Cutter & CO Brokerage Inc. Sells 3,500 Shares of Medallion Financial Corp. (NASDAQ:MFIN)

Cutter & CO Brokerage Inc. cut its holdings in Medallion Financial Corp. (NASDAQ:MFIN) by 19.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,800 shares of the credit services provider’s stock after selling 3,500 shares during the period. Cutter & CO Brokerage Inc. owned approximately 0.06% of Medallion Financial worth $146,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC acquired a new stake in shares of Medallion Financial in the third quarter worth $57,000. Denali Advisors LLC bought a new position in Medallion Financial during the 3rd quarter valued at about $84,000. EAM Investors LLC bought a new position in shares of Medallion Financial in the third quarter valued at approximately $125,000. PAX Financial Group LLC acquired a new position in shares of Medallion Financial in the 3rd quarter worth approximately $130,000. Finally, Corton Capital Inc. grew its holdings in shares of Medallion Financial by 10.8% during the third quarter. Corton Capital Inc. now owns 26,100 shares of the credit services provider’s stock worth $183,000 after purchasing an additional 2,543 shares during the last quarter. 40.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Medallion Financial from a “buy” rating to a “hold” rating in a report on Friday, April 12th.

Medallion Financial Trading Up 1.1 %

MFIN traded up $0.09 during mid-day trading on Wednesday, reaching $8.25. The stock had a trading volume of 26,261 shares, compared to its average volume of 100,790. The firm’s fifty day simple moving average is $8.03 and its two-hundred day simple moving average is $8.65. The stock has a market capitalization of $193.71 million, a P/E ratio of 3.49 and a beta of 2.06. Medallion Financial Corp. has a 52 week low of $5.64 and a 52 week high of $10.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.20 and a current ratio of 1.20.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings results on Tuesday, February 20th. The credit services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). Medallion Financial had a net margin of 20.99% and a return on equity of 14.02%. The firm had revenue of $52.01 million during the quarter, compared to the consensus estimate of $54.89 million. On average, equities analysts predict that Medallion Financial Corp. will post 1.52 EPS for the current year.

Medallion Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend was Thursday, March 14th. Medallion Financial’s payout ratio is 16.88%.

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.