Business Context and Reporting Period
Company: Medallion Financial Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: June 12, 2015
Event: Item 8.01 - Other Events (Stock Repurchase Activity)
Key Financial Metrics
This filing reports specific capital allocation activity rather than comprehensive financial performance metrics (revenue, profit, cash flow, or debt levels are not disclosed in this document).
- Shares Repurchased (June 12, 2015): 50,000 shares
- Cost of Repurchase (June 12, 2015): $441,172
- Average Price per Share: $8.77 (inclusive of commissions and fees)
- Remaining Authorization: $12,779,037 available under the Current Stock Repurchase Program
- Total Program Authorization: $20,000,000 (authorized July 29, 2014)
Material Changes and Historical Context
The filing details the execution of the stock repurchase program authorized in July 2014. No material changes to revenue, margins, or debt are reported in this specific filing.
Historical Repurchase Data (Since November 2003):
- Total Shares Repurchased: 2,296,821
- Total Cost: $21,192,936
- Historical Average Cost: $9.23 per share
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of risks and contingencies beyond the execution of the authorized share buyback program.
Investor Verification Checklist
- Verify the remaining $12,779,037 authorization balance against subsequent 8-K filings for continued buyback activity.
- Compare the $8.77 repurchase price to the company's current market trading price to assess valuation.
- Review the company's most recent 10-Q or 10-K for comprehensive liquidity, debt, and profitability metrics not included in this 8-K.