Arrowstreet Capital Limited Partnership Makes New $877,000 Investment in Medallion Financial Corp. (NASDAQ:MFIN)

Arrowstreet Capital Limited Partnership bought a new stake in Medallion Financial Corp. (NASDAQ:MFIN - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 93,432 shares of the credit services provider's stock, valued at approximately $877,000. Arrowstreet Capital Limited Partnership owned about 0.40% of Medallion Financial as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. WINTON GROUP Ltd bought a new stake in Medallion Financial during the 4th quarter valued at $257,000. Tieton Capital Management LLC increased its holdings in shares of Medallion Financial by 22.9% during the fourth quarter. Tieton Capital Management LLC now owns 987,098 shares of the credit services provider's stock valued at $9,269,000 after purchasing an additional 184,172 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Medallion Financial by 26.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 269,116 shares of the credit services provider's stock valued at $2,527,000 after purchasing an additional 55,639 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Medallion Financial in the fourth quarter worth about $150,000. Finally, Rhumbline Advisers lifted its holdings in Medallion Financial by 13.6% in the fourth quarter. Rhumbline Advisers now owns 29,192 shares of the credit services provider's stock worth $274,000 after purchasing an additional 3,503 shares during the period. Institutional investors and hedge funds own 40.56% of the company's stock.

Wall Street Analysts Forecast Growth

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

NASDAQ:MFIN traded up $0.01 during midday trading on Thursday, hitting $8.74. 10,484 shares of the stock were exchanged, compared to its average volume of 71,121. The company has a market capitalization of $203.31 million, a price-to-earnings ratio of 5.17 and a beta of 1.58. 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 Corp. has a one year low of $6.48 and a one year high of $10.50. The business has a 50-day moving average price of $8.52 and a two-hundred day moving average price of $9.01.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The credit services provider reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.10. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. The company had revenue of $53.10 million for the quarter, compared to the consensus estimate of $53.66 million. Sell-side analysts predict that Medallion Financial Corp. will post 1.46 EPS for the current year.

Medallion Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend was Monday, March 17th. Medallion Financial's payout ratio is 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.