 12th. They issued a “neutral” rating and a $10.50 price objective on the stock. Raymond James Financial assumed coverage on Medallion Financial in a research note on Thursday, July 9th. They set a “market perform” rating for the company. Zacks Research raised Medallion Financial from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings upgraded Medallion Financial from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Medallion Financial has an average rating of “Hold” and an average target price of $10.50.

Medallion Financial Company Profile

Medallion Financial Corporation is a specialty finance company that provides asset-based lending solutions to small and mid-sized businesses in the United States. The company’s core business activities include secured loans collateralized by business assets such as insurance premiums, commercial real estate, maritime assets and portfolio receivables. Through its insurance premium finance division, Medallion offers short-term loans that allow policyholders to spread insurance costs over multiple payments, while its portfolio financing arm provides funding against a borrower’s existing asset portfolios.

Founded in 1998 and headquartered in Minneapolis, Minnesota, Medallion Financial originally established itself in the taxi medallion lending market, extending loans secured by New York City cab medallions.