TIAA CREF Investment Management LLC reduced its position in Marlin Business Services Corp. (NASDAQ:MRLN) by 12.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,342 shares of the financial services provider’s stock after selling 2,468 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.14% of Marlin Business Services worth $500,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Algert Global LLC acquired a new stake in shares of Marlin Business Services in the 3rd quarter worth $208,000. First Trust Advisors LP increased its holdings in shares of Marlin Business Services by 41.7% in the third quarter. First Trust Advisors LP now owns 14,358 shares of the financial services provider’s stock valued at $414,000 after purchasing an additional 4,225 shares during the period. Globeflex Capital L P increased its holdings in shares of Marlin Business Services by 125.7% in the third quarter. Globeflex Capital L P now owns 15,800 shares of the financial services provider’s stock valued at $456,000 after purchasing an additional 8,800 shares during the period. Millennium Management LLC acquired a new position in shares of Marlin Business Services in the second quarter valued at approximately $587,000. Finally, Monarch Partners Asset Management LLC increased its holdings in shares of Marlin Business Services by 13.8% in the third quarter. Monarch Partners Asset Management LLC now owns 25,170 shares of the financial services provider’s stock valued at $726,000 after purchasing an additional 3,050 shares during the period. 83.97% of the stock is owned by hedge funds and other institutional investors.
Get Marlin Business Services alerts:A number of research firms have commented on MRLN. ValuEngine downgraded Marlin Business Services from a “hold” rating to a “sell” rating in a research report on Thursday, January 17th. Zacks Investment Research upgraded Marlin Business Services from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, February 7th. Finally, BidaskClub downgraded Marlin Business Services from a “hold” rating to a “sell” rating in a research report on Thursday, November 8th.
Marlin Business Services stock opened at $23.56 on Friday. The firm has a market capitalization of $288.31 million, a P/E ratio of 11.55 and a beta of 0.93. Marlin Business Services Corp. has a 52 week low of $17.51 and a 52 week high of $31.95. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.90.
Marlin Business Services (NASDAQ:MRLN) last released its earnings results on Thursday, January 31st. The financial services provider reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.02). The business had revenue of $23.68 million during the quarter, compared to analyst estimates of $24.50 million. Marlin Business Services had a net margin of 19.99% and a return on equity of 13.41%. Research analysts predict that Marlin Business Services Corp. will post 2.31 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 21st. Shareholders of record on Monday, February 11th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, February 8th. This represents a $0.56 annualized dividend and a yield of 2.38%. Marlin Business Services’s dividend payout ratio is presently 27.45%.
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Marlin Business Services Profile
Marlin Business Services Corp., through its subsidiaries, provides equipment financing solutions to small and mid-sized businesses in the United States. It finances approximately 100 categories of equipment, including commercial and industrial, restaurant, auto, medical, VOIP, and printing equipment, as well as computer software, copiers, cash registers, dental implant systems, and other commercial equipment.
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