Marlin Business Services Corp. (NASDAQ:MRLN) Rating Lowered to Sell at BidaskClub

Marlin Business Services Corp. (NASDAQ:MRLN) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Monday, July 24th.

A number of other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Marlin Business Services Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. ValuEngine cut shares of Marlin Business Services Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $29.50.

Marlin Business Services Corp. (MRLN) traded up 1.99% during trading on Monday, reaching $25.60. 18,432 shares of the company’s stock traded hands. The company’s 50 day moving average is $25.35 and its 200-day moving average is $24.84. Marlin Business Services Corp. has a 52-week low of $17.05 and a 52-week high of $26.70. The stock has a market cap of $312.78 million, a price-to-earnings ratio of 21.17 and a beta of 1.31.

Marlin Business Services Corp. declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 30th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: “[[title]]” was originally posted by [[site]] and is the property of of [[site]]. If you are reading this article on another domain, it was illegally copied and republished in violation of United States and international copyright law. The legal version of this article can be accessed at [[permalink]].

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Marlin Business Services Corp. by 2.1% in the second quarter. Vanguard Group Inc. now owns 351,979 shares of the financial services provider’s stock valued at $8,852,000 after buying an additional 7,320 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Marlin Business Services Corp. by 0.8% in the second quarter. Mutual of America Capital Management LLC now owns 224,387 shares of the financial services provider’s stock valued at $5,643,000 after buying an additional 1,801 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Marlin Business Services Corp. by 27.2% in the fourth quarter. Renaissance Technologies LLC now owns 182,900 shares of the financial services provider’s stock valued at $3,823,000 after buying an additional 39,100 shares in the last quarter. State Street Corp boosted its position in shares of Marlin Business Services Corp. by 9.9% in the fourth quarter. State Street Corp now owns 158,713 shares of the financial services provider’s stock valued at $3,315,000 after buying an additional 14,339 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Marlin Business Services Corp. by 2.3% in the second quarter. JPMorgan Chase & Co. now owns 143,431 shares of the financial services provider’s stock valued at $3,607,000 after buying an additional 3,258 shares in the last quarter. Hedge funds and other institutional investors own 77.50% of the company’s stock.

About Marlin Business Services Corp.

Marlin Business Services Corp. is a bank holding company and a financial holding company. The Company is a provider of credit products and services to small businesses. The Company provides products and services to its customers, which include loans and leases for the acquisition of commercial equipment, working capital loans, and insurance products.