Connor Clark & Lunn Investment Management Ltd. Raises Position in Medallion Financial Corp. (NASDAQ:MFIN)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Medallion Financial Corp. (NASDAQ:MFIN) by 26.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 269,116 shares of the credit services provider’s stock after acquiring an additional 55,639 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Medallion Financial were worth $2,527,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MFIN. Segall Bryant & Hamill LLC purchased a new position in Medallion Financial in the 3rd quarter worth $1,025,000. BNP Paribas Financial Markets increased 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 valued at $39,000 after acquiring an additional 1,656 shares during the period. De Lisle Partners LLP increased its position in shares of Medallion Financial by 26.5% in the third quarter. De Lisle Partners LLP now owns 103,545 shares of the credit services provider’s stock valued at $842,000 after acquiring an additional 21,700 shares during the period. PDT Partners LLC purchased a new position in shares of Medallion Financial in the third quarter valued at about $165,000. Finally, Stifel Financial Corp increased its position in shares of Medallion Financial by 4.2% in the third quarter. Stifel Financial Corp now owns 272,949 shares of the credit services provider’s stock valued at $2,222,000 after acquiring an additional 10,974 shares during the period. Hedge funds and other institutional investors own 40.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Medallion Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th.

Medallion Financial Price Performance

MFIN stock opened at $8.71 on Wednesday. The firm’s 50-day moving average price is $8.80 and its two-hundred day moving average price is $8.91. Medallion Financial Corp. has a 12-month low of $6.48 and a 12-month high of $10.50. The stock has a market capitalization of $200.92 million, a price-to-earnings ratio of 5.15 and a beta of 2.10. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54.

Medallion Financial (NASDAQ:MFIN) last announced its earnings results on Tuesday, March 4th. The credit services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. The firm had revenue of $53.10 million for the quarter, compared to analyst estimates of $53.66 million. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. As a group, equities analysts predict that Medallion Financial Corp. will post 1.46 earnings per share for the current year.

Medallion Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend is Monday, March 17th. Medallion Financial’s payout ratio is 28.95%.

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.