PDT Partners LLC Takes $165,000 Position in Medallion Financial Corp. (NASDAQ:MFIN)

PDT Partners LLC acquired a new stake in Medallion Financial Corp. (NASDAQ:MFIN) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,318 shares of the credit services provider’s stock, valued at approximately $165,000.

Several other large investors have also made changes to their positions in the business. Ridgewood Investments LLC purchased a new stake in shares of Medallion Financial in the second quarter worth about $38,000. BNP Paribas Financial Markets lifted its position in shares of Medallion Financial by 52.3% in the third quarter. BNP Paribas Financial Markets now owns 4,820 shares of the credit services provider’s stock worth $39,000 after buying an additional 1,656 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Medallion Financial by 2,306.5% in the second quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock worth $186,000 after buying an additional 23,180 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Medallion Financial by 13.2% in the second quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock worth $320,000 after buying an additional 4,862 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Medallion Financial in the second quarter worth about $462,000. 40.56% of the stock is currently owned by hedge funds and other institutional investors.

Medallion Financial Price Performance

NASDAQ:MFIN opened at $9.58 on Thursday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $221.01 million, a P/E ratio of 5.67 and a beta of 2.11. Medallion Financial Corp. has a 12 month low of $6.48 and a 12 month high of $10.19. The business’s 50-day moving average is $9.09 and its 200 day moving average is $8.34.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. The company had revenue of $77.00 million for the quarter, compared to analysts’ expectations of $52.88 million. During the same period in the previous year, the firm posted $0.48 earnings per share. On average, equities research analysts forecast that Medallion Financial Corp. will post 1.48 earnings per share for the current fiscal year.

Medallion Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were paid a dividend of $0.11 per share. This is a boost from Medallion Financial’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Friday, November 15th. Medallion Financial’s payout ratio is presently 26.04%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Medallion Financial from a “hold” rating to a “buy” rating in a research report on Saturday, November 16th.

About Medallion Financial

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.