Tieton Capital Management LLC Makes New $10.30 Million Investment in Medallion Financial Corp. $MFIN

Tieton Capital Management LLC bought a new stake in shares of Medallion Financial Corp. (NASDAQ:MFINFree Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,008,564 shares of the credit services provider’s stock, valued at approximately $10,297,000. Medallion Financial makes up about 3.0% of Tieton Capital Management LLC’s portfolio, making the stock its 18th biggest position. Tieton Capital Management LLC owned approximately 4.36% of Medallion Financial at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Sei Investments Co. grew its stake in Medallion Financial by 124.0% in the first quarter. Sei Investments Co. now owns 490,972 shares of the credit services provider’s stock valued at $4,203,000 after purchasing an additional 271,789 shares during the last quarter. De Lisle Partners LLP grew its position in shares of Medallion Financial by 40.4% in the 4th quarter. De Lisle Partners LLP now owns 180,079 shares of the credit services provider’s stock worth $1,851,000 after buying an additional 51,822 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Medallion Financial by 9.3% during the 1st quarter. Hsbc Holdings PLC now owns 24,043 shares of the credit services provider’s stock worth $209,000 after acquiring an additional 2,052 shares in the last quarter. Stephens Inc. AR bought a new position in shares of Medallion Financial during the 1st quarter worth approximately $96,000. Finally, Ritholtz Wealth Management lifted its position in Medallion Financial by 4.4% during the first quarter. Ritholtz Wealth Management now owns 96,761 shares of the credit services provider’s stock valued at $828,000 after acquiring an additional 4,066 shares during the last quarter. 40.56% of the stock is owned by institutional investors.

Medallion Financial Price Performance

NASDAQ MFIN opened at $11.43 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 1.21. The stock’s fifty day moving average price is $10.21 and its 200 day moving average price is $9.76. Medallion Financial Corp. has a 1 year low of $7.85 and a 1 year high of $11.56. The company has a market cap of $262.43 million, a price-to-earnings ratio of 8.59 and a beta of 0.78.

Medallion Financial (NASDAQ:MFINGet Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The credit services provider reported $0.31 EPS 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. As a group, equities research analysts forecast that Medallion Financial Corp. will post 1.15 earnings per share for the current year.

Medallion Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.56 dividend on an annualized basis and a yield of 4.9%. Medallion Financial’s dividend payout ratio (DPR) is currently 42.11%.

Analysts Set New Price Targets

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

Check Out Our Latest Stock Analysis on MFIN

About Medallion Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Medallion Financial (NASDAQ:MFIN)

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