De Lisle Partners LLP Invests $2.03 Million in Medallion Financial Corp. $MFIN

De Lisle Partners LLP purchased a new position in Medallion Financial Corp. (NASDAQ:MFIN) during the second quarter, HoldingsChannel reports. The fund purchased 198,711 shares of the credit services provider’s stock, valued at approximately $2,027,000.

Several other hedge funds have also recently bought and sold shares of MFIN. Empowered Funds LLC raised its holdings in Medallion Financial by 9.7% during the first quarter. Empowered Funds LLC now owns 27,842 shares of the credit services provider’s stock worth $243,000 after purchasing an additional 2,461 shares during the last quarter. Rhumbline Advisers grew its holdings in Medallion Financial by 6.7% in the second quarter. Rhumbline Advisers now owns 29,712 shares of the credit services provider’s stock valued at $283,000 after purchasing an additional 1,871 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Medallion Financial by 14.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 118,321 shares of the credit services provider’s stock valued at $1,128,000 after buying an additional 14,557 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of Medallion Financial by 87.9% in the second quarter. Raymond James Financial Inc. now owns 30,110 shares of the credit services provider’s stock valued at $287,000 after buying an additional 14,085 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Medallion Financial during the 2nd quarter worth $240,000. 40.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MFIN has been the topic of several recent research reports. Weiss Ratings upgraded shares of Medallion Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Piper Sandler initiated coverage on shares of Medallion Financial in a report on Friday, June 12th. They set a “neutral” rating and a $10.50 target price for the company. Zacks Research upgraded shares of Medallion Financial from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, Raymond James Financial started coverage on shares of Medallion Financial in a report on Thursday, July 9th. They issued a “market perform” rating on the stock. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Medallion Financial presently has an average rating of “Hold” and a consensus price target of $10.50.

Medallion Financial Price Performance

Shares of NASDAQ:MFIN opened at $11.68 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.22. The business’s fifty day moving average price is $10.28 and its two-hundred day moving average price is $9.78. The stock has a market cap of $268.17 million, a PE ratio of 8.78 and a beta of 0.78. Medallion Financial Corp. has a one year low of $7.85 and a one year high of $11.75.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings results on Wednesday, July 29th. The credit services provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Medallion Financial had a return on equity of 7.11% and a net margin of 9.25%.The company had revenue of $84.38 million during the quarter, compared to analysts’ expectations of $58.98 million. On average, analysts forecast that Medallion Financial Corp. will post 1.15 EPS for the current fiscal year.

Medallion Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Monday, August 17th. Medallion Financial’s dividend payout ratio (DPR) is currently 42.11%.

Medallion Financial 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.