Medallion Financial Corp. (NASDAQ:MFIN) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Medallion Financial Corp. (NASDAQ:MFIN) by 32.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 213,477 shares of the credit services provider’s stock after purchasing an additional 51,941 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Medallion Financial were worth $1,738,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new stake in shares of Medallion Financial in the second quarter valued at approximately $38,000. Rhumbline Advisers grew its stake in Medallion Financial by 2,306.5% in the 2nd quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock valued at $186,000 after acquiring an additional 23,180 shares during the period. Ritholtz Wealth Management increased its holdings in Medallion Financial by 13.2% in the 2nd quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock worth $320,000 after acquiring an additional 4,862 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in Medallion Financial during the second quarter worth $462,000. Finally, Segall Bryant & Hamill LLC purchased a new position in Medallion Financial during the third quarter valued at $1,025,000. Hedge funds and other institutional investors own 40.56% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Medallion Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th.

Medallion Financial Stock Down 1.0 %

Shares of MFIN opened at $9.46 on Tuesday. Medallion Financial Corp. has a one year low of $6.48 and a one year high of $10.19. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a 50 day moving average price of $8.83 and a 200 day moving average price of $8.26. The stock has a market capitalization of $218.22 million, a price-to-earnings ratio of 5.64 and a beta of 2.12.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. The company had revenue of $77.00 million during the quarter, compared to analysts’ expectations of $52.88 million. During the same quarter in the prior year, the company earned $0.48 EPS. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Medallion Financial’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 4.65%. Medallion Financial’s payout ratio is 26.04%.

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.