LSV Asset Management cut its holdings in shares of Medallion Financial Corp. (NASDAQ:MFIN) by 4.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,253,853 shares of the credit services provider’s stock after selling 57,203 shares during the quarter. LSV Asset Management owned 5.24% of Medallion Financial Corp. worth $2,996,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of MFIN. Bank of New York Mellon Corp raised its position in Medallion Financial Corp. by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 77,306 shares of the credit services provider’s stock worth $153,000 after buying an additional 906 shares during the last quarter. Gamco Investors INC. ET AL raised its position in Medallion Financial Corp. by 25.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 167,000 shares of the credit services provider’s stock worth $331,000 after buying an additional 33,622 shares during the last quarter. Stifel Financial Corp raised its position in Medallion Financial Corp. by 26.0% during the 1st quarter. Stifel Financial Corp now owns 234,550 shares of the credit services provider’s stock worth $458,000 after buying an additional 48,471 shares during the last quarter. Corsair Capital Management L.P. purchased a new position in Medallion Financial Corp. during the 1st quarter worth approximately $273,000. Finally, Teton Advisors Inc. raised its position in Medallion Financial Corp. by 17.9% during the 2nd quarter. Teton Advisors Inc. now owns 165,000 shares of the credit services provider’s stock worth $394,000 after buying an additional 25,000 shares during the last quarter. 17.28% of the stock is owned by institutional investors.
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Separately, ValuEngine raised shares of Medallion Financial Corp. from a “hold” rating to a “buy” rating in a research report on Friday, September 1st.
Medallion Financial Corp. (NASDAQ:MFIN) opened at 2.22 on Wednesday. Medallion Financial Corp. has a 12-month low of $1.60 and a 12-month high of $4.64. The stock’s 50 day moving average is $2.36 and its 200 day moving average is $2.29. The stock has a market capitalization of $53.12 million, a price-to-earnings ratio of 6.32 and a beta of 1.67.
Medallion Financial Corp. (NASDAQ:MFIN) last posted its quarterly earnings data on Wednesday, August 9th. The credit services provider reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.06). The firm had revenue of $0.38 million during the quarter. Medallion Financial Corp. had a net margin of 45.11% and a negative return on equity of 0.79%. Equities research analysts forecast that Medallion Financial Corp. will post $0.37 EPS for the current fiscal year.
In other news, Director David L. Rudnick acquired 12,500 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was acquired at an average cost of $2.26 per share, with a total value of $28,250.00. Following the completion of the acquisition, the director now owns 8,424 shares of the company’s stock, valued at $19,038.24. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 16.16% of the stock is currently owned by corporate insiders.
Medallion Financial Corp. Profile
Medallion Financial Corp. is a closed-end, non-diversified management investment company. The Company is a specialty finance company, which is engaged in originating, acquiring and servicing loans that finance taxicab medallions and various types of commercial businesses. The Company operates in lending and investing operations segment.
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