Red Mountain Capital Partners LLC Decreases Stake in Marlin Business Services Corp. (MRLN)

Red Mountain Capital Partners LLC lessened its stake in shares of Marlin Business Services Corp. (NASDAQ:MRLN) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,001,925 shares of the financial services provider’s stock after selling 7,980 shares during the quarter. Marlin Business Services comprises approximately 27.0% of Red Mountain Capital Partners LLC’s holdings, making the stock its largest position. Red Mountain Capital Partners LLC owned about 24.00% of Marlin Business Services worth $86,305,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American International Group Inc. boosted its stake in shares of Marlin Business Services by 7.1% during the 1st quarter. American International Group Inc. now owns 5,102 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 339 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Marlin Business Services by 3.6% during the 2nd quarter. Wells Fargo & Company MN now owns 5,693 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 200 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Marlin Business Services by 168.0% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 6,222 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 3,900 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Marlin Business Services during the 3rd quarter worth about $205,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Marlin Business Services by 14.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 1,086 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

Separately, Zacks Investment Research downgraded Marlin Business Services from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd.

Shares of Marlin Business Services Corp. (MRLN) opened at $23.00 on Wednesday. The stock has a market capitalization of $288.96, a PE ratio of 16.92 and a beta of 1.22. Marlin Business Services Corp. has a 52 week low of $19.50 and a 52 week high of $29.95.

Marlin Business Services (NASDAQ:MRLN) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.11). The company had revenue of $23.14 million for the quarter, compared to the consensus estimate of $23.60 million. Marlin Business Services had a return on equity of 10.84% and a net margin of 13.40%.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 6th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.56 annualized dividend and a yield of 2.43%. Marlin Business Services’s payout ratio is 49.56%.

TRADEMARK VIOLATION NOTICE: This article was first reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at https://www.chaffeybreeze.com/2017/12/06/red-mountain-capital-partners-llc-decreases-stake-in-marlin-business-services-corp-mrln.html.

About Marlin Business Services

Marlin Business Services Corp. is a bank holding company and a financial holding company. The Company is a provider of credit products and services to small businesses. The Company provides products and services to its customers, which include loans and leases for the acquisition of commercial equipment, working capital loans, and insurance products.

Want to see what other hedge funds are holding MRLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marlin Business Services Corp. (NASDAQ:MRLN).

Institutional Ownership by Quarter for Marlin Business Services (NASDAQ:MRLN)

Receive News & Ratings for Marlin Business Services Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marlin Business Services Corp. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply