Hillsdale Investment Management Inc. Buys Shares of 28,500 Medallion Financial Corp. $MFIN

Hillsdale Investment Management Inc. bought a new stake in shares of Medallion Financial Corp. (NASDAQ:MFIN) in the 2nd quarter, Holdings Channel reports. The firm bought 28,500 shares of the credit services provider’s stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MFIN. Allworth Financial LP bought a new position in Medallion Financial during the 2nd quarter valued at approximately $152,000. Ritholtz Wealth Management grew its stake in shares of Medallion Financial by 21.6% in the second quarter. Ritholtz Wealth Management now owns 75,866 shares of the credit services provider’s stock worth $723,000 after acquiring an additional 13,500 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Medallion Financial by 4.6% in the second quarter. Janney Montgomery Scott LLC now owns 69,116 shares of the credit services provider’s stock worth $659,000 after acquiring an additional 3,053 shares during the last quarter. Baron Wealth Management LLC bought a new position in shares of Medallion Financial during the second quarter valued at $103,000. Finally, Empowered Funds LLC raised its position in shares of Medallion Financial by 9.7% in the 1st 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. Hedge funds and other institutional investors own 40.56% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MFIN. Wall Street Zen downgraded shares of Medallion Financial from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research upgraded shares of Medallion Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Medallion Financial in a research report on Wednesday, October 8th. Finally, LADENBURG THALM/SH SH upgraded shares of Medallion Financial from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Medallion Financial currently has an average rating of “Buy” and an average target price of $12.00.

Medallion Financial Price Performance

MFIN opened at $9.55 on Tuesday. The company’s 50-day simple moving average is $9.95 and its two-hundred day simple moving average is $9.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.20. The stock has a market capitalization of $222.31 million, a P/E ratio of 5.58 and a beta of 1.39. Medallion Financial Corp. has a 52-week low of $7.71 and a 52-week high of $10.98.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings data on Wednesday, October 29th. The credit services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.17. The firm had revenue of $55.69 million during the quarter, compared to analysts’ expectations of $53.76 million. Medallion Financial had a net margin of 12.12% and a return on equity of 9.40%. As a group, analysts predict that Medallion Financial Corp. will post 1.46 EPS for the current year.

Medallion Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Wednesday, November 12th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, November 12th. This represents a $0.48 dividend on an annualized basis and a yield of 5.0%. Medallion Financial’s payout ratio is currently 28.07%.

Medallion Financial Company Profile

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.