Fortis Capital Advisors LLC Invests $169,000 in Medallion Financial Corp. (NASDAQ:MFIN)

Fortis Capital Advisors LLC acquired a new position in Medallion Financial Corp. (NASDAQ:MFIN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 21,358 shares of the credit services provider’s stock, valued at approximately $169,000. Fortis Capital Advisors LLC owned approximately 0.09% of Medallion Financial at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. AJOVista LLC acquired a new stake in shares of Medallion Financial in the 4th quarter worth $90,000. Jump Financial LLC acquired a new stake in Medallion Financial during the 4th quarter worth about $161,000. Denali Advisors LLC lifted its position in Medallion Financial by 85.8% during the 4th quarter. Denali Advisors LLC now owns 22,300 shares of the credit services provider’s stock worth $220,000 after acquiring an additional 10,300 shares during the period. Ritholtz Wealth Management lifted its position in Medallion Financial by 12.4% during the 4th quarter. Ritholtz Wealth Management now owns 37,663 shares of the credit services provider’s stock worth $371,000 after acquiring an additional 4,144 shares during the period. Finally, Citigroup Inc. acquired a new stake in Medallion Financial during the 3rd quarter worth about $375,000. Institutional investors and hedge funds own 40.56% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Medallion Financial from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th.

Medallion Financial Stock Performance

MFIN traded down $0.06 on Thursday, reaching $8.21. 59,675 shares of the stock were exchanged, compared to its average volume of 112,188. The company’s 50-day moving average price is $7.99 and its 200 day moving average price is $8.43. Medallion Financial Corp. has a fifty-two week low of $6.28 and a fifty-two week high of $10.49. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $191.95 million, a PE ratio of 3.90 and a beta of 2.16.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.07. The business had revenue of $53.32 million during the quarter, compared to analysts’ expectations of $50.36 million. Medallion Financial had a return on equity of 12.32% and a net margin of 17.96%. As a group, sell-side analysts forecast that Medallion Financial Corp. will post 1.53 EPS for the current fiscal year.

Medallion Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.40 annualized dividend and a dividend yield of 4.87%. Medallion Financial’s dividend payout ratio (DPR) is presently 18.87%.

Medallion Financial 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.