Goldman Sachs Group Inc. Trims Stock Position in Medallion Financial Corp. $MFIN

Key Points

• Goldman Sachs significantly reduced its stake in Medallion Financial Corp. by 41.4%, owning 39,014 shares valued at approximately $340,000.
• Medallion Financial recently declared a quarterly dividend of $0.12, representing a dividend yield of 4.6% with a payout ratio of 27.27%.
• Despite recent adjustments by analysts, the stock has a current average rating of "Buy" and an average price target of $12.00.

Goldman Sachs Group Inc. lessened its stake in shares of Medallion Financial Corp. (NASDAQ:MFIN - Free Report) by 41.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,014 shares of the credit services provider's stock after selling 27,589 shares during the quarter. Goldman Sachs Group Inc. owned about 0.17% of Medallion Financial worth $340,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MFIN. Bank of America Corp DE raised its position in Medallion Financial by 11.5% in the 4th quarter. Bank of America Corp DE now owns 29,644 shares of the credit services provider's stock valued at $278,000 after purchasing an additional 3,057 shares during the last quarter. Deutsche Bank AG purchased a new stake in Medallion Financial in the 4th quarter valued at $92,000. Two Sigma Advisers LP raised its position in Medallion Financial by 4.1% in the 4th quarter. Two Sigma Advisers LP now owns 125,100 shares of the credit services provider's stock valued at $1,175,000 after purchasing an additional 4,900 shares during the last quarter. Two Sigma Investments LP raised its position in Medallion Financial by 7.9% in the 4th quarter. Two Sigma Investments LP now owns 98,797 shares of the credit services provider's stock valued at $928,000 after purchasing an additional 7,242 shares during the last quarter. Finally, Wolverine Trading LLC purchased a new stake in Medallion Financial in the 4th quarter valued at $130,000. Hedge funds and other institutional investors own 40.56% of the company's stock.

Medallion Financial Stock Down 0.2%

MFIN stock opened at $10.48 on Friday. Medallion Financial Corp. has a one year low of $7.71 and a one year high of $10.98. The stock has a market capitalization of $243.66 million, a PE ratio of 5.95 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.20. The company has a fifty day moving average of $10.36 and a 200-day moving average of $9.54.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last released its earnings results on Wednesday, July 30th. The credit services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.30 by $0.16. Medallion Financial had a net margin of 12.62% and a return on equity of 9.04%. The company had revenue of $53.37 million during the quarter, compared to analysts' expectations of $52.07 million. As a group, analysts expect that Medallion Financial Corp. will post 1.46 EPS for the current year.

Medallion Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Friday, August 15th. Medallion Financial's dividend payout ratio (DPR) is currently 27.27%.

Analysts Set New Price Targets

Several research firms recently commented on MFIN. Wall Street Zen downgraded shares of Medallion Financial from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. LADENBURG THALM/SH SH upgraded shares of Medallion Financial from a "neutral" rating to a "buy" rating and set a $12.00 price target for the company in a research report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $12.00.

Medallion Financial Company 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.

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