Business Context and Reporting Period
Company: Medallion Financial Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: June 16, 2015
Event: Disclosure of stock repurchase activity under an authorized program.
Key Financial Metrics
This filing reports specific transaction details regarding share repurchases rather than comprehensive financial statements (revenue, profit, cash flow, or debt levels are not provided in this document).
| Metric | Value |
|---|---|
| Shares Repurchased (June 16, 2015) | 29,773 |
| Total Cost (June 16, 2015) | $269,163 |
| Average Price per Share | $8.99 |
| Remaining Authorization | $12,509,873 |
| Total Program Authorization | $20,000,000 |
Material Changes and Historical Context
The filing details a specific execution of the "Current Stock Repurchase Program" authorized on July 29, 2014. No comparative financial period data (e.g., quarter-over-quarter revenue or earnings) is included in this report.
- Historical Repurchases: Since the inception of the original program in November 2003, the Company has repurchased a total of 2,326,594 shares.
- Historical Cost: The cumulative cost for all historical repurchases is $21,462,099.
- Historical Average Cost: The average cost per share across all repurchases is $9.22.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future operations, or specific risk factors beyond the standard disclosure of the stock repurchase activity. The transaction was executed at a price ($8.99) slightly below the historical average cost ($9.22).
Key Facts for Investor Verification
- Verify the remaining $12.5 million authorization balance against the company's current cash position to assess liquidity impact.
- Confirm the total number of shares outstanding post-repurchase to calculate the impact on earnings per share (EPS).
- Review the company's most recent 10-Q or 10-K for comprehensive revenue, profit, and debt metrics, as this 8-K does not provide them.