Marlin Business Services Corp. (MRLN) Downgraded to “Hold” at Zacks Investment Research
Marlin Business Services Corp. (NASDAQ:MRLN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Marlin Business Services Corp is a nationwide provider of equipment leasing solutions primarily to small businesses. Marlin finances over 60 categories of commercial equipment, including copiers, telephone systems, computers and certain commercial and industrial equipment. “
Separately, TheStreet upgraded Marlin Business Services Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 17th.
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Shares of Marlin Business Services Corp. (NASDAQ:MRLN) traded down 0.56% during midday trading on Tuesday, hitting $19.42. 13,779 shares of the stock traded hands. The company has a market capitalization of $235.86 million, a PE ratio of 15.41 and a beta of 1.15. Marlin Business Services Corp. has a 12-month low of $13.46 and a 12-month high of $19.92. The firm’s 50 day moving average price is $18.72 and its 200 day moving average price is $16.51.
Marlin Business Services Corp. (NASDAQ:MRLN) last issued its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.03. Marlin Business Services Corp. had a return on equity of 11.72% and a net margin of 17.07%. Analysts expect that Marlin Business Services Corp. will post $1.38 EPS for the current year.
In other Marlin Business Services Corp. news, insider James Sherlock sold 2,221 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $18.84, for a total value of $41,843.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Willem Mesdag bought 25,000 shares of the business’s stock in a transaction on Friday, September 9th. The stock was purchased at an average price of $18.99 per share, for a total transaction of $474,750.00. The disclosure for this purchase can be found here. 10.71% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Algert Global LLC boosted its stake in Marlin Business Services Corp. by 12.9% in the first quarter. Algert Global LLC now owns 19,666 shares of the financial services provider’s stock valued at $281,000 after buying an additional 2,246 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Marlin Business Services Corp. by 4.2% in the first quarter. JPMorgan Chase & Co. now owns 60,614 shares of the financial services provider’s stock valued at $867,000 after buying an additional 2,465 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in Marlin Business Services Corp. during the first quarter valued at approximately $240,000. Spark Investment Management LLC purchased a new stake in Marlin Business Services Corp. during the first quarter valued at approximately $329,000. Finally, Harvest Capital Strategies LLC boosted its stake in Marlin Business Services Corp. by 18.0% in the first quarter. Harvest Capital Strategies LLC now owns 99,079 shares of the financial services provider’s stock valued at $1,417,000 after buying an additional 15,131 shares during the last quarter. Hedge funds and other institutional investors own 72.75% of the company’s stock.
About Marlin Business Services Corp.
Marlin Business Services Corp. is a provider of equipment financing solutions primarily to small and mid-sized businesses. The Company finances over 100 categories of common-use commercial equipment, including copiers, computers and software, security systems, telecommunications equipment, and certain commercial and industrial equipment.
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