Marlin Business Services (NASDAQ:MRLN) Shares Cross Above 50 Day Moving Average of $23.04

Shares of Marlin Business Services Corp. (NASDAQ:MRLN) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $23.04 and traded as high as $23.20. Marlin Business Services shares last traded at $23.20, with a volume of 219 shares trading hands.

A number of research firms have recently weighed in on MRLN. BidaskClub raised Marlin Business Services from a “hold” rating to a “buy” rating in a research note on Wednesday, May 29th. ValuEngine raised Marlin Business Services from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 18th.

The firm has a market capitalization of $307.86 million, a price-to-earnings ratio of 12.22 and a beta of 0.88. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.69. The business has a 50 day simple moving average of $23.11.

Marlin Business Services (NASDAQ:MRLN) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.06). The business had revenue of $23.96 million for the quarter, compared to analyst estimates of $24.10 million. Marlin Business Services had a return on equity of 12.33% and a net margin of 17.77%. As a group, equities research analysts expect that Marlin Business Services Corp. will post 2.31 earnings per share for the current fiscal year.

In related news, General Counsel Edward Ralph Jr. Dietz sold 2,419 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $23.44, for a total transaction of $56,701.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP James Sherlock sold 2,231 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $23.00, for a total value of $51,313.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,750 shares of company stock worth $110,350 in the last ninety days. 6.31% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its holdings in Marlin Business Services by 919.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,815 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 1,637 shares in the last quarter. Bank of Montreal Can increased its holdings in Marlin Business Services by 438.4% during the 4th quarter. Bank of Montreal Can now owns 2,412 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 1,964 shares in the last quarter. Brandywine Global Investment Management LLC bought a new position in Marlin Business Services during the 4th quarter worth about $103,000. Bank of America Corp DE increased its holdings in Marlin Business Services by 87.8% during the 4th quarter. Bank of America Corp DE now owns 5,789 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 2,706 shares in the last quarter. Finally, LSV Asset Management bought a new position in Marlin Business Services during the 1st quarter worth about $131,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Marlin Business Services Company Profile (NASDAQ:MRLN)

Marlin Business Services Corp. provides credit products and services to small and mid-sized businesses in the United States. The company's products and services include loans and leases for the acquisition of commercial equipment and working capital loans. It offers lease finance to approximately 100 categories of equipment.

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