Connor Clark & Lunn Investment Management Ltd. Purchases 55,639 Shares of Medallion Financial Corp. (NASDAQ:MFIN)

Connor Clark & Lunn Investment Management Ltd. raised its position in Medallion Financial Corp. (NASDAQ:MFIN) by 26.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 269,116 shares of the credit services provider’s stock after purchasing an additional 55,639 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 1.17% of Medallion Financial worth $2,527,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Medallion Financial by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 416,956 shares of the credit services provider’s stock valued at $3,394,000 after purchasing an additional 9,849 shares during the period. Stifel Financial Corp boosted its holdings in Medallion Financial by 4.2% in the 3rd quarter. Stifel Financial Corp now owns 272,949 shares of the credit services provider’s stock valued at $2,222,000 after purchasing an additional 10,974 shares during the period. State Street Corp boosted its holdings in Medallion Financial by 0.7% in the 3rd quarter. State Street Corp now owns 204,558 shares of the credit services provider’s stock valued at $1,665,000 after purchasing an additional 1,333 shares during the period. Segall Bryant & Hamill LLC bought a new position in Medallion Financial in the 3rd quarter valued at $1,025,000. Finally, De Lisle Partners LLP boosted its holdings in Medallion Financial by 26.5% in the 3rd quarter. De Lisle Partners LLP now owns 103,545 shares of the credit services provider’s stock valued at $842,000 after purchasing an additional 21,700 shares during the period. 40.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Medallion Financial Stock Performance

Medallion Financial stock opened at $8.71 on Wednesday. The firm’s fifty day moving average price is $8.80 and its 200-day moving average price is $8.91. 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 market cap of $200.92 million, a P/E ratio of 5.15 and a beta of 2.10. Medallion Financial Corp. has a fifty-two week low of $6.48 and a fifty-two week high of $10.50.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings data on Tuesday, March 4th. The credit services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.10. The firm had revenue of $53.10 million for the quarter, compared to analysts’ expectations of $53.66 million. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. On average, equities research analysts expect that Medallion Financial Corp. will post 1.46 earnings per share for the current fiscal year.

Medallion Financial Dividend Announcement

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

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.