Seeking Alpha

Medallion Financial higher after earnings, boosted buyback

  • Alongside Q2 earnings, Medallion Financial (TAXI +3.1%) brings the size of its repurchase program to $20M vs. the $6M currently remaining. At the current stock price, the buyback would be good for about 1.7M shares, or nearly 7% of the float.
  • Previously: Investors bet on Uber by shorting Taxi
Comments (4)
  • danny15reef
    , contributor
    Comments (8) | Send Message
     
    Guess some of those shorts will have to "uber" it out of town today !!!!! Great quarter Medallion !!!!!!
    4 Aug, 12:21 PM Reply Like
  • Reinerone
    , contributor
    Comments (15) | Send Message
     
    Another solid quarter for TAXI. They decided to buy back shares while the stock price is low. Another great business decision and another reason I am long TAXI.
    4 Aug, 12:31 PM Reply Like
  • U2A Ventures
    , contributor
    Comments (155) | Send Message
     
    Buy it back when the price is CHEAP!
    4 Aug, 01:05 PM Reply Like
  • navkram1
    , contributor
    Comments (16) | Send Message
     
    The speed at which they have put capital to work is impressive. If they hadn't they could have just bought back the shares they recently sold for $16+ for $11 and change but their net interest margin is impressive.

     

    Uber is overrated and TAXI is well protected from any decline in medallion price. I am looking forward to buying more and the inevitable short squeeze.

     

    Does anyone know if the snafu about BDCs being allowed in the Russel 2000 index is going to be fixed? That would surely set off a short squeeze.
    4 Aug, 02:30 PM Reply Like
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